Optimize number of cuts of various lengths from a given length

[ralphp312]

I need some help in finding the best way to determine how many cuts of a variety of sizes can be achieved from a longer length. The goal would be to have the remainder of the longer length as close to zero as possible.

For example...

I have a board at 563.625" long
There are four possible chop lengths to come from that board... 78.3125", 62.625", 86.625" and 55.5"
How many chops of each length can I achieve from 563.625"

Note: I do not have to use all chop sizes from the length of the board. I am looking for varying combinations with minimal loss.

[MrShorty]

Sounds like a pretty standard "cutting stock" problem.
I would probably suggest you start with Wikipedia to get a basic idea of how the cutting stock problem works: https://en.wikipedia.org/wiki/Cutting_stock_problem
I put "cutting stock problem excel" into my favorite internet search engine and got several returns.
Solver/Frontline's discussion: http://www.solver.com/cutting-stock
Another look using Solver: http://blog.excelmasterseries.com/20...aste-with.html
A generic university lecture: http://www.unc.edu/depts/stat-or/cou...2_cutstock.pdf
And many others.