Problem 11-38 (Static) A particular raw material is available to a company at three different prices, depending on the size of the order: Less than 100 pounds 100 pounds to 1,000 pounds More than 1,000 pounds $20 per pound $19 per pound $18 per pound The cost to place an order is $40. Annual demand is 3,000 units. The holding (or carrying) cost is 25 percent of the material price. What is the economic order quantity to buy each time, and its total cost? units Economic order quantity Total cost