What is the underage and overage cost what is the optimal, Operation Management

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What is the underage and overage cost what is the optimal

Slade Sports sells a type of ski jacket which sells only during a 6-month winter selling season has a

demand forecast of 500 with a standard deviation σ = 100.

The cost to procure the jacket from the supplier in China is $60.00.

Slade Sports sells the jacket for $100.00

The salvage value is $30.00

Slade Sports has only one ordering opportunity before the winter selling season.

a) What is the underage and overage cost?

b) What is the optimal (profit-maximizing order quantity)?

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