As the production manager, you need to minimize both ordering and inventory costs. You need to provide a recommendation of the optimal order quantity of raw materials to your plant manager. Your objective is to determine the economic order quantity (EOQ). If the annual demand for Ultamyacin at Smitheford is 400,000 units, then the annual carrying cost rate is 15% of the cost of the unit. The product costs $48/unit to purchase, and the product ordering cost is $28.00.In your report, discuss information based on the following questions:What is the basic EOQ?What is the TC (total cost) at the EOQ?How much would the TC increase if the order quantity must be 1,000 units?How is JIT (just-in-time) ordering methodology different from EOQ methodology?Show all your calculations.Please provide references.

Time for a quick journey into your past. Think back to a time when your family (or a family you know) set a special goal for the year (or you can use a goal for this current year). In a 1-2 page paper, answer the following questions about the family goal. Using complete sentences, write one short paragraph per question.1. What is the special family goal for the year?2. Why do you think this has become the special family goal for the year?3. Why do you think family members are motivated to reach this goal.4. On a scale of 1 to 10. how intensely does each family member seem to desire this goal? If there are differences in motivation, how do you explain this?5. In your mind, what is one value behind this family goal? What type of value would you say this is and why?6. How do other family goals relate to this main family goal? Include an example.7. What resources are needed in order to reach this family goal?8. Approximately how long will it take for the family to obtain this goal?9. What suggestions can you, as an education professional, provide the family about reaching the family goal?