Develop a lot for lot solution and calculate total relevant costs for the gross requirements in the following table Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 20 40 30 60 20 20 70 60 Holding cost $3 50 unit week setup cost $200 lead time 1 week beginning inventory 40 Develop a lot for lot solution(enter your responses as whole numbers) Period 1 2 3 4 5 6 7 8 9 10 11 12 Gross requirements 20 40 30 60 20 20 70 60 On hand at beginning of period 40 On hand at end of period Order receipt Order release Next calculate total relevant costs Total cost Setup cost Holding cost First calculate the setup cost How many orders are needed (enter your response as a whole number) Thus, the setup cost is (enter your response as a whole number) Second determine the holding cost using the inventory at the end of the each week

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Question: Develop a lot-for-lot solution and calculate total relevant costs for the gross requirements in the following table*. Period 1 2 3 4 5 6 7

Develop a lot-for-lot solution and calculate total relevant costs for the gross requirements in the following table*.

Period	1	2	3	4	5	6	7	8	9	10	11	12
Gross requirements	20		40		30	60	20		20	70		60

*Holding cost=$3.50/unit/week; setup cost=$200; lead time=1 week; beginning inventory=40. Develop a lot-for-lot solution(enter your responses as whole

numbers).

Period

Gross requirements

On-hand at beginning of period

40.

On-hand at end of period

Order receipt?

Order release

Next calculate total relevant costs.

Total cost=Setup cost+Holding cost

First calculate the setup cost. How many orders are needed?

(enter your response as a whole number)

Thus, the setup cost is ?

(enter your response as a whole number).

Second determine the holding cost using the inventory at the end of the each week.

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