Determine whether the company needs to hire or layoff and what is the total hiring, layoff, and inventory cost

1. The company also wants you to recommend an aggregate planning strategy. They have provided you with the following information.

Month	Expected Demand	Production Days
April 2022	150000	21
May 2022	170000	22
June 2022	160000	21
July 2022	150000	22
August 2022	140000	22

Workers pay per hour - $10.00

Number of labour hour required to produce 1 towel - 15 minutes

Number of hours in a shift - 8 hours

The company operates two shifts

The inventory carrying cost is 20% of the unit price.

The cost of increasing daily production rate (hiring and training) is $ 0.5 per unit

The cost of decreasing daily production rate (layoffs) is $1 per unit

Cost of subcontracting = $ 4 per unit