please show excel formulas and answer please in excel.

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7. The production manager at the Boston Paint Company is preparing production and inventory plans for next year. The production manager has the following data concerning the firm: Current inventory level =300 units. Current employment level =600 people. Production rate last quarter =2,400 units (4 units/employee/quarter). Inventory carrying cost =$20 /unit/quarter (on ending inventory). Hiring cost =$200 /employee hired. Layoff cost =$200 /employee laid off. Regular time production cost per unit =$320 /unit. Cost of overtime =$60/ unit. Desired closing inventory level =100 units (minimum). Problems 151 The production manager sees no equipment capacity limitations during the next two years. Employees are hired or laid off only at the beginning of each quarter. Formulate a linear programming production planning model for this company, in sufficient detail so the production manager can solve it to determine the production plan. 7. The production manager at the Boston Paint Company is preparing production and inventory plans for next year. The production manager has the following data concerning the firm: Current inventory level =300 units. Current employment level =600 people. Production rate last quarter =2,400 units (4 units/employee/quarter). Inventory carrying cost =$20 /unit/quarter (on ending inventory). Hiring cost =$200 /employee hired. Layoff cost =$200 /employee laid off. Regular time production cost per unit =$320 /unit. Cost of overtime =$60/ unit. Desired closing inventory level =100 units (minimum). Problems 151 The production manager sees no equipment capacity limitations during the next two years. Employees are hired or laid off only at the beginning of each quarter. Formulate a linear programming production planning model for this company, in sufficient detail so the production manager can solve it to determine the production plan