Question: Given the below data, USE EXCEL and show your work to calculate the optimal production batch size, the annual set up and holding costs for

  1. Given the below data, USE EXCEL and show your work to calculate the optimal production batch size, the annual set up and holding costs for the optimal policy.

Production rate, P

5,000

Annual Demand, D

3,000 units per year

Set up cost, S

$1,000

Holding cost, h

24 percent

Unit Cost, C

$250 per unit

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