Keith Shoe Stores carries a basic black dress shoe for men that sells at an annual demand of 2000 pairs, Keith's current buying policy is to order 500 pairs each time an order is placed. An order costs Keith $30 to place. The annual carrying cost for each pair over a one year period is 20% of the price of a pair that Keith pays. At the order quantity of 500 pairs, Keith pays the lowest possible unit price of $28 per paid that the supplier could offer. Other quantity discounts offered by the supplier are given in the following table. Order Quantity Unit Price Up to 199 $32 200 up to 299 $30 300 and more $28 If Keith is willing to pay a unit price of $30, determine the total, including the purchase, carrying and ordering, cost. A. 60900.00 B. 61100.00 C. 60848.53 D. 60898.51 E. None of the above
Critical Path Method
The critical path is the longest succession of tasks that has to be successfully completed to conclude a project entirely. The tasks involved in the sequence are called critical activities, as any task getting delayed will result in the whole project getting delayed. To determine the time duration of a project, the critical path has to be identified. The critical path method or CPM is used by project managers to evaluate the least amount of time required to finish each task with the least amount of delay.
Cost Analysis
The entire idea of cost of production or definition of production cost is applied corresponding or we can say that it is related to investment or money cost. Money cost or investment refers to any money expenditure which the firm or supplier or producer undertakes in purchasing or hiring factor of production or factor services.
Inventory Management
Inventory management is the process or system of handling all the goods that an organization owns. In simpler terms, inventory management deals with how a company orders, stores, and uses its goods.
Project Management
Project Management is all about management and optimum utilization of the resources in the best possible manner to develop the software as per the requirement of the client. Here the Project refers to the development of software to meet the end objective of the client by providing the required product or service within a specified Period of time and ensuring high quality. This can be done by managing all the available resources. In short, it can be defined as an application of knowledge, skills, tools, and techniques to meet the objective of the Project. It is the duty of a Project Manager to achieve the objective of the Project as per the specifications given by the client.
Keith Shoe Stores carries a basic black dress shoe for men that sells at an annual demand of 2000 pairs, Keith's current buying policy is to order 500 pairs each time an order is placed. An order costs Keith $30 to place. The annual carrying cost for each pair over a one year period is 20% of the price of a pair that Keith pays. At the order quantity of 500 pairs, Keith pays the lowest possible unit price of $28 per paid that the supplier could offer. Other quantity discounts offered by the supplier are given in the following table.
| Order Quantity | Unit Price |
| Up to 199 | $32 |
| 200 up to 299 | $30 |
| 300 and more | $28 |
If Keith is willing to pay a unit price of $30, determine the total, including the purchase, carrying and ordering, cost.
A. 60900.00
B. 61100.00
C. 60848.53
D. 60898.51
E. None of the above
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