A seasonal index for a monthly series is about to be calculated on the basis of three years' accumulation of data. The three previous July values were 165,175 and 145 . The average demand over all months during the three-year time period was 290 . What is the approximate seasonal index for July? Answer: 0.37(0.56) uestion 25 A cake factory can produce cakes at the rate of 560 per day. The factory supplies its cakes to local grocery stores at a rate of 220 per day. The cost to prepare the equipment for producing the cakes is $50 and lead time for setup is 2 days. Annual holding costs are $3.50 per cake. Assume that the factory operates 250 days a year. What is the Total annual inventory Cost? Answer: (3,419)