operates 52 weeks per year. The cost of processing an order was $64, and the cost of holding one box throughout a full year was 20% of the value of the material. Last year the hospital ordered bandages, on average, once every two weeks, each time ordering 800 boxes. What extra cost did the hospital incur that could have been avoided if the EOQ concept had been applied?

Group of answer choices

more than $1,450

less than or equal to $650

more than $1,050 and less than $1,450

more than $650 and less than $1,050