1. The fine Garments Company sells fashion clothing. The forecasted annual demand for its premium leather jacket is 1200 annually. The ordering cost is $25. The price per jacket is $200 and the holding cost is 25% of the cost. The company operates 300 days per year with a guaranteed goods delivery lead time of 14 days. a. What is the optimal order quantity (3 marks) b. What is the total annual cost (3 marks) c. What is the expected time between orders (2 marks) d. Calculate the ROP (2 marks) 2. Caribbean Maritime University enrollment estimation is 2000. However, they only have enough furniture for 900 students. They contacted Wileys furniture who charges $100 per chair and $300 per table that's seats 4 persons. Wileys furniture operates every day except on public holidays and weekends. The cost to carry the furniture is $200 per year and the ordering cost is 20% of the procurement cost. School is open 250 days per yearwith a lead time of 7 days. Find a. The optimal order quantity ( 5 marks) b. Time between orders (5 marks) c. TAC (5 marks) d. ROP