Plan production for a four-month period: February through May. For February and March, you should produce to exact demand forecast. For April and May, you should use overtime and inventory with a stable workforce; stable means that the number of workers needed for March will be held constant through May. However, government constraints put a maximum of 5,000 hours of overtime labor per month in April and May (zero overtime in February and March). If demand exceeds supply, then backorders occur. There are 110 workers on January 31. You are given the following demand forecast: February, 81,920; March, 70,400; April, 100,040; May, 40,040. Productivity is four units per worker hour, eight hours per day, 20 days per month. Assume zero inventory on February 1. Costs are: hiring, $50 per new worker; layoff, $70 per worker laid off; inventory holding, $11 per unit-month; regular time labor, $12 per hour; overtime, $18 per hour; backorder, $22 per unit. Develop a production plan and calculate the total cost of this plan. Note: Assume any layoffs occur at beginning of next month. Note: Leave the cells blank, whenever zero (0) is required. Negative values should be indicated by a minus sign. Round your answers to the nearest whole number. Answer is complete but not entirely correct. February March April May Forecast 81,920 70,400 100,040 40,040 Beginning inventory 0 0 0 0 Production required 81,920 70,400 100,040 40,040 Production hours required 20,480 17,600 25,010 10,010 > Regular workforce 128 110 110 110 Regular production 81,920 70,400 70,400 70,400 Overtime hours 0 5,000 Overtime production 0 0 20,000 0 Total production 81,920 70,400 90,400 70,400 Ending inventory 0 0 30,360 Ending backorders 0 0 9,640 0 Workers hired 18 0 0 0 Workers laid off 0 18 0 0 Regular time Overtime Inventory Backorder Hiring Layoff Total Total cost * Answer is complete but not entirely correct. February $ 204,800 March $176,000 April $176,000 May $176,000 0 90,000 0 0 0 0 303,600 0 0 212,080 0 900 0 0 0 1,260 0 $ 205,700 $ 177,260 $ 478,080 $ 479,600 $ 1,340,640