A company manufactures a standard electrical component and operates 12 months a year. The product…

A company manufactures a standard electrical component and operates 12 months a year. The product has steady demand, and raw materials are ordered in fixed batch quantities. All finished goods are shipped immediately after production. The company wants to reduce its inventory-related costs by using the Economic Order Quantity (EOQ) model. Raw materials are delivered 5 working days after placing an order. The company operates 24 working days per month. Below is the relevant data: Table: Operational Data
(A) Use the EOQ formula to calculate the Economic Order Quantity. (Show the formula and all steps.)
(B) Based on the EOQ, calculate:
Number of orders placed per year
Total ordering cost per year
(C) Find the following:
Average inventory level
Total annual holding cost
(D) Calculate the Reorder Point (ROP) assuming uniform daily demand.
(E) Draw a flowchart with these steps in order: Place Order Supplier Delivers Store Raw Materials Produce Goods Dispatch Finished Goods Use standard flowchart shapes and arrows to show the flow.