I would say run/cycle to lose weight, either on treadmill/fitness bike or outside. About 1hr per day for that. 300-500 situp/crunches combination (takes about 30 minutes) in order to build abdominal muscles, and the dumbbells to build arms (whatever rep until your arms feel tired, but not extremely tight). You can lie down and lift the weights from your arms in a T position up to build chest muscles but benching is more effective.
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