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 940, 1,530, and 1,200, 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 450 units. Storage cost is $6 per unit per month based on ending inventory level, standard pay rate is $6 per hour, hiring and training cost is $170 per worker, layoff cost is $270 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 41 workers and that they work 8 hours per day. (Leave no cells blank - be certain to enter "O" 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.) & Answer is complete but not entirely correct. February March Forecast 1,530 1,200 January 940 470 450 765 458 X 600 767 Safety stock Beginning inventory Net production required Workers required 1,837 121 66 1,033 62 960 55 14 0 968 Hired Laid off 59 X Actual production Ending inventory 1,839 767 1,042 609 478 & Answer is not complete. February January 58,080 March 62,496 $ $ 2,724 X Labor cost Inventory cost Hiring cost Layoff cost 2,380 0 Total cost $ 125,247 Total