so.2 A store estimates their holding costs at 34% and incurs a fixed cost of $62.00 for eachorder. Demand for an item is 1,975 units per year. A supplier offers a price of $14.00 eachfor quantities of 375 or fewer and a price of $13.16 for quantities over 375 units.Answer is complete but not entirely correct.Round your answer to the nearest integer value.How many units should the retailer order at one time?What is the total annual cost at this order point?227 x unitsX$28,730

Annual demandD19751975Setup costCo6262Holding costCh4.764.4744Unit costU1413.16 EOQ 375376

Answered: How many units should the retailer…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Q1. Hotel manager Mr. Smith and his resourceful assistant, John, run a 26-room hotel in a little town. A combination of Mr. Smith's friendly attitude and the absence of a respectable hotel in the nearby vicinity imply that Mr. Smith enjoys sufficient demand at his low fare of $159 per night. John notes that some customers will walk into the hotel requesting a room for that evening and they are willing to pay a high fare of $325 per night. John knows this demand is variable. (In reality, this demand is U(4,9)) He suggests some rooms should be kept unsold to the low-fare customers so that they can serve the high-fare customers. a) To maximize profits with John's plan, what is the booking limit that should be set for low fare customers? b) Mr Smith does not like the idea of John and says “we will sell to everyone who reserves in advance and ignore the walk-in demand." If Mr Smith has his way, what will be the hotel's expected revenue? C) John replies, "If you are going to forgo the…
QUESTION 3a. Delightful Coffee Limited (DCLL) purchases coffee from Hopeful Harvest Plantations (HHP)in Santa Cruz, Trinidad. HHP sells coffee at four (4) different prices, depending on the size ofthe order, as shown in Table 3 (below):Table 3. Hopeful Harvest Plantations - Coffee pricesWeight of Coffee Price ($USD)Less than 45 kilograms $18 per kilogram45 to 449 kilograms $17 per kilogram,450 to 1000 kilograms $16 per kilogramMore than 1000 kilograms $15 per kilogramThe cost to place an order at DCLL is $50. Annual demand is 4,500 units. The holding (orcarrying) cost is 20 percent of the material price. (iii) What is the economic order quantity that DCLL should buy each time? Please answer the above question
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Additional Question. The XYZ steel company must determine a policy for ordering coal to operate 15 converters. The ordering cost is $85/order and the cost of holding coal is 15% of the purchasing cost. The XYZ has a contract to obtain the coal for $14 per ton for the coming year. Each converter requires exactly 8 tons of coal per day to operate, and the firm operates 300 days per year. a. Determine the optimal quantity of coal to receive in each order. b. Determine the total inventory-related cost associated with the optimal ordering policy c. Optimal number of orders to place per year and number of operating days between orders, based on the optimal ordering. d. The XYZ is now considering to the following discount policy provided by supplier: Order Quantity (tons) 1,000 - 1,999 Price per ton $14 $12 $10 2,000 - 2,999 3000+ Please help the XYZ to determine the amount the firm should order.
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How many units should the retailer order at one time? What is the total annual cost at this order point? 227 x units $ 28,730