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SOLVED: You are expected to plan the lot sizes for two products (P1 and P2) for the following 12 weeks. The net weekly requirements as well as the relevant cost figures are given below:Inventory holding cost | Setup Cost | Capacity Requirement | Backlog cost750250 | 1,3RequirementsWeek | E | 188 | H | 210 | 185 | 221 | 196 | 36 | 208 | 188 | 172 | 33 | 11 | 200Plan the production orders (timing and lot sizes) for both products using the economic order quantity (EOQ) approach, with no backlogs. P
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