PLEASE SOLVE IT BY HAND

Adnan Baig designed an innovative bike, and they hire you from NUST Business School to improve its aggregate schedule. The finance manager has provided the costs related to the aggregate plan, and the production department has provided a four-year forecast. Mr. Adnan asks you to try different options and evaluate these on cost basis. a) First, try hiring and layoffs (to meet the forecast) as necessary. b) Then try a plan with level strategy that produces 1,300 cases per year and meets the forecast demand with inventory and subcontracting. c) Lastly, a plan with level strategy. (4 marks) Year 2021 2022 2023 2024 Forecast Demand 2150 1200 1600 850 Hiring workers Layoff workers Subcontracting cost Unit cost on regular time Overtime cost Capacity on regular time Previous year's production Beginning inventory Stockout cost Inventory holding cost $40 per unit $80 per unit $60 per unit $30 per unit $25 extra per unit 2,150 units per year 1,300 unit O unit $250 per unit $40 per unit at end of year