Solve the below problem:
Q: The Seymore Bicycle manufacturing company of Boise, Idaho has developed the following demand forecast for next year's bicycle:
Quarter 1 2 3 4
Sales 5,000 10,000 8,000 2,000
On January 1, there are 1,000 units in inventory. The firm has prepared the following data:
Hiring cost/employee = $ 200
Firing cost/employee = $ 400
Beginning workforce = 60
Inventory carrying cost = $2 per unit per quarter of ending inventory
Stockout cost = $ 5
Regular payroll = $ 1200
Overtime cost = $ 2 per unit, limited to 40 units per employee per quarter
Each employee can produce 200 units per quarter on regular time
Demand not satisfied in any quarter is lost
Develop an aggregate planning using level production.
What will be the hiring firing strategy in chase production?