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1. (14 points) On 31 December 2021, a protective mask factory should plan and decide the amount of protective masks to be produced and
1. (14 points) On 31 December 2021, a protective mask factory should plan and decide the amount of protective masks to be produced and the related workforce level for the first half year in 2022. The following table shows the production days and predicted demand in the future 6 months: Month Jan Feb Mar Apr May Jun Production Days 24 20 27 24 Predicted demand (in thousand units) 450 280 20 360 250 260 200 18 The factory possesses 130 thousand masks in stock and 50 labors at the end of 2021. On average, 100 labors can produce 600 thousand masks in 30 days. The inventory holding cost rate is $0.25/mask/year. The cost of hiring a new labor is $275 and firing a labor is $400. By using the Chase Strategy, fill in the table below and determine the total cost, including: inventory holding cost, hiring cost, and firing cost, of the next 6 month. Month Jan Feb Mar May Jun Net predicted demand Number of units produced per worker Number of workers required Number of workers hired Number of workers fired Production units Beginning Inventory Ending Inventory Average Inventory
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