a. What is the optimal order quantity for P34? b. When (i.e., level of inventory on-hand) should the manager reorder P34? c. How many orders does the company make in a year under your proposed inventory management policy?

d. What is the total annual cost under your proposed inventory management policy? e. The company has decided to round the order quantity to the nearest multiple of 100 units for convenience. What is the total annual cost in this case?

Please use the formula provided for guidence.

A manager must set up a fixed-order quantity inventory policy for item P34, based on the following data. The firm operates 50 weeks a year and weekly usage rate is normally distributed. Total cost =Orderingcost=(D/Q)S+Holdingcost+(Q/2)H+Purchasingcost+CD