Use EOQ concept to solve this problem. Question 8. (20 points) Partial credit possible. A catering company

Use EOQ concept to solve this problem.

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Question 8. (20 points) Partial credit possible. A catering company uses 110 lbs. of chicken each month. When they order this chicken from a butcher, due to the special instructions, the ordering cost is $35 per order. For orders up to 270 lbs., the chicken costs $4.00 per lb. For orders over 270 lbs., the cost is $4.00 per Ib, for the first 270 lbs. and $3.80 per lb. for every lb. over 270. How much chicken should the restaurant order at a time to minimize costs if the interest rate is 32% per year? Show all your work. Take all intermediate computations to four decimal places, but report your answer as an integer (round up to the nearest integer if necessary). Place a box around your answer and include units in your answer. Question 8. (20 points) Partial credit possible. A catering company uses 110 lbs. of chicken each month. When they order this chicken from a butcher, due to the special instructions, the ordering cost is $35 per order. For orders up to 270 lbs., the chicken costs $4.00 per lb. For orders over 270 lbs., the cost is $4.00 per Ib, for the first 270 lbs. and $3.80 per lb. for every lb. over 270. How much chicken should the restaurant order at a time to minimize costs if the interest rate is 32% per year? Show all your work. Take all intermediate computations to four decimal places, but report your answer as an integer (round up to the nearest integer if necessary). Place a box around your answer and include units in your answer.