Prestige Plastics Corporation (PPC) has 35 thermoforming presses to produce plastic packaging. Each press requires one operator and can produce 500 pounds (lbs.) per hour. PPC currently employs 15 operators and has 500,000 lbs. of packaging on hand. Regular time production during a quarter is 8 hours per day, 5 days per week, and 13 weeks per quarter. Each press operator is paid $20 per hour and overtime is paid at 150% of the regular hourly rate. Each operator is limited to at most 60 hours of overtime per quarter. It costs $5,000 to layoff an operator and $3,000 to hire and train a new operator. It costs $150 to purchase 1,000 lbs. of plastic resin pellets to produce the packaging and it costs $7.50 to carry 1,000 lbs. of finished inventory for one quarter. The demand forecasts (in thousands of lbs.) for the next year are given in the worksheet labeled PARTII-Q2. PPC does NOT plan to allow backorders, and does NOT use any subcontracting. Compute and enter the necessary parameters for the production planning spreadsheet and use it to find an optimal production plan for PPC show formula and solver

ntel Chips--Froduction Plan Kw Objective Function Ko Kwo Costs CW CH C C CP w H Lt ot 1 Pt Cost 15.00 500.0 Decision Variables D (1000's) Rtr. 1 5,920 Qtr. 2 4,100 Rtr. 3 4,770 Rtr. 4 12,880 Constraints Workforce Balance Inventory Balance W = W+H -L 1 14+P-D - Qtr. 1 Rtr. 2 2tr. 3 Ptr. 4 Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Production Capacity Overtime Capacity P KWW +6.0 0 Kwow, 2tr. 1 Rtr. 2 Qtr. 3 Qtr. 4 A A A Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Additional Constraints ntel Chips--Froduction Plan Kw Objective Function Ko Kwo Costs CW CH C C CP w H Lt ot 1 Pt Cost 15.00 500.0 Decision Variables D (1000's) Rtr. 1 5,920 Qtr. 2 4,100 Rtr. 3 4,770 Rtr. 4 12,880 Constraints Workforce Balance Inventory Balance W = W+H -L 1 14+P-D - Qtr. 1 Rtr. 2 2tr. 3 Ptr. 4 Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Production Capacity Overtime Capacity P KWW +6.0 0 Kwow, 2tr. 1 Rtr. 2 Qtr. 3 Qtr. 4 A A A Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 Additional Constraints