The forecasted demand is 1500 1600 1300 1100 for quarters, Ask an Expert

Management Studies

The forecasted demand is 1500, 1600, 1300, 1100, for quarters 1,2,3,4, respectively. The beginning and ending annual inventory is 600, no negative inventory is allowed, unit carrying cost is $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 carrying, hiring, and firing?

(A) $1125 (B) $5900 (C) $2850 (D) $3300 (E) none of the above

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M91904820

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