Formulate this problem as an LP (do not solve, just formulate)
ABC company produces and sells wooden desks. The demand is forecasted for eachmonth of the next year. The company currently has 20 employees and each employeecan produce 30 desks in a month. The monthly salary of each employee is $110. Sinceraw material cost change at each month, the production costs are different for eachmonth of the year. Excessive amount produced in a month can be stored in theinventory for use in the following months. However, the storage space has a capacityof 300 desks in total. The inventory holding costs are also different at each month. Inorder to satisfy excessive demand in a month, the company may use its inventories,may implement overtime working hours, or hire additional workers. The total overtimeproduction for each worker at each month can be at most 10% of the regular timeproduction. Also the overtime production cost is different than the regular timeproduction cost. Furthermore, the maximum number of workers who can work in thecompany at the same time is 25. It is also possible to fire the workers but the workforcecannot be less than 15. Hiring and firing costs differ each month. The objective function is to minimize the total cost.
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