Question: 8. The annual demand for the bolt-nut package for the aircraft manufacturer Excel database Purchase Orders (see Example 1.3 in Chapter 1) is 60,000. The

8. The annual demand for the bolt-nut package for the aircraft manufacturer Excel database Purchase Orders (see Example 1.3 in Chapter 1) is 60,000. The fixed cost of placing an order is $50 and the unit cost of the item is $3.95. The company uses an annual carrying charge of 15%. Use the Economic Order Quantity Model spreadsheet and Solver to find the optimal order quantity.

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