LMNO Gaskets has seeks an optimal production plan for a product to meet demand over the upcoming three quarters. Demand in each of the three quarters and production, overtime, and subcontracting capacities are reported in the table below. The relevant costs are:

• Regular time production cost is $20/unit.
• Overtime production cost is $30/unit.
• Subcontracting cost is $34/unit.
• Inventory is held at a cost of $5/unit/quarter.
• Units may be backordered at a cost of $8/unit/quarter

What is the cost of the optimal production plan (Use EXCEL Solver)? Show the steps and a screenshot of the excel file. Thanks!

\begin{tabular}{||c|c|c|c|c||} \hline \multirow{2}{*}{\begin{tabular}{c} Production \\ Resource \end{tabular}} & \multicolumn{2}{|c|}{ Demand in Quarter } & \multirow{2}{*}{ Capacity } \\ \cline { 2 - 5 } & Q1 & Q2 & Q3 & \\ \hline \hline Regular Time Q1 & & & & 600 \\ \hline \hline Overtime Q1 & & & & 300 \\ \hline \hline Subcontract Q1 & & & & 650 \\ \hline \hline Regular Time Q2 & & & & 600 \\ \hline \hline Overtime Q2 & & & & 300 \\ \hline \hline Subcontract Q2 & & & & 650 \\ \hline \hline Regular Time Q3 & & & & 600 \\ \hline \hline Overtime Q3 & & & & 300 \\ \hline \hline Subcontract Q3 & & & & 650 \\ \hline \hline Demand in Quarter & 1100 & 1900 & 660 & \\ \hline \end{tabular}