Situation 5 Develop a Chase Strategy and a Level Strategy based on the following information. The Level Strategy requires the use of a constant workforce equal to the minimum requirement based on the expected demand (Note: Any needed capacity can be fulfilled with overtime.) Chase strategy should use 'hiring and firing' actions to balance the capacity. Twenty-three workers worked during February. Illustrate and explain which is the best plan. MarchA May June 250 200 1200 1200 1800 600 1800 21 300 Beginning Inventory Demand Forecast Number of Working Days by Month 20 21 Costs Materials 90.00 $per unit $8.50 $ per unit per month $25,00 $ per unit per month $60.00 Inventory holding cost Marginal cost of stockout Marginal cost of subcontracting Hiring and training cost Layoff cost Labor hours required per unit Straight-line cost (first eight hours each day) Overtime cost $4500.00 $6000.00 $ per worker $ per worker 3.0 per unit $1200 $ per hour 24.00 $ per hour