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The Lone Wild Boar Corporation manufactures a crucial component internally using the most advanced technology. The operations manager wants to determine the economic manufacturing quantity to ensure that the total annual inventory cost is minimized. The daily production rate (P) for the component is 220 units, annual demand (R) is 29,520 units, setup cost (S) is $160 per setup, and the annual holding rate (k) is 25 percent. The manager estimates that the total cost (C) of a finished component is $180. It is assumed that the plant operates year round and there are 360 days per year Open the spreadsheet and perform the required analyses to answer the questions below. Do not round intermediate calculations. Round your answers to the nearest whole number. Round your answers for dollar values to the nearest dollar. X THI Open spreadsheet Questions 1. What is the daily demand rate? units 2. What is the EMQ? units 3. What is the highest inventory level? units 4. What is the annual product cost? 5. What is the annual holding cost? $ 6. What is the annual setup cost? $ 7. What is the total annual inventory cost? $ 8. What is the length of a production period? days 9. What is the length of each inventory cycle? days 10. What is the rate of inventory buildup during production? units per day 11. What is the number of inventory cycles per year? cycles D E Formulas B C 1 Economic Manufacturing Quanity Model (EMQ) 2. 3 Daily production rate (P) 220 units 4 Annual demand (R) 29,520 units 5 Setup cost (S) $160 per setup 6 Annual holding rate (k) 25% 7 Finished cost (C) $180 8 Days per year 360 9 10 Daily demand rate units 11 EMQ units 12 Highest inventory level, QM units 13 Annual production cost 14 Annual holding cost 15 Annual setup cost 16 TAIC 7 Production period, TP days 8 Inventory cycle, TC days 9 Inventory build up (units) per day 0 Inventory cycles per year 1 #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A #N/A