Shoemakers of America forecasts the following demand for the next 6 months: 5000 pairs in month 1; 6000 pairs in month 2; 5000 pairs in month 3; 9000 pairs in month 4; 6000 pairs in month 5; 5000...

Shoemakers of America forecasts the following demand for the next 6 months: 5000 pairs in month 1; 6000 pairs in month 2; 5000 pairs in month 3; 9000 pairs in month 4; 6000 pairs in month 5; 5000 pairs in month 6. It takes a shoemaker 15 minutes to produce a pair of shoes. Each shoemaker works 150 hours per month plus up to 40 hours per month of overtime. A shoemaker is paid a regular salary of $2000 per month plus $50 per hour for overtime. At the beginning of each month, Shoemakers can either hire or fire workers. It costs the company $1500 to hire a worker and $1900 to fire a worker. The monthly holding cost per pair of shoes is 3% of the cost of producing a pair of shoes with regular-time labor. The raw materials in a pair of shoes cost $10. At the beginning of month 1, Shoemakers has 13 workers. Determine how to minimize the cost of meeting (on time) the demands of the next 6 months.