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Hi, I would like to teach me how to solve this and I would appreciate if you write a formula for it Plan production for

Hi, I would like to teach me how to solve this and I would appreciate if you write a formula for it

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Plan production for the next year. The demand forecast is spring, 20,200, summer, 9,600; fall, 15,200, winter, 18,400. At the beginning of spring you have 69 workers and 1,070 units in inventory. The union contract specifies that you may lay off workers only once a year, at the beginning of summer. Also, you may hire new workers only at the end of summer to begin regular work in the fall. The number of workers laid off at the beginning of summer and the number hired at the end of summer should result in planned production levels for summer and fall that equal the demand forecasts for summer and fall, respectively. If demand exceeds supply, use overtime in spring only, which means that backorders could occur in winter. You are given these costs: hiring, $120 per new worker, layoff, $240 per worker laid off, holding, $22 per unit-quarter; backorder cost, $10 per unit, straight-time labor, $13 per hour, overtime, $20 per hour. Productivity is 0.5 unit per worker hour, eight hours per day, 50 days per quarter. heducation.com/hm.tpx Assignment Print View Find the total cost of this plan. Note: Hiring expense occurs at beginning of Fall. (Leave no cells blank - be certain to enter "0" wherever required.) Spring 20.200 Summer 9,600 Fall 15,200 Winter 18,400 Forecast Beginning inventory Production required Production hours required Regular workforce Regular production Overtime hours Overtime production Total production Ending inventory Ending backorders Workers hired Workers laid off Spring Summer Fall Winter Straight time Overtime Inventory Backorder Hiring Layoff Total Total cost

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