Given the following production plan:

• Briefly explain the differences between a Chase Production Strategy and a Level Production Strategy, then use:
  • (a) chase production strategy and (b) level production strategy to compute the monthly production, ending inventory or backlog, and workforce levels.

A worker is capable of producing 50 units per month. Assume the beginning inventory as of January is 500 units, and the firm desires to have 200 units inventory at the end of June.

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