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The Ostrya Virginiana furniture company produces wooden chairs. The demand for chairs is 500 units per month. The setup cost for production is $300 and

The Ostrya Virginiana furniture company produces wooden chairs. The demand for chairs is 500 units per month. The setup cost for production is $300 and the holding cost is $12 per chair per year. The production rate is 100 chairs per day. Assume 30 working days per month. Determine the EP

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