There is a new variant of COVID-19 called UNICRON-23. You volunteer at your town's community center....

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There is a new variant of COVID-19 called UNICRON-23. You volunteer at your town's community center. Tests will be self-collected at the community center to help promote efficiency and public health. When the locals arrive at the community center, they will receive a test kit and instructions. The annual demand for the UNICRON-23 specimen testing toolkit is 1,500 boxes. The carrying/holding cost per box per year is $120, and the processing fee for an order is $40. The purchase price per testing toolkit is $450. ● Assume that demand is known and constant. ● ● Please complete the following in Excel: 1. Determine the optimal order quantity for the Specimen Testing Toolkit. 2. Determine the total annual ordering and carrying/holding costs. 3. The community center's managers would prefer to set the carrying/holding cost as a percentage of purchase price, so 30% of the item's price was determined to be appropriate. What are the new optimal order quantity and total costs? 4. What is the relative difference between the economic order quantities (EOQs) found in #1 and #3? What is the relative difference in total annual costs found in #2 and #3? (This is a simple difference calculation in %.) There is a new variant of COVID-19 called UNICRON-23. You volunteer at your town's community center. Tests will be self-collected at the community center to help promote efficiency and public health. When the locals arrive at the community center, they will receive a test kit and instructions. The annual demand for the UNICRON-23 specimen testing toolkit is 1,500 boxes. The carrying/holding cost per box per year is $120, and the processing fee for an order is $40. The purchase price per testing toolkit is $450. ● Assume that demand is known and constant. ● ● Please complete the following in Excel: 1. Determine the optimal order quantity for the Specimen Testing Toolkit. 2. Determine the total annual ordering and carrying/holding costs. 3. The community center's managers would prefer to set the carrying/holding cost as a percentage of purchase price, so 30% of the item's price was determined to be appropriate. What are the new optimal order quantity and total costs? 4. What is the relative difference between the economic order quantities (EOQs) found in #1 and #3? What is the relative difference in total annual costs found in #2 and #3? (This is a simple difference calculation in %.)

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