Problem 8-14 (Algo) 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. Manufacturing cost is $200 per unit, storage cost is $5 per unit per month, standard pay rate is $8 per hour, overtime rate is $12 per hour, cost of stock-out is $10 per unit per month, marginal cost of subcontracting is $9 per unit, 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 the cells blank, whenever zero (0) is required. Input all values as positive values. Round up "Workers Required" to the next higher whole number. Round all other answers to the nearest whole number.) January 1,010 February 1,490 March 1,240 Forecast Safety stock Beginning inventory Net production required Workers required Hired Laid off Actual production Ending inventory January February March Labor Inventory Hiring Layoff Total S 0 $ 0 S 0 Total $ 0