The monthly forecastsfor Product X for January, February, and March are 900, 1,550, and 1,170, respectively. Safety stock policy recommends that half of the forecast for that month be defined as safety stock. There are 22 working days in January, 19 in February, and 21 in March. Beginning inventory is 600 units. Manufacturing cost is $210 per unit, storage cost is $4 per unit per month, standard pay rate is $7 per hour, overtime rate is $11 per hour, cost of stockout is $8 per unit per month, hiring and training cost is $120per worker, layoff cost is $220 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 40 workers and that they work 8 hours per day. (Leave no cells blank - be certain to enter "O" wherever required. Input all values as positive values. Round Workers Required eBook References up to next higher whole number. Round all other variables to nearest whole number.) January february March
Forecast 900 1.550 1,170
Safety stock
Beginning inventory
Net production required
Workers required
Hired
Laid off
Actual production
Ending inventory
January february March
Labor cost
Inventory cost
Hiring cost
Layoff cost
Total cost
Total