Ocean View Apparel, Inc., manufactures custom-designed swimsuits, beach cover-ups, sun hats, and other stylish beachwear. The demand for their custom-designed swimsuits is 8,000 per year, and this demand has been constant throughout the year. Ocean View's production facility has the capacity to sew 120 swimsuits per day. The setup cost for each production run is $500. The value of finished goods inventory is $60 per swimsuit. The annual per-unit inventory holding cost is 25 percent of the item's value. The current production plan calls for 500 swimsuits to be sewn in each production run. Assume there are 250 working days per year. a) What is the daily demand for this product? b) If the company were to continue to sew 500 swimsuits each time production starts, how many days would production continue? c) Under the current policy, how many production runs per year would be required? How many swimsuits would be in inventory when production stops? d) If the current policy continues, what would the total annual setup cost and holding cost be? e) If OceanView Apparel, Inc. wants to minimize the total annual inventory cost, how many swimsuits should be produced in each production run (Using Production Order Quantity)? How much would this save the company in inventory costs compared to the current policy of sewing 500 swimsuits in each production run