Step 1 :We are given the objective function to minimize: \(F=56x+24y\).
Step 2 :The constraints are: \(x+2y \geq 14\), \(x+y \geq 12\), \(2x+y \geq 16\), and \(x, y \geq 0\).
Step 3 :We can solve this problem using linear programming.
Step 4 :The optimal solution is obtained when the value of the objective function is minimum.
Step 5 :The minimum value of the objective function is 384 and the values of \(x\) and \(y\) that achieve this minimum are \(x=0\) and \(y=16\).
Step 6 :Final Answer: The minimum value of the function \(F=56x+24y\) subject to the given constraints is 384, achieved at \(x=0\) and \(y=16\). So, the final answer is \(\boxed{384}\).