Appendix: EOQDiane Delbert operates a health food bakery that uses a special type of ground flour in one of its high-margin products. The bakery operates 365 days ayear. Delbert finds that she seems to order either too much or too little special flour and asks for your help. After some discussion, you find that she has noidea of when or how much to order. An examination of her records and answers to further questions reveal the following information:Annual usage of special flour (pounds)6,510Average number of days delay between initiating and receiving an order12Estimated cost per order$32.00Estimated annual cost of carrying a pound of special flour in inventory$0.50a. Calculate the economic order quantity for flour.Note: Round your answer to the nearest whole pound.913V poundsb. Assume that Delbert desires a safety stock cushion of seven days' usage. Calculate the appropriate order point.Note: Do not round until your final answer.Note: Round your final answer to the nearest whole pound.339x poundsCheck

EOQ - 2 x annual demand x order cost/ carrying cost Appropriate order point = Average daily usage x…

Answered: Appendix: EOQ Diane Delbert operates a…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Zukiria Chicken Co. (JCC) is a chicken farm in Abbotsford, B.C. JCC reports under IFRS and has a December 31 fiscal year end. JCC also grows corn in the acres surrounding its chicken barns and sells the corn each August once the crop is harvested.JCC has four chicken barns, each with 12,000 laying hens. Each hen lays five eggs per week, which are sold to grocery stores. Eggs sell for $0.05 each, and JCC incurs $1,150 per week in egg packing and cleaning costs. Hens are kept for two years before needing to be replaced and are purchased in January 1 every second year for $0.75 each. After the two years, the laying hens are sold at a price of $0.45 each. If JCC disposed of the laying hens after one year, they would be sold at a price of $0.55 each.The hens currently owned by JCC have been around for one year. JCC’s corn seed is planted each April 1 at a cost of $0.20 per cornstalk. JCC planted 45 cornstalks per acre on each of its 36 acres. It costs JCC $1,000 in labour to plant the…
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