Shown below are the forecasted quarterly demands (i.e. sales plan) for a product in 2023: Q1: 40,000 Q2: 70,000 Q3: 20,000 Q4: 50,000 Inventory holding cost is $6 per unit per quarter. Backlog cost is $18 per unit per quarter. The regular-time wage rate is $30/hour. Hiring/Layoff costs are $1,000 and $2,000 respectively. Each unit requires 2 labor hours. There are 500 working hours in each quarter. The current workforce consists of 150 workers. There is an initial inventory of 20,000 units, but no initial backlog. (Hint: The initial inventory can offset the first quarter's demand.) Compute the annual cost of each of the following operations plans: Operations Plan 1: Chase Strategy Operations Plan 2: Level Strategy Operations Plan 3: Hybrid Strategy (43,000; 43,000; 37,000; 37,000) Also, on a summary sheet in your Excel file, rank the three strategies by cost from lowest to highest. Rank 1 2 3 Strategy Cost File to the drop box, with four tabs labeled Summary, Chase, Level, and Hybrid.

Q2:70,000Q3:20,000Q4:50,000 Inventory holding cost is 56 per unit per quarter. Dacklog cost is $18 per unit per quarter. The regular-time wage rate is $30/ hour. Hirine/layoff costs are $1,000 and $2,000 respectwely, Each unit requires 2 labor hours. There are 500 working hours in each quarter. The current workforce consists of 350 workers. There is an initial inventory of 20,000 units, but no initial backlog. (ttint. The initial inventory can offset the first quarter's demand.) Compute the annual cost of each of the following operations plans: Operations Pian 1: Chase Stratecy Operations Plan 2: Level strategy Operations Pian 3 : Hyberd Strategr (43,000,43,000,37,000,97,000) Alse, on a summary sheet in your Excel file, rank the three strateges by cost from loweit to hichest