Seminar Activity 1 The pricing, costing, productivity and inventory information is as follows: - Selling price: $30 per unit - Inventory carrying cost: $2 per unit per month - Backorder cost: $5 per unit per month - Working hours: 8 hours per day - Average pay rate: $5 per hour ($40 per day per worker) - Average material cost: $11 per unit - Labour-hours to produce a unit: 1.6 hours per unit - Cost of hiring a new employee: $300 - Cost of laying off an existing employee: $500 - Initial inventory: 300 units Seminar Activity 1 Produce an aggregate plan using level strategy. - What does it mean by level strategy? - What is(are) the decision variable(s)? - What is the resulting total cost? Inventory carrying cost Backorder cost Material cost Manpower cost - What is the resulting net profit? Revenue