HW8 Cost data Regular time labor cost per hour Overtime labor cost per hour Hiring cost per employee Firing cost per employee Inventory holding cost per unit per period Shortage cost per unit per period Material cost per unit Capacity data Beginning workforce (employees) Beginning inventory (units) Labor standard per unit (hours) Regular time hours available per period per employee Overtime hours available per period per employee Demand data $10.00 $15.00 $100.00 $200.00 $20.00 $30.00 N/A 165 0 5 160 32 Nov Dec Jan Feb March April 5,000 6000 5,000 7,000 5,000 6,000 1. Use the data above and do a level strategy using inventory and backorders (5 steps) (9 points) 2. Use the data above and do a chase strategy using hiring and firing (5 steps) (6 points) (hint: if the calculation for the employees needed for a certain period is not a whole number, round it up to be a whole number, no matter if the first digit is equal to, greater than, or less than 5)