Wantage Corporation sells 55,000 iPhone covers each year. These covers are sold evenly throughout the year Ordering costs are $180 per order, and carrying costs are $2.20 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) EOQ=C2DP (Round your answer to the nearest whole number.) The EOQ is units. Requirement 2. What is the relevant total cost? Determine the formula used to calculate the annual relevant fotal costs. (RTC = relevant total cost, 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.) RTC=QDP+2QC (Round your answer to the nearest whole number.) The RTC is Requirement 3. If the purchase-order lead time is 1 week, what is the reorder point? Determine the formula, then calculate the reorder point. (Enter any calculated number in the formula to two decimais, XXX. Round your answer to the nearest whole number.) 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