Joe Henry's machine shop uses 2,480 brackets during the course of a year. These brackets are purchased from a supplier 90 miles avway. The following information is known about the brackets: Annual demand 2,480 Holding cost per bracket per year Order cost per order Lead time Working days per year $1.45 $19.75 2 days 250 a) What is the EOQ? units (round your response to two decimal places). b)What is the average inventory if the EOQ is used? units (round your response to two decimal places). What would be the annual inventory holding cost? S (round your response to two decimal places). c)Given the EOQ, how many orders will be made annually? orders (round your response to two decimal places). What would be the annual order cost? S (round your response to two decimal places). d)Given the EOQ, what is the total annual cost of managing (ordering and holding) the inventory? SI (round your response to two decimal places). e)What is the time between orders? days (round your response to two decimal places). f) What is the reorder point (ROP)? units (round your response to two decimal places).

Joe Henry's machine shop uses 2,480 brackets during the course of a year. These brackets are purchased from a supplier 90 miles avway. The following information is known about the brackets: Annual demand 2,480 Holding cost per bracket per year Order cost per order Lead time Working days per year $1.45 $19.75 2 days 250 a) What is the EOQ? units (round your response to two decimal places). b)What is the average inventory if the EOQ is used? units (round your response to two decimal places). What would be the annual inventory holding cost? S (round your response to two decimal places). c)Given the EOQ, how many orders will be made annually? orders (round your response to two decimal places). What would be the annual order cost? S (round your response to two decimal places). d)Given the EOQ, what is the total annual cost of managing (ordering and holding) the inventory? SI (round your response to two decimal places). e)What is the time between orders? days (round your response to two decimal places). f) What is the reorder point (ROP)? units (round your response to two decimal places).

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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Question

Can you assist me with Chapter 12 Question 5. Please show the steps it's easier to follow along instead of an excel spreadsheet. Thank you

Joe Henry's machine shop uses 2,480 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the brackets:
Annual demand
2,480
Holding cost per bracket per year
Order cost per order
$1.45
$19.75
Lead time
2 days
Working days per year
250
a) What is the EOQ? units (round your response to two decimal places).
b)What is the average inventory if the EOQ is used? units (round your response to two decimal places).
What would be the annual inventory holding cost? $
(round your response to two decimal places).
c)Given the EOQ, how many orders will be made annually? orders (round your response to two decimal places).
What would be the annual order cost? S (round your response to two decimal places).
d)Given the EOQ, what is the total annual cost of managing (ordering and holding) the inventory? S (round your response to two decimal places).
e)What is the time between orders? days (round your response to two decimal places).
f) What is the reorder point (ROP)? units (round your response to two decimal places).

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