2. Joe Studio, a dealer in contemporary art, has forecasted its seasonal financing needs for the next six months as follows: Month Seasonal Requirement (a) The firm projects that short-term funds will cost 10 percent and January 5125 February long-term funds will cost 12 percent annually 190.00 March (b) 2 The firm's permanent funds requirement is $450,000 April 1.995.000 May 1.342.000 Calculate financing costs for the first six months using the aggressive and June 1962.000 conservative strategies 3. Joe Products uses 840 units of a product per year on a continuous basis. The product has carrying costs of $50 per unit per year and order costs of S250 per order. It takes 25 days to receive a shipment after an order is placed and the firm requires a safety stock of 7 days usage in inventory. (a) Calculate the economic order quantity (EOQ). (b) Determine the reorder point. (Assume a 360-day year.) 3. Joe Products uses 840 units of a product per year on a continuous basis. The product has carrying costs of $50 per unit per year and order costs of $250 per order. It takes 25 days to receive a shipment after an order is placed and the firm requires a safety stock of 7 days usage in inventory. (a) Calculate the economic order quantity (EOQ). (b) Determine the reorder point. (Assume a 360-day year.)