Question: Please provide excel formulas Question 2: The production manager at the Boston Paint Company is preparing production and inventory plans for next year. The production
Please provide excel formulas
Question 2: The production manager at the Boston Paint Company is preparing production and inventory plans for next year. The production manager has received the following quarterly sales forecasts: 3,000 units in Quarter 1; 1,800 in Quarter 2; 2,400 in Quarter 3; and 3,500 in Quarter 4. Based on this and the following information, prepare an optimal (lowest-cost) production plan for the next year for the manager. [30 points) Current inventory level is 300 units. Current employment level is 600 people. Regular production capacity per employee is 4 units per quarter. Inventory carrying cost is $20 per unit per quarter (based on ending inventory). Hiring and layoff costs are equal at $200 per employee. Regular time production cost per unit is $320. Overtime production cost per unit is $380. Desired closing inventory level is a minimum of 100 units. Question 2: The production manager at the Boston Paint Company is preparing production and inventory plans for next year. The production manager has received the following quarterly sales forecasts: 3,000 units in Quarter 1; 1,800 in Quarter 2; 2,400 in Quarter 3; and 3,500 in Quarter 4. Based on this and the following information, prepare an optimal (lowest-cost) production plan for the next year for the manager. [30 points) Current inventory level is 300 units. Current employment level is 600 people. Regular production capacity per employee is 4 units per quarter. Inventory carrying cost is $20 per unit per quarter (based on ending inventory). Hiring and layoff costs are equal at $200 per employee. Regular time production cost per unit is $320. Overtime production cost per unit is $380. Desired closing inventory level is a minimum of 100 units
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