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(Solved by Expert Tutors) 1.Develop a production plan and calculate the annual cost for a firm


whose demand forecast is fall, 10,000; winter, 8,000; spring, 7,000; summer, 12,000. Inventory at the beginning of fall is 500 units. At the beginning of fall you currently have 30 workers, but you plan to hire temporary workers at the beginning of summer and lay them off at the end of the summer. In addition, you have negotiated with the union an option to use the regular workforce on overtime during winter or spring if overtime is necessary to prevent stockouts at the end of those quarters. Overtime is not available during the fall. Relevant costs are: hiring, $100 for each temp; layoff, $200 for each worker laid off; inventory holding, $5 per unit-quarter; backorder, $10 per unit; straight time, $5 per hour; overtime, $8 per hour. Workers are paid for the number of hours needed only. Assume that the productivity is 0.5 unit per worker hour, with eight hours per day and 60 days per season. No ending inventory is required for the final period. (Round up number of workers to the next whole number and the rest of your answers to the nearest whole number. Negative answers should be indicated by a minus sign. Leave no cells blank - be certain to enter "0" wherever required. Omit the "$" sign in your response.)Forecast Beginninginventory Productionrequired Production hoursrequired Production hoursavailable Overtimehours Actualproduction Endinginventory Workershired Workerslaid offFall Winter Spring Summer Back order, Overtime, Hiring, Lay off, Inventory, Straight time, TotalFall Winter Spring Summer Total

 


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Apr 19, 2020

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