Question: The current workforce level is 4 workers. Production rate is 150/worker/month. The following costs apply:Wages = $2,000/worker/month Hiring cost = $200/worker Layoff Cost = $250/worker

The current workforce level is 4 workers. Production rate is 150/worker/month. The following costs apply:Wages = $2,000/worker/month Hiring cost = $200/worker Layoff Cost = $250/worker Inventory holding cost = $1/unit/month Back ordering cost = $2/unit/month If a Chase strategy is applied, and hiring or layoffs are used as needed, what is the cost of hiring and layoffs? $1,850 $1,150 $1,600 $900 $2,950

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