18 Given the following information, formulate an inventory management system. The tem is demanded 2 points Tem cont Order coat Annual holding cost (1) Annual demand Average demand $10.00 20 400 / Ed 25 of flecoat 24.750 unit 500 week Standard deviation of way and | service probability a. Determine the order quantity and reorder point (Use Excel's NORMSINV) function to find your value and then round that value to 2 decimal places. Do not round any other intermediate calculations. Round your final answers to the nearest whole number) Answer is complete but not entirely correct. Optimal order quantity Reorder point 1,673 units 1.058 units b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places.) Answer is complete but not entirely correct. Holding cost 3.146.00 Mc Graw HT b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your finalwers decimal places.) Answer is complete but not entirely correct. Holding cost Ordering cost 3.146.00 3,933,58 $ C. Assume a price break of $50 per order was offered for purchase quantities of 2.400 units per order. If you took advantage of this price break, how much would you save annually? (Do not round any intermediate calculations (including number of setups per year). Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. Annual savings s 515.63 18 Given the following information, formulate an inventory management system. The tem is demanded 2 points Tem cont Order coat Annual holding cost (1) Annual demand Average demand $10.00 20 400 / Ed 25 of flecoat 24.750 unit 500 week Standard deviation of way and | service probability a. Determine the order quantity and reorder point (Use Excel's NORMSINV) function to find your value and then round that value to 2 decimal places. Do not round any other intermediate calculations. Round your final answers to the nearest whole number) Answer is complete but not entirely correct. Optimal order quantity Reorder point 1,673 units 1.058 units b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places.) Answer is complete but not entirely correct. Holding cost 3.146.00 Mc Graw HT b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your finalwers decimal places.) Answer is complete but not entirely correct. Holding cost Ordering cost 3.146.00 3,933,58 $ C. Assume a price break of $50 per order was offered for purchase quantities of 2.400 units per order. If you took advantage of this price break, how much would you save annually? (Do not round any intermediate calculations (including number of setups per year). Round your final answer to 2 decimal places.) Answer is complete but not entirely correct. Annual savings s 515.63