Question: Problem 4. For below three products, you were asked to determine the economic production quantities. They use the same equipment. For each product, unit cost

Problem 4. For below three products, you were

Problem 4. For below three products, you were asked to determine the economic production quantities. They use the same equipment. For each product, unit cost is based on $5 per material, $5 per production and $5 per overhead costs. Assume that company operates 216 days per year. The following table has the needed information: Product Annual Demand ($) Set up cost ($) Annual Production (units) Holding cost ($ per unit per year) per order A B C $350,000 $175,000 $125,000 25,000 12,000 10,000 $10 $5 $3 $35 $15 $20 a. . Find the economic order quantity for each product (assume non-instantaneous receipt for the lots)

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