Response to the following::
The forecasted demand is 1500, 1600, 1300, 1100, for quarters 1,2,3,4, respectively. The beginning and ending annual inventory is allowed, unit carrying cost of $2/item/quarter, hiring cost is $92/worker, firing cost is $84/worker, and the labor standard is 6.5 hours/unit. What is the minimum cost of the optimal production plan where the total annual cost consists of carring, hiring, and firing?