Problem 1(10+2 points) Determine the utilization and efficiency for each of the following 2 situations: a. A loan processing operation that processes an average of 3 loans per day. The operation has a design capacity of 15 loans per day and an effective capacity of 10 loans per day. (Round your answer to 2 decimal places, 5 points) b. A furnace repair team that services an average of 2 furnaces a day if the design capacity is 6 furnaces a day and the effective capacity is 5 furnaces a day. (Round your answer to 2 decimal places, 5 points) c. Would you say that systems that have higher efficiency ratios than other systems will always have higher utilization ratios than those other systems? (Bonus:2 points) Problem 2(20+3 points ) A producer of pottery is considering the addition of a new plant to absorb the backlog of demand that now exists. The primary location being considered will have fixed costs of $4,000 per month and variable cost of 12 cents per unit produced. Each item is sold to retailers at a price that averages 45 cents. (Round all answers to a whole number.) a. What volume per month is required in order to break even? ( 5 points) Spring 2023 Homework\#2 b. What profit would be realized on a monthly volume of 55,000 units? 88,000 units? ( 5 points) c. What volume is needed to obtain a profit of $12,000 per month? ( 5 points) d. What retail price needs to be if the profit is $12,000 with a monthly volume of 40,000 ? (5 points)