Melchar Company uses 86,118.40 pounds of oats each year. The cost of placing an order is $15, and the carrying cost for one pound of oats is $0.48.

Required:

1. Compute the economic order quantity for oats. If required, round your answer to the nearest whole number.

_ pounds

2. Compute the carrying and ordering costs for the EOQ. If required, round your answers to the nearest cent.

Carrying cost
Ordering cost