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A E F H J K 9 11 12 D 5 #3. Develop a aggregate production plan for the given data. (40 points) 6 7 Input data 8 Initial inventory of valves 150 Initial number of workers 50 10 Regular hours/worker/month 160 Maximum overtime hours/worker/mont 25 Labor hours/unit 2.5 13 14 Cost data 15 Regular wages/worker/month 2400 Overtime time premium wage 1.5 17 Hiring cost/worker 2500 18 Firing cost/worker 3000 Holding cost/unit in inventory/month Raw material cost/unit 25 21 22 Overtime wage rate/hour 23 24 Workers hiring/firing 16 19 3 20 A c D G H 1 K L M N O P Q Workers hiring firing Month 1 Month 2 Month Month 4 Months Month 6 23 24 25 26 27 28 Workers from previous month Workers hired Workers fired Workers on the roll after hiring and firing Overtime labor hours scheduled Maximum overtime labor hours possible 10 31 32 33 34 35 36 37 Maximum overtime possible is based on the number of workers on the roll and maximum possible overtime each worker is allowed. Month 1 Month 2 Month Month 4 Month 5 Month 6 Production plan Valves produced Total labor hours needed for production Total labor hours needed for production is based on values produced and the labor hours needed per unit 39 Total hours available for production Inventory after production Total hours available for production is the sum of regular time and scheduled overtime. 2500 3500 5000 4500 3500 3500 Forecasted demand Ending inventory 43 2500 3500 5000 4500 3500 3500 Forecasted demand Ending inventory 45 46 Total cost 48 Monetary outputs Hiring cost Firing cost Regular.time wages Overtime wages Raw material cost Holding cost Total cost Note: Do not compute the costs individually for each month. Directly compute the total cost for all the six months for each category 50 51 52 53 54 Answer key - 1443567.5