Excel Online Activity: EOQ The sales of a popular mouthwash at Merkle Pharmacies over the past 6 months have averaged 1,600 cases per month resulting in 19,200 cases per month, which is the current order quantity. Merkle's cost is $10.00 per case. The company estimates its cost of capital to be 14 percent. Insurance, taxes, breakage, handling, and pilferage are estimated to be approximately 7 percent of item cost. Thus, the annual inventory-holding costs are estimated to be 2]. percent ofitem cost. The cost of placing an order is estimated to be $34.00 per order regardless of the quantity requested in the order. The data has been collected in the Microsoft Excel Online file below. Open the spreadsheet and perform the required analysis to answer the questions below. E Open spreadsheet Questions 1. What is the minimum-cost economic order quantilw? Round your answer to the nearest whole number. 895.573 cases 2. What is the annual ordering cost based on the minimumcost economic order quantity? Use the rounded EOQ value in your calculations. Round your answer to the nearest cent. $ 1047.82 3. What is the annual inventory holding cost based on the minimum-cost economic order quantity? Use the rounded EOQ value in your calculations. Round your answer to the nearest cent. $ 1047.82 4. What is the total annual cost based on the minimumcost economic order quantity? Use the rounded EOQ value in your calculations. Round your answer to the nearest cent. $ 360895.64 5. What are the total cost savings in absolute and relative terms caused by using the minimum-cost economic order quantity instead of the current purchasing policy of Q = 1,600? Use the rounded EOQ value in your calculations. Round your answer for the absolute cost savings to the nearest cent and answer for relative cost savings to the nearest whole number. EOQ Benet: $ EOQ Benet (\"/a): % 6. Choose the correct graph for the cost functions. The correct graph is -. Arial General .00 Formatting Styles Format As Table SHE V ZX Format " X V fx Economic Order Quantity Model B C D E F G H I K L M N O Economic Order Quantity Model P Q R S Annual Demand Rate 19,200 Use the area below to draw a line chart for cost functions. Ordering Cost $34.00 Unit Cost $10.00 Carrying Charge Rate 0.21 Formulas Economic Order Quantity (to the nearest whole) #N/A Order cost #N/A Inventory cost #N/A Total cost #N/A Sensitivity Analysis Order Quantity 1,600 Order cost #N/A 16 Inventory cost #N/A Total cost #N/A EOQ Benefit #N/A EOQ Benefit (% #N/A Chart Calculations Order Quantity Order cost Inventory cost Total cost 394 #N/A #NIA #N/A 473 #N/A #NIA #N/A 552 #N/A #N/A #N/A 630 #N/A #N/A #N/A 709 #N/A #NIA #N/A 788 #NIA #NIA #N/A 867 #N/A #N/A #N/A 946 #N/A #N/A #N/A 1,024 #N/A #NIA #N/A 1,103 #NIA #NIA #N/A 1,182 #N/A #N/A #N/A 1,261 #NIA #N/A #N/A 1,340 #N/A #NIA #N/A 1,418 #N/A #NIA #N/A 1,497 #N/A #NIA #N/A