Write your answer on the HW-8-answer writing sheet. Do not round intermediate calculations. If necessary, round the final answer to \(\mathbf{4}\) decimal places. Question 1 refers to the following: (3 pts)(Reference: the recorded Lecture -1)1. Based on Table 1, which item belongs to the "B" classification? Questions 2-4 refer to the following: (5 pts)(Reference: the recorded Lecture -2) A Grand Forks Walmart that sells a scented candle, which has an annual demand of 3600 candles. The ordering cost is \(\$ 4\) per order, and the holding cost is \(\$ 2\) per candle. Determine the following: 2. What is the economic order quantity? (2 pts)3. What is the average flow time (days)(Let 1 year \(=360\) days)\((1\mathrm{pts})\)4. What is the total cost? (2 pts) Questions 5-6 refer to the following: (5 points)(Reference: the recorded Lecture -3) Suppose you are the manager of a production department that uses 400 boxes of rivets per year. The supplier quotes a price of \(\$ 8.50\) per box for orders of 199 boxes or less, \(\$ 8.00\) per box for orders of 200 to 999 boxes, and \(\$ 7.50\) per box for orders of 1,000 boxes or more. You assign a holding cost of 20 percent of the price to this inventory. Assume the ordering cost is \(\$ 70/\) order. 5. What order quantity would you use if the objective is to minimize total annual costs of holding, purchasing, and ordering? (3 pts)6. What is the minimum total cost, including holding, ordering, and purchasing costs? (2 pts)