1. ABC company makes 15 orders of chairs in a year and orders 4,001 chairs each time. The fixed order costs are $822.77 per order and the carrying cost per unit is $47.11. The chairs are sold out before they are restocked. What are the shortage costs if the company orders the optimal quantity (Economic Order Quantity)? Enter your answer rounded off to two decimal points. Do not enter comma or $ in the answer box.

2.ABC Company currently has a cash cycle of 238 days. The company went through a management change. The new management has changed the working capital policies for the company. The new policies will decrease the inventory period by 24 days, decrease the accounts receivable period by 30 days, and decrease the accounts payable period by 45 days.

Calculate the number of days in the new cash cycle after the above changes become effective? That is, what is the new cash cycle?