Wantage Corporation sells 42,000 iPhone covers each year. These covers are sold evenly throughout the year. Ordering costs are $240 per order, and carrying costs are $3.50 per unit per year. Requirement 1. What is the economic order quantity (EOQ) for ordering the covers? Begin by selecting the formula used to calculate EOQ. (D = Demand in units for one year, P = Ordering cost per purchase order, C = Carrying cost of one unit in stock, Q = Any order quantity) V (Round your answer to t e nearest whole number.) The EOQ lS units. Requirement 2. What is the relevant total cost? Determine the formula used to calculate the annual relevant total costs. (RTC = relevant total cost, D = Demand in units for one year, P=Ordering cost per purchase order, C = Carrying cost of one uni in stock, Q = Any order quantity.) V (Round your answer to the nearest whole number.) The RTC is . Requirements 1. What is the economic order quantity (EOQ) for ordering the covers? 2. What is the relevant total cost? 3. If the purchase-order lead time is 1 week, what is the reorder point