Numbers to a woont Table Format Arrange View Share Window Help During the next four months, a customer requires respectively 500, 650, 1000, and 700 units of a commodity and no ba n gi wowed that is the customer's requirements must be met on time Production costs are $50, S80, 540, and 570 per une during these months. The storage cost from one month to the next is $20 per unit assessed on ending inventory. It is estimated that each unit on hand at the end of month can be sold for so. Assume there is no initial inventory. The company wants to decide on how many units to produce each month Determine how to minimize the netcost incurred in meeting the demands for the next four months. His the commodity is not divisible and outlevel must be integers Unit production cost Unit holding con wwertory Orhand ter production Meeting demand with no backlogging Textbook pp. 125, #28. During the next four months, a customer requires, respectively, 500, 650, 1000, and 700 units of a commodity, and no backlogging is allowed that is, the customer's requirements must be met on time). Production costs are $50, $80, $40, and $70 per unit during these months. The storage cost from one month to the next is $20 per unit (assessed on ending inventory). It is estimated that each unit on hand at the end of month 4 can be sold for $60. Assume there is no initial inventory. The company wants to decide on how many units to produce each month. Determine how to minimize the net cost incurred in meeting the demands for the next four months. Hint: the commodity is not divisible and output level must be integers. Month Unit production cost Unit holding cost $50.00 $20.00 $0.00 $20.00 $40.00 $20.00 $70.00 .560 Revenue from end-of-month 4 sale Initial inventory Beginning inventory Units Produced Onhand after production 500 650 1000 700 Demand Ending Inventory Production cost Holding cost Total cost