During the next four months, a customer requires, respectively, 500, 650, 1000, and 700 units of a commodity, and no backlogging is allowed (that is, the customer's requirements must be met on time). Production costs are $50, $80, $40, and $70 per unit during these months. The storage cost from one month to the next is $20 per unit (assessed on ending inventory). It is estimated that each unit on hand at the end of month 4 can be sold for $60. Assume there is no beginning inventory.

a.Determine how to minimize the net cost incurred in meeting the demands for the next four months.

A screenshot of the template is below, please provide a step by step guide as I want to learn how to properly do the problem.

Home Insert Draw Page Layout Formulas Data Review View Tell me Share Comments Calibri 11 AA ab Wrap Text v General Insert v Ex Delete Paste Merge & Center v v % 9 00 0 Conditional Format Cell Sort & Find & Analyze BIUV Sensitivity Formatting as Table Styles Format Filter Select Data S22 X V fx B C D E G H K M N O P R S U V W Telephone survey Percentages Daytime Evening Wife 309 30% 5 Husband 10% 30% 6 Single male 10% 15% Single female 10% 20% 8 None 40% 5% 9 Sum 10 11 Cost/call 12 Max % of evening calls Daytime Evening Total 15 Calls made 17 Max evening calls 19 Contacts Made Required 20 Wife 21 Husband 22 Single male 23 Single female 24 25 Total cost 28 29 43 Model STS_1 STS_2 + Ready Calculate 100%