1 Problem 8-14 (Static) 25 points Boc Develop a production schedule to produce the exact production requirements by varying the workforce sire for the following problem, The monthly forecasts for Product X for January, February, and March are 1000, 1.500, and 1200, 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 500 units. Manufacturing cost is $200 per unit, storage cost is $3 per unit per month, standard pay rate is $6 per pour, overtime rate is $9 per hour, cost of stock-out is $10 per unit per month, marginal cost of subcontracting is $10 per unit, hiring Ind training cost is $200 per worker, layoff cost is $300 per worker and worker productivity is 1 unit per hour. Assume that you start off with 50 workers and that they work 8 hours per day (Leave the cells blank, whenever zero (0) is required. Input all values as positive values. Round your answers to the nearest whole number.) Print January 1,000 500 500 1 000 57 February 1,500 750 500 1.750 115 58 March 1.200 600 750 1,050 Forecast Safety stock Beginning inventory Net production required Workers required Hired Laid off Actual production Ending Inventory 7 53 500 750 600 March January February 1,400 $ 11,663 Labor Inventory Hiring Layoff Total 15,789 $ 1,400 $ 11,663 $ Total $ 15,789 28,852