please answer part c. thank you M. P. VanOyen Manufacturing has gone out on bid for a regulator component. Expected demand is 700 units per month. Theitem can be purchased from either Allen Manufacturing or Baker Manufacturing. Their price lists are shown in the table. Orderingcost is $55, and annual holding cost per unit is $5.Baker Mfg.Allen Mfg.QuantityUnit PriceQuantityUnit Price1-499$16.001-399$16.10500-99915.50400-79915.601000+15.00800+15.10a) What is the economic order quantity if price is not a consideration? 430 units (round your response to the nearest wholenumber).b) Which supplier, based on all options with regard to discounts, should be used? Allen Mfg.c) What is the optimal order quantity and total annual cost of ordering, purchasing, and holding the component?The optimal order quantity iswith a total cost of $(round your responses to the nearest whole number).

Given are the prices corresponding to number of ordering units. Demand = 700 per month Annual demand…

c) What is the optimal order quantity and total annual cost of ordering, purchasing, and holding the component? The optimal order quantity is with a total cost of $ (round your responses to the nearest whole number).

c) What is the optimal order quantity and total annual cost of ordering, purchasing, and holding the component? The optimal order quantity is with a total cost of $ (round your responses to the nearest whole number).

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

please answer part c. thank you

M. P. VanOyen Manufacturing has gone out on bid for a regulator component. Expected demand is 700 units per month. The
item can be purchased from either Allen Manufacturing or Baker Manufacturing. Their price lists are shown in the table. Ordering
cost is $55, and annual holding cost per unit is $5.
Baker Mfg.
Allen Mfg.
Quantity
Unit Price
Quantity
Unit Price
1-499
$16.00
1-399
$16.10
500-999
15.50
400-799
15.60
1000+
15.00
800+
15.10
a) What is the economic order quantity if price is not a consideration? 430 units (round your response to the nearest whole
number).
b) Which supplier, based on all options with regard to discounts, should be used? Allen Mfg.
c) What is the optimal order quantity and total annual cost of ordering, purchasing, and holding the component?
The optimal order quantity is
with a total cost of $
(round your responses to the nearest whole number).

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