Problem
Based on the data given above, answer the following questions.
i. What was the lot size for the old setup?
ii. What will be the setup cost for an economical lot size of 10?
iii. If the demand rate is 6,000 units, what was the inventory carrying cost per unit per year with the old setup?
iv. If the inventory carrying cost per unit per year is reduced to $12, what will be the total inventory carrying cost/year with the new setup cost of $25?
v. What will be the setup cost per year with the new setup?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.