DATE: March 7, 2024 DUE: 4pm, April 4, 2024 A leading European tech manufacturer, TechLink, is formulating production plans for the upcoming year. The company has collaborated with its service providers to devise monthly smart devices requirement forecasts, detailed in Table Monthly Demand for TechLink in Thousands Month Workdays Forecast Demand (aggregate units) January 21 1,034 February 19 1,134 March 22 1,034 April 18 1,234 May 23 1,534 June 20 1,634 July 21 1,634 August 19 934 September 22 1,134 October 18 834 November 23 1,434 December 20 1,734 TechLink's assembly operation is capacity-limited by the number of people on the production line, which operates for variable numbers of days a month at eight hours per day. Each worker can assemble a smart device in 10 minutes, earning 20 euros per hour with a 50 percent overtime premium. The plant currently employs 1,250 workers, with a component cost of 20 euros per smart device. Carrying inventory incurs a 3-euro cost per smart device per month, and TechLink maintains a no-layoff policy. Part one: a. Without backlogs, subcontracting, or new hires, determine the optimum production schedule and the associated annual cost. b. Evaluate the value of negotiating an increase in allowable overtime from 20 to 40 hours per month per employee. c. Reassess parts (a) and (b) with different starting employee counts (1,200 and 1,300) and examine how the value of additional overtime changes with varying workforce sizes. d. Explore part (a) with a level production schedule aiming to produce no more than 1,291,667 units monthly (50,000 units below the average demand over the next 12 months, set at 1,241,667). Calculate the cost of this level production schedule and determine the value of overtime