PROBLEM #1: A production manager needs to develop a production schedule to meet the following demand Period 1 2 3 4 Demand 500 1300 1600 500 production costs are as follows production cost during regular time: $4 per unit cost of subcontracting $5 per unit Inventory carrying cost $3 per unit per period Back-order costs $8 per unit per period Regulu production rate: 900 units per period You can subcontract at the rate of 150 units per period only during the second and third periods Develop a production schedule for this scenario and answer the following questions Equation: Surplus/Shortage in any period Quantity Produced Quantity Subcontracted Demand