solve using excel.

2. Suppose that Ivar Jorgenson, a head operations planner for Bi-Product Company, finds out that the long-range forecast was revised by the growing economy. As a result, the marketing department at Bi-Product Company raises its forecast for quarter 2, 3 and 4 sales of Product B to 7000,6500 and 7000 units respectively. He will now have to develop and analyze several alternative level plans for next year. Keep in mind that each of these plans must consider: - Beginning inventory of 1,000 units of Product A and 500 units of Product B. - Ending inventory and back orders for quarter 4 must be zero - Each plan must have the same level total-output rate each quarter. a. Develop a level plan that uses overtime by regular, full-time employees to meet the new demand conditions (with no additional hiring). Calculate the total annual cost of this plan. b. Develop a second plan that will use regular employees (no overtime) plus subcontracting to meet the new demand conditions (with no additional hiring). Calculate the total annual costs. c. Another possibility would be to hire additional full-time employees on January and employ him/her for the full year. Calculate the total annual cost. (overtime, subcontract and part-time are not allowed) d. What would you suggest to Ivar Jorgenson for the best plan? Why