What is the total cost of hiring and firing

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Reference no: EM131713951

Month. Sales forecast for Gauge sets

Jan 2018. 3440

Feb. 3560

March. 3360

April. 2600

May. 3720

June. 3960

July. 3320

August. 3240

Maunufactiring cost per gauge set: $17.50

Overtime manufacturing cost per gauge set: $31.00

Holding cost: $6 per gauge set per month

Average labor hours required per gauge set: 4 hours

Labor hours available per employee per month: 160

Cost to hire and train a new employee: $425

Cost to lay off an employee: $865

Beginning workforce is 85 workers (Regular production capacity)

Beginning inventory is 300 gauge sets

Ending inventory for August must be at least 300 gauge sets (Inventory in other months doesn’t matter)

Question:

1. What is the total cost for Regular and Overtime production?

2. What is the total cost of Hiring and Firing?

3. What is the total cost of holding ending inventory for the entire planning period?

Reference no: EM131713951

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