Machine costs (per individual machine) are as follows:Machine CostA $70,000B 60,000C 50,000Product forecasts and processing times on the machines are as follows:PROCCESSING TIME PER UNIT (minutes)Product Annual Demand A B C1 28,000 1 2 22 21,000 6 5 43 21,000 1 6 24 7,000 5 1 3Required:a) Assume that only purchasing costs are being considered. Compute the total processing time required for each machine type to meet demand, how many of each machine type would be needed and the resulting total purchasing cost for each machine type. The machines will operate 8 hours a day, 250 days a year.(Enter total processing times as whole numbers. Round up machine quantities to the next higher whole number. Compute total purchasing costs using these rounded machine quantities. Enter the resulting total purchasing cost as a whole number)Total processing time in minutes per machine:A B C Number of each machine needed and total purchasing cost:A $B $C $b) Consider the additional information. The machines differ in terms of hourly operating costs. A machines have an hourly operating cost of $13 each, B machines $14 each and C machines $15 each. What would be the total cost associated with each machine option including both the initial purchasing cost and the annual operating cost incurred to satisfy demand?