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E G H J K L M K= Total Costa B 1 0.500 units/worker"day 2 Holding cost per unit per month 12 3 hiring cost per worker 1250 4 Firing cost per worker 1600 5 Payroll costs 250 6 Shortage cost 80 7 Inventory cost- hiring cost Firing cost Payroll cost Variable worker production plan Variable workforce Cumulative production Workers Workers hired fired Working days Number of workers 40 Month (t) 0 1 Inventory 0 0 Net Cumulative Demand Net Demand 0 0 460 460 350 280 215 21 2 8 Month 9 10 January 11 February 12 March 13 April 14 15 16 17 3 20 23 22 4 Suppose you are going to use the chase (zero inventory) strategy for production planning. Your net demand for the months of January, February March, and April are 460, 350, 280, and 215, respectively. The number of working days in each month are 21, 20, 23, and 22 respectively. Holding cost is $12 per unit per month, and shortage cost is $80 per unit per month. There is a $1250 hiring cost per worker and a $1600 firing cost per worker. Each employee is paid $250 per day worked. K was calculated to be 0.5. Using this information and the spreadsheet provided, calculate the total cost Exam1_ChaseWorksheet.xlsx Save your work as a separate file, and upload the file here