Question: Find minimum cost production plan using solver in excel. Find MINIMUM COST solution. Given the projected demands for the next six months, prepare an aggregate

Find minimum cost production plan using solver in excel. Find MINIMUM COSTsolution. Given the projected demands for the next six months, prepare an

Find minimum cost production plan using solver in excel. Find MINIMUM COST solution.

aggregate plan that uses inventory, regular time, overtime, subcontract and backorders. Regular

Given the projected demands for the next six months, prepare an aggregate plan that uses inventory, regular time, overtime, subcontract and backorders. Regular time is limited to 150 units per month (Cost per Unit =$40). Overtime is limited to a maximum of 20 units per month (Cost per Unit =$60). Units purchased from the subcontractor (Cost per Unit =$72 ) cannot exceed 70 per month and the total purchases from the subcontractor over the 6 month period cannot be over 210 units. Backorders cannot exceed 30 units in any given month (Cost per Unit =$3 ) and must be no more than 30 in Period 6. Average Inventory Holding cost per Unit =$6. Forecasted Demand as well as Beginning and desired Ending Inventory are listed in the table below. \begin{tabular}{|c|c|c|c|c|c|c|c|} \hline Month & 1 & 2 & 3 & 4 & 5 & 6 & Total \\ \hline \multicolumn{8}{|l|}{ Regular Output } \\ \hline \multicolumn{8}{|l|}{ Overtime Output } \\ \hline \multicolumn{8}{|l|}{ Subcontract } \\ \hline Beginning Inventory & 10 & & & & & & \\ \hline \multicolumn{8}{|l|}{ Total Available for Sale } \\ \hline Less Forecast & 220 & 180 & 280 & 160 & 150 & 190 & \\ \hline \multicolumn{8}{|l|}{ Plus Backlog-Current Period } \\ \hline \multicolumn{8}{|l|}{\begin{tabular}{l} Less Backlog-Previous \\ Period \end{tabular}} \\ \hline Ending Inventory & & & & & & 0 & \\ \hline Average Inventory & & & & & & & \\ \hline \end{tabular} Tot: Tot: Tot: ,7: Tot: Tot: ,5\% Ans

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