Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem.

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Develop a production schedule to produce the exact production requirements by varying the workforce size for the following problem. The monthly forecasts for Product X for January, February, and March are 960, 1, 510, and 1, 210, 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 510 units. Manufacturing cost is $130 per unit, storage cost is $5 per unit per month, standard pay rate is $7 per hour, overtime rate is $11 per hour, cost of stockout is $11 per unit per month, hiring and training cost is $300 per worker, layoff cost is $400 per worker, and worker productivity is 0.1 unit per hour. Assume that you start off with 48 workers and that they work 8 hours per day. (Leave no cells blank be certain to enter “0” wherever required. Input all values as positive values. Round Workers Required up to next higher whole number. Round all other variables to nearest whole number.)

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