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Costs associated with operations are as follows:

Wages $=$$$800$ per worker per month

Hiring cost $=$$$300$ per worker

Layoff cost $=$$$200$ per worker

The current workforce level is nine workers, and the undertime is paid for. Use the table$/$spreadsheet approach and the preceding data to answer the following questions.

Use the information in Table $10\mathrm{.}2.$ Suppose that overtime is allowed up to $25\%$ of the regular$-$time capacity, and that overtime wages are $150\%$ of the regular$-$time rate. The total cost of the level strategy with overtime and undertime, which also minimizes undertime, is:

$$ greater than $$70,000.$

less than or equal to $$60,000.$

greater than $$60,000$ but less than or equal to $$65,000.$

greater than $$65,000$ but less than or equal to $$70,000.$