The table below shows the aggregate sales forecasts for a product family for the year...
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Accounting
The table below shows the aggregate sales forecasts for a product family for the year along with the number of working days per month. The following assumptions are made:
Cost of a unit is $30.
Number of units produced per employee per day is 3.
Hiring cost per employee is $200.
Firing cost per employee is $500.
Inventory carrying cost per unit per month is 2%.
Shortage cost per unit is $50.
Beginning inventory is 115, and ending inventory is 100.
Beginning labor force is 10.
If number of workers needed has fractions, then always round up.
| Month | Jan | Feb | Mar | Apr | May | Jun | Jul | Aug | Sep | Oct | Nov | Dec |
| Forecast | 253 | 280 | 340 | 300 | 393 | 233 | 287 | 420 | 480 | 427 | 527 | 393 |
| Days/Month | 20 | 21 | 23 | 20 | 22 | 22 | 10 | 23 | 20 | 22 | 20 | 20 |
Develop a level production plan and a chase production plan, and compare the costs of the two plans. Note, you should plan to reach the ending inventory of 100 by the end of January.
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