MGT Inc. has the following aggregate demand requirements and other data for the upcoming six months: Production Data (in units) Previous month's output 4500 Beginning inventory 500 Cost Data (per unit) Stockout cost $ 50.00 Inventory holding cost (at the end of the month) $ 10.00 Hiring workers $ 40.00 Firing workers $ 80.00 Unit cost $ 30.00 Overtime $ 15.00 Monthly Demand January 4,200 February 3,700 March 4,500 April 5,000 May 3,800 June 3,900 To be completed for grading: Based on the information for MGT Inc. (given on this tab), answer questions 1-3: Hint: this problem has a beginning inventory that you need to deal with in your regular production. 1) 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" 3) Compare the two plans. Evaluate the plans performance in terms of cost, customer service, human resources, and operations