Question: Reference: Use the following for problems 1-3. Labor #units Labor Cost Period 1 200 regular 24 $/hr Period 2 150 Overtime 32 $/hr Period 3

Reference: Use the following for problems 1-3.

Reference: Use the following for problems 1-3. Labor #units Labor Cost Period 1 200 regular 24 $/hr Period 2 150 Overtime 32 $/hr Period 3 185 hiring 125 $/employee Period 4 210 firing 200 $/employee Capacity Employee initial 2 employee fabrication 3.6 hrs/unit regular time hr/time 160 period/employee hr/time period/employee overtime 40 1. Calculate the total cost to meet the demand using a chase production plan without using overtime. 2. Calculate the total cost to meet the demand using a chase production plan with overtime. Once overtime is approved the workers are on the job 12 hours each day for the full period. 3. Calculate the total cost to meet the demand using a level production plan with overtime. Once overtime is approved the workers are on the job 12 hours each day for the full period. Each unit that cannot be filled with a level production plan will be back-ordered and costs the firm $150. Assume that the employees can only finish a whole unit and round up/down accordingly

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