A manufacturer keeps a continuous inventory review system on the key component, party. The annual demand for party is 4200 units. The supplier charges $60 foreach unit of party. Each order costs $250 to process and the annual holding cost per unit is 30% of the purchase price.e QI. What is the economic order quantity?e Q2. How many orders will be placed each year?e Q3. What will be the reorder point if the lead time is 15 days and there are 365 days every year?e The supplier plans to offer discounts on large orders in the following waye unite Order 0-3790 380 or mor Price Q4_ What will be the optimal order quantity according to the EOQ model if the price per unit is $50?e Q5. Are you able to order the quantity from the previous question (Question 10) at a price of $50 per unit?e Q6. What is the total annual cost (including purchasing cost) if you chose the EOQ from (question 1) for $60 per unit?e Q7. What is the total annual cost (including purchasing cost) if you chose Q=380 for $50 per unit?e Q8. Compare the total annual cost, what would be your optimal order quantity?e