a. PsiComp orders paper from a large supplier at a price of $10 per box. The average demand for paper is 300 boxes per month. PsiComp's order cost is $30 per order and its holding cost rate is $2 per box of paper per year. The lead time for delivery is 3 days. (Assume a 365 day year). i. Determine the economic order quantity, the reorder point, and the total annual cost for PsiComp. [6 Marks] ii. If PsiComp ordered once a month (instead of your answer to part a), what would be the total annual cost? [4 Marks] b. PsiComp provides custom machining for its customers. The Company presently uses a first-come firstserved sequencing rule for customer jobs. The Company wants to complete customers' jobs faster, so it is considering the use of two other rules: Shortest Processing Time and Critical Ratio. PsiComp thinks that the criteria of average flow time, average number of job in the system and average job lateness are important in evaluating the sequencing rules. Given the data below on six (6) jobs presently in the system, you are to study PsiComp's situation and recommend a sequencing rule; [10 Marks]