Problem 19-14

Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem.

The monthly forecasts for Product X for January, February, and March are 1,010, 1,490, and 1,240, respectively. Safety stock policy recommends that half of the forecast for that month be defined as safety stock. There are 22 working days in January, 19 in February, and 21 in March. Beginning inventory is 550 units.

Storage cost is $5 per unit per month based on ending inventory level, standard pay rate is $8 per hour, hiring and training cost is $260 per worker, layoff cost is $360 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 42 workers and that they work 8 hours per day. (Leave no cells blank - be certain to enter "0" wherever required. Input all values as positive values. Round Workers Required up to next higher whole number. Round all other variables to nearest whole number.)

Help me please to find the red ones!

10 points (8 04:53:18 Answer is complete but not entirely correct. $ Labor cost Inventory cost Hiring cost Layoff cost Total cost Total January February 77,440 $ 138,624 $ 2,645 3,147 3,380 15,340 0 0 83,465 * $ 157,111 $ $ $ March 90,048 3,468 0 16,920 110,436 X 351,012 $