PLEASE SOLVE THE TABLE GIVEN IN THE THRID PICTURE BY PUTTING THE VALUES IN IT

USE THE FIRST TWO PICTURES AS REFERENCE AND IN THE THIRD PICTURE ANSWER THE HIGHLIGHTED PART

BMI702 Week4 Exercise - for 3% of the total grade A small company produces a variety of recreational and leisure vehicles. The sales & marketing manager has developed the following aggregate forecasts: Month Mar Apr May Jun Jul Aug Sep Forecast 500 440 550 800 700 400 500 Use the following information: Regular labor cost $240 per unit Overtime labor cost $360 per unit Subcontracting cost $400 per unit Hiring cost $8000 per worker Lay-off cost $2000 per worker Regular capacity 10 units per worker per month Overtime capacity 4 units per worker per month Holding cost $30 per unit per month Beginning inventory O unitsAssume that: > >There are 40 workers currently working at the company. >>The company does not want to have any shortage on any month. That is, the demand for each month should be met at the very least. >>There is no limitation in terms of the amount of the safety stock to be kept each month. That is, it is ok if they end up with zero inventory at the end of any month. >> It is possible to go idle and as a result, not produce at the full regular capacity if the full capacity is not needed in that particular month (to possibly reduce the inventory holding costs if it were less costly in total to do so). Hint: You can start by using the Excel template posted for this exercise and add your own formulations and Solver settings for this problem. To make things easier, I have already highlighted the variable cells in blue (the ones that Solver needs to find the value of).Month Mar Apr May Jun Jul Aug Sep N Forecast 500 440 550 800 700 400 500 3 Regular production 4 Overtime production 5 Subcontracting # of units per worker per month 6 Inventory: 10 7 Beginning-of-quarter Overtime production capacity per worker per mont 8 End-of-quarter 0 4 9 10 # of Workers 40 Unit costs Total costs 11 # of Hired 8000 12 # of Laid off 2000 13 14 Regular Capacity available 15 Overtime Capacity available 16 Unit costs Total costs 17 Inventory cost $30 18 Regular production cost $240 19 Overtime production cost $360 20 Subtracting cost $400 21 22 23 Total cost 24