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

The current workforce level is 4 workers. Production rate is 150/ workeronth. 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 Level strategy is used, what is the total inventory cost, which includes inventory holding cost and back ordering cost? First, you need to determine the quantity to produce every period

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