nagement 2O Points: 0 of 2Radovilsky Manufacturing Company, in Hayward, California, makes flashing lights for toys. The company operates its production facility 300 days per year. It has orders for about 12,300 flashinglights per year and has the capability of producing 95 per day. Setting up the light production costs $51. The cost of each light is $1.00. The holding cost is $0.05 per light per year.a) What is the optimal size of the production run? 11,200 units (round your response to the nearest whole number).F1-Calculator Ask my instructor2WS-897XHcommand#m3ED80F3C$4R999F4F%R LO5V24FSTGPart 1 of 4^6BMacBook ProFoYH&7N44F7U*J8DIIFODM(9–KDDF9Ov.<HI).OLcommand4F10P^.z-:...Clear allchSF11option{[?+1=11IdF12[Final check}]Cdelete11returnshift

Optimal production quantity is calculated with following formula: Optimal production quantity =…

Answered: Radovilsky Manufacturing Company, in…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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

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Chicago's Hard Rock Hotel distributes a mean of 1,000 bath towels per day to guests at the pool and in their rooms. This demand is normally distributed with a standard deviation of 95 towels per day, based on occupancy. The laundry firm that has the linen contract requires a 4-day lead time. The hotel expects a 98% service level to satisfy high guest expectations. Refer to the standard normal table for z-values. a) What is the reorder point? towels (round your response to the nearest whole number). towels (round your response to the nearest whole number). b) What is the safety stock? Z-Table Z 0.38 0.50 0.67 0.84 1.04 1.28 1.41 1.56 1.65 1.75 2.06 2.33 Pr(Z) 65 69 75 80 85 90 92 94 95 96 98 99
Alpha retail store predicts an annual demand of 4920 kgs of a food product. It costs RO 100 to make and receive an order, and it takes 12 workdays to receive it. The annual holding cost is 20 % of purchase price. The price RO 2 per kg. The company is operating 6 workdays per week in a 52-week year. What is the expected time (in days) between orders? Round-up to the nearest integer O a. 100 Ob. 111 None is correct O d. 115 O e. 185 S PAGE NEXT PAGE MAG241C 1500R 144 SURVED EO GAMING MONITOR
Abey Kuruvilla, of Parkside Plumbing, uses 1,350 of a certain spare part that costs $24 for each order, with an annual holding cost of $25. Part 2 a) Calculate the total cost for order sizes of 25, 40, 50, 60, and 100 (round your responses to two decimal places). Order Size Total Cost ($) 25 enter your response here 40 enter your response here 50 enter your response here 60 enter your response here 100 enter your response here b) What is the economic order quantity?units (round your response to two decimal places).
The annual demand for pollock (a type of fish) at Ant Kitchens is 1000 pounds. The per pound cost of Pollock for Ant Kitchens $4.00. Fish are delivered frozen from the supplier three weeks after the order is placed. Each time an order of Pollack is received, Ant incurs $200 in handling costs to store the Pollack for use. Ant Kitchens cost of capital is 20%. Assume 50 weeks in a year. a) If Ant currently orders pollock 4 times per year, what are the inventory ordering and holding costs associated with this policy? b) What is the optimal continuous review ordering policy for pollock at Ant? What is the cost of this policy? How does this answer compare to part a? c) If Ant Kitchens follows the inventory policies above, how long does the company hold the average pound of pollock in inventory in each case? What is the inventory turnover? Interpret these quantities in a sentence.
The Simple Simon Bakery produces fruit pies for freezing and subsequent sale. The bakery,which operates 5 days per week, 52 weeks per year, can produce pies at the rate of 64 pies perday. The bakery sets up the pie production operation and produces until a predetermined number(Q) of pies has been produced. When not producing pies, the bakery uses its personnel and facilitiesfor producing other bakery items. The setup cost for a production run of fruit pies is $500.The cost of holding frozen pies in storage is $5 per pie per year. The annual demand for frozenfruit pies, which is constant over time, is 5,000 pies. Determine The optimal number of production runs per year
Sharpe Cutter is a small company that produces specialty knives for paper cutting machinery. The annual demand for a particular type of knife is 100,000 units. The demand is uniform over the 250 working days in a year. Sharpe Cutter produces this type of knife in lots and, on average, can produce 450 knives a day. The cost to set up a production lot is $300,and the annual holding cost is $1.20 per knife.a. Determine the economic production lot size (ELS).b. Determine the total annual setup and inventory holding cost for this item.c. Determine the TBO, or cycle length, for the ELS.d. Determine the production time per lot.
The two-bin approach is used to control inventory for a particular low-cost component. Each bin holds 1000 units. The annual usage of the component is 40,000 units. Cost to order the component is around $50. (a) What is the imputed holding cost per unit for this data? (b) If the actual annual holding cost per unit is only 5 cents, what lot size should be ordered? (c) How much more is the current two-bin approach costing the company annually, compared to the economic order quantity?
A plastic canister manufacturing company maintains an annual safety stock of 500 units of plastic caps. If the company places an annual purchase order for 1,800 units of these caps, its average annual inventory, in units, is between: ( )1,500 and 1,300 ( )3,200 and 3,000 ( )2,400 and 2,200 ( )1,200 and 1,000 ( )1,900 and 1,700
13.20. Southwood Furniture Company is a U.S.-based furniture manufacturer that offshored all of its actual manufacturing opera- tions to China about a decade ago. It set up a distribution center in Hong Kong from which the company ships its items to the United States on container ships. The company learned early on that it could not rely on local Chinese freight forwarders to arrange for sufficient containers for the company's shipments, so it contracted to purchase containers from a Taiwanese manufacturer and then sell them to shipping companies at the U.S. ports the containers are shipped to. Southwood needs 715 containers each year. It costs $1200 to hold a container at its distribution center, and it costs $6000 to receive an order for the containers. Determine the optimal order size, min- imum total annual inventory cost, number of annual orders, and time between orders.
In the basic EOQ model, if annual demand doubles, the EOQ will O a. increase by about 41.42 percent O b. decrease by 48.42% O c. double O d. None of these O e. be about 70.7 percent of its previous amount
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