3. Based on the graphical method for aggregate planning, the comparison for the three options are as follows: Comparison Table Level Strategy-P1 Level Strategy - P2 Chase Strategy - P3 Cost Items Inventory Carrying Reg Labour Overtime Labour Hiring and Training Layoff Subcontracting Total $46, 370.00 $220,000.00 $6,800.00 $0.00 $0.00 $0.00 $273,170.00 $22,400,00 $216,650.00 $0.00 $0.00 $0.00 $56,000.00 $295,050.00 $21.500,00 $216,650.00 $0.00 $12,000.00 $4,800.00 $0.00 $254,950.00 Level Strategy 1 is based on constant workforce with no overtime or idle time, no safety stock, no lead time issues and no subcontractors. The assumption for inventory is that beginning inventory is zero. Level strategy 2 is based on constant workforce with no overtime or idle time, no safety stock, no lead time issues, and subcontractors will be used to meet demand. The assumption for inventory is that the beginning inventory is zero. Chase Strategy is based on varying the workforce size by hiring and laying off the workforce to meet demand. The assumption for inventory is that the beginning inventory is zero. The comparison table is based on the following forecasts and cost information. Cost Information Information Layoff costs $600 per unit Hiring and Training $400 per unit Avg Pay Rate $15 per hour Overtime Pay Rate $20 per hour (above 9 hours per day) Subcontracting cost per unit $25 per hour Inventory carrying cost $10 per unit per month Labour hours to produce a unit 1.5 hour per unit Costs Forecast Month Jun July Aug Sep Oct Forecasted Demand 1105 1279 1480 1990 2241 1985 Production days per month 22 24 24 22 24 Nov 24 a.) Identify 5 mistakes in the comparison table. For each mistake, explain why is wrong and what is the correct value? (2 marks for each correctly identified error and the correct answer - total 10 marks) b.) Create a new comparison table with all the correct values. Justify the final comparison table with proof. (10 marks) 3. Based on the graphical method for aggregate planning, the comparison for the three options are as follows: Comparison Table Level Strategy-P1 Level Strategy - P2 Chase Strategy - P3 Cost Items Inventory Carrying Reg Labour Overtime Labour Hiring and Training Layoff Subcontracting Total $46, 370.00 $220,000.00 $6,800.00 $0.00 $0.00 $0.00 $273,170.00 $22,400,00 $216,650.00 $0.00 $0.00 $0.00 $56,000.00 $295,050.00 $21.500,00 $216,650.00 $0.00 $12,000.00 $4,800.00 $0.00 $254,950.00 Level Strategy 1 is based on constant workforce with no overtime or idle time, no safety stock, no lead time issues and no subcontractors. The assumption for inventory is that beginning inventory is zero. Level strategy 2 is based on constant workforce with no overtime or idle time, no safety stock, no lead time issues, and subcontractors will be used to meet demand. The assumption for inventory is that the beginning inventory is zero. Chase Strategy is based on varying the workforce size by hiring and laying off the workforce to meet demand. The assumption for inventory is that the beginning inventory is zero. The comparison table is based on the following forecasts and cost information. Cost Information Information Layoff costs $600 per unit Hiring and Training $400 per unit Avg Pay Rate $15 per hour Overtime Pay Rate $20 per hour (above 9 hours per day) Subcontracting cost per unit $25 per hour Inventory carrying cost $10 per unit per month Labour hours to produce a unit 1.5 hour per unit Costs Forecast Month Jun July Aug Sep Oct Forecasted Demand 1105 1279 1480 1990 2241 1985 Production days per month 22 24 24 22 24 Nov 24 a.) Identify 5 mistakes in the comparison table. For each mistake, explain why is wrong and what is the correct value? (2 marks for each correctly identified error and the correct answer - total 10 marks) b.) Create a new comparison table with all the correct values. Justify the final comparison table with proof. (10 marks)