i. Calculate the Economic Order Quantity from the following information. Also state the number of orders to be placed in a year. Consumption of materials per annum: 10,000kg Order placing cost per order: GHs 50 Cost per kg of raw materials: GHs 2 Storage costs: 8% on average inventory ii. Cost may be classified in a variety of ways according to their nature and the information needs of the management. Classify the following costs and explain in detail. - Selling \& Distribution cost - Material Cost - Variable Cost - Administration Costs - Labour Cost - Fixed Cost