Given the following information, formulate an inventory management system. The item is demanded 50 weeks a year. Item cost $ 12.00 $213.00 20 Standard deviation of weekly demand Lead time: Order cost 20 units 2 week /order Annual holding cost (8) Annual demand of item cost Service probability 95% 26,100 units /week Average demand 522 a. Determine the order quantity and reorder point. (Use Excel's NORMSINV() function to find your z-value and then round that z- value to 2 decimal places. Do not round any other intermediate calculations. Round your final answers to the nearest whole number.) Optimal order quantity 2,152 units Reorder point 1,090 units b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places.) Holding cost $ 2,582.86 Ordering cost 2582 b. Determine the annual holding and order costs. (Do not round any intermediate calculations. Round your final answers to 2 decimal places.) Holding cost 2,582.86 $ 2582 Ordering cost c. Assume a price break of $55 per order was offered for purchase quantities of 2,300 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.) Annual savings