Question $1$

Use for the following $5$ problems:

holding cost for IAI is $13\mathrm{.}5\%$ of purchasing price. IAI operates $350$ days per year.

What would be the economic order quantity $($round to nearest whole$)$ for these fasteners?

Question $2$

What is the reorder point rounded to the nearest whole unit?

Question $3$

How many times per year would IAI have to place an order? $($Round to two decimal places.$)$

Question $4$

What would be the total annual inventory cost for this part? $($round to nearest dollar$)$

Question $5$

If IAI divides its annual demand into monthly orders instead of ordering the EOQ, how much is it overpaying in total inventory cost? $($nearest dollar$)$