develop a production plan for next 4 months. present analysis in a tabular format

Month Demand forecast February 80,000 March 64,000 April 1,00,000 May 40,000 The firm needs to produce exactly as per the demand forecast for February and March The firm has negotiated an overtime policy with its workers starting from April onwards. However, the goverment policy constraints a maximum of 5,000 hours of overtime labor per month The firm will use overtime and inventory with a stable workforce for April and May (stable means that the number of workers needed for March will be held constant through May). If demand exceeds supply, then backorders occur. The plant is open for 20 days per month with 8 hours per day. Productivity is 4 units per labor-hour Assume zero beginning inventory on February 1. There are 100 workers on January 31 Hiring cost = $50 per new worker Firing cost = $70 per worker laid off Straight-time labor cost = $10 per hour Overtime labor cost = $15 per hour Inventory holding cost = $10 per unit per month Backordering cost = $20 per unit per month. Based on the above information, develop a production plan and calculate the monthly as well as the total cost of your production plan. Month Demand forecast February 80,000 March 64,000 April 1,00,000 May 40,000 The firm needs to produce exactly as per the demand forecast for February and March The firm has negotiated an overtime policy with its workers starting from April onwards. However, the goverment policy constraints a maximum of 5,000 hours of overtime labor per month The firm will use overtime and inventory with a stable workforce for April and May (stable means that the number of workers needed for March will be held constant through May). If demand exceeds supply, then backorders occur. The plant is open for 20 days per month with 8 hours per day. Productivity is 4 units per labor-hour Assume zero beginning inventory on February 1. There are 100 workers on January 31 Hiring cost = $50 per new worker Firing cost = $70 per worker laid off Straight-time labor cost = $10 per hour Overtime labor cost = $15 per hour Inventory holding cost = $10 per unit per month Backordering cost = $20 per unit per month. Based on the above information, develop a production plan and calculate the monthly as well as the total cost of your production plan