Determine the total cost of a chase strategy using hiring and firing. All shortages are lost sales $($stockouts$),$ no backlogs. The unit cost is the regular time production cost. Save on a sheet labeled "CHASE"

$2)$ Determine the total cost of a level production strategy. All shortages are lost sales $($stockouts$),$ no backlogs. The unit cost is the regular time production cost. Save on a sheet labeled "LEVEL"

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$3)$ Compare the two plans. Evaluate the plan$$s performance in terms of cost$,$ customer service, human resources, and operations.

$4)$ Determine a new total cost of a level production strategy using backlogs for all shortages in inventory. The backlog cost is $$50\mathrm{.}00.$ The unit cost is the regular time production cost. Save on a sheet labeled "LEVEL with Backlog"

Production Data $($in units$)$

Previous quarter's output $1500$

Beginning inventory $0$

Cost Data $($per unit$)$

Stockout cost $$50\mathrm{.}00$

Inventory holding cost $($at the end of the quarter$)$ $$10\mathrm{.}00$

Hiring workers $$40\mathrm{.}00$

Firing workers $$80\mathrm{.}00$

Unit cost $$30\mathrm{.}00$

Overtime $$15\mathrm{.}00$

Quarter Demand

$11,400$

$21,200$

$31,500$

$41,300$