7. (**) Complete the chase production plan using the following information. The only costs you need to consider here are layoff, hiring, and inventory costs. If you complete the plan correctly, your hiring, layoff, and inventory costs should match those given.

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LAYOFF HIRING INVENTORY Totals: 250 250 12,000 Costs: $500,000 $750,000 $72,000 Cost of plan: $1,322,000 Planning values Starting inventory: 1000 Starting and ending workforce: 227 Hours worked per month per worker: 160 Hours per unit: 20 Hiring cost per worker: $3000 Layoff cost per worker: $2000 Monthly per-unit holding cost: $6