Question: 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 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 here.

Complete the chase production plan, using the following information. The only costs

you need to consider here are layoff, hiring, and inventory costs. If(Show how to do it step by step)

\begin{tabular}{|l|r|r|r|} \hline & \multicolumn{1}{|l|}{ Layoff } & \multicolumn{1}{|l|}{ Hiring } & \multicolumn{1}{|l|}{ Inventory } \\ \hline Totals & 250 & 250 & 12000 \\ \hline Costs & $500,000 & $750,000 & $72,000 \\ \hline Cost of plan & & $1,322,000 & \\ \hline planning values & & & \\ \hline Starting inventory & & & 1000 \\ \hline Starting and ending workforce & & & 227 \\ \hline Hours worked per month per worker & & & 160 \\ \hline Hours per unit & & & 20 \\ \hline Hiring cost per worker & & & $3,000 \\ \hline Layoff cosy per worker & & & $2,000 \\ \hline Monthly-per-unit holding cost & & & $6 \\ \hline \end{tabular}

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