Joe Henry's machine shop uses 2,490 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: a) What is the EOQ? Annual demand Holding cost per bracket per year Order cost per order Lead time Working days per year units (round your response to two decimal places). 2,490 $1.50 $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? What would be the annual inventory holding cost? $ c)Given the EOQ, how many orders will be made annually? What would be the annual order cost? $ (round your response to two decimal places). d) Given the EOQ, what is the total annual cost of managing (ordering and holding) the inventory? $ (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). units (round your response to two decimal places). (round your response to two decimal places). orders (round your response to two decimal places).

Joe Henry's machine shop uses 2,490 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: a) What is the EOQ? Annual demand Holding cost per bracket per year Order cost per order Lead time Working days per year units (round your response to two decimal places). 2,490 $1.50 $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? What would be the annual inventory holding cost? $ c)Given the EOQ, how many orders will be made annually? What would be the annual order cost? $ (round your response to two decimal places). d) Given the EOQ, what is the total annual cost of managing (ordering and holding) the inventory? $ (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). units (round your response to two decimal places). (round your response to two decimal places). orders (round your response to two decimal places).

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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