Question 3 A manufacturer. Erays produces relay Ray'l for industrial use. The manufacturer needs to determine the order quantity for a LT. which is used to prodUce Rayi The price schedule for LT, offered by the supplier. is as follows:- Order Quantity Price per unit is} 0 - 2499 0.82 2500 4999 5000 or more (a) Annual requirement for LT is 50.000 units. Ordering cost is $30 and holding cost is 20 percent of price of material. Evaluate the various discount options and advise the manufacturer on the optimal quantity of LT that the manufacturer should order at a time. (24 marks) (1:) Calculate the total annual material cost with the optimal order quantity. (6 marks) [Total: 30 marks]