Return to question 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 1,010, 1,490, and 1,240, 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. points Storage cost is $5 per unit per month based on ending inventory level, standard pay rate is $8 per hour, hiring and training cost is $260 per worker, layoff cost is $360 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 42 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.) Answer is complete and correct. Forecast Safety stock Beginning inventory Net production required Workers required Hired Laid off Actual production January February March 1,010 1,490 1,240 505 745 620 550 508 751 965 1,727 1,109 55 114 67 13 590 00047 968 1 7321 126 | required Workers required Hired Laid off Actual production Ending inventory 965 1,727 55 114 1359 0 0 968 1,733 508 751 1,109 67 0 47 1,126 636 10 points Answer is complete but not entirely correct. Labor cost Inventory cost Hiring cost Layoff cost Total cost Total January February $ 77,440 $ 138,624 $ 2,645 3,147 3,380 15,340 0 $ 83,465 $ 157,111 X $ $ March 90,048 3,468 0 16,920 110,436 X 351,012