. In a hardware house the demand for a commonly used bolt is 500 units per month. The ordering cost is $30 per order placed. The carrying cost is 25% per year and each unit cost $.50. Lead time 7 days. The company operates 300 days per year. 

(a) What is the economic order quantity? 

(b) How often should this product be purchased? 

 (c) Find out the reorder point. (Calculate yourself Show all the calculations