Consider a manufacturer who orders a particular part to supply a production process

Consider a manufacturer who orders a particular part to supply a production process. Assume that the cost and demand characteristics for the ordered part satisfy the assumptions of the EOQ. Specifically, suppose that demand occurs at a constant rate of 45 units per day during the 365 days in which the manufacturing plant operates annually. The unit cost of purchased parts is $25/unit, and the annual holding cost is estimated to be 28% of the unit cost. Assuming that it costs $42 to place an order, determine: a. EOQ for the part b. Annual holding cost, annual order cost and total relevant costs associated with this order quantity.