Problem 8-14 Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem. The monthly forecasts for Product X for January, February, and March are 950, 1,510, and 1,220, respectively. Safety stock policy recommends that half of the forecast for that month be defined as safety stock. There are 22 working days in January, 19 in February, and 21 in March. Beginning inventory is 550 units. Manufacturing cost is $270 per unit, storage cost is $4 per unit per month, standard pay rate is S7 per hour, overtime rate is $11 per hour, cost of stockout is $11 per unit per month, hiring and training cost is $190 per worker, layoff cost is $290 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 40 workers and that they work 8 hours per day. (Leave no cells blank-be certain to enter "o" wherever required. Input all values as positive values. Round Workers Required up to next higher whole number. Round all other variables to nearest whole number.) January February March Forecast Safety stock Beginning inventory Net production required Workers required Hired Laid off Actual production Ending inventory 950 1,510 1,220 475 550 875 50 10 0 875 475 755 475 1790 118 68 610 755 1075 64 0 54 1075 610 1790 755 January February March S 61600 10 S 75,264 10 Labor Inventory Hiring Layof Total S 125,552 10 12920 0 1900 15660 Total