The annual demand forecast for a particular product sold by a retail store is 10,000 units, the cost is RM5 per unit. The cost of ordering and receiving the delivery is RM50 on each occasion. Stock holding costs are 20% per annum of stock value. Assume shortage is not allowed. (i) Calculate the optimal order size. (ii) Estimate the total relevant inventory cost per annum. (iii) Compute the ordering and holding costs at EOQ.

The annual demand forecast for a particular product sold by a retail store is 10,000 units, the cost is RM5 per unit. The cost of ordering and receiving the delivery is RM50 on each occasion. Stock holding costs are 20% per annum of stock value. Assume shortage is not allowed. (i) Calculate the optimal order size. (ii) Estimate the total relevant inventory cost per annum. (iii) Compute the ordering and holding costs at EOQ.

MATLAB: An Introduction with Applications

6th Edition

ISBN:9781119256830

Author:Amos Gilat

Publisher:Amos Gilat

Chapter1: Starting With Matlab

Section: Chapter Questions

Problem 1P

See similar textbooks

Related questions

Q: 13. According to the graph below, what is the dependent quantity? (TEKS 6.6A, SS, RC2) Red River…

A: to find:- dependent quantity.

Q: If the demand fuction for a good is p=110-x^2 and the supply function for it is…

Q: b) Sunway College's newspaper, The Blaze has fixed production costs of RM 70 and marginal printing…

Q: The success of a project depends on the effort level of a worker. In case of success the revenues…

A: Given The success of a project depends on th effort level of a worker. If success revenue will be…

Q: Assume that the fire caused construction to slow down and caused a reduction in efficiency in…

Q: b) Find the total cost if the marginal cost is MC 3e0.50 and fixed costs are 10.

Q: You want to sell a certain number n of items in order to maximize your profit. Market research tells…

Q: True or false: If demand for a product is inelastic then if price decreases, revenue decreases

Q: If sales price and the unit variable cost remain constant and fixed costs decrease, contribution…

Q: 47. Determine the slope of the line passing through the given pair of points (0, 4), (0, -2) O -6 O…

Q: Find the consumer surplus for the given demand function and sales level. р = 1350 - 0.49, 750 tA

Q: Suppose a company has fixed costs of $37,400 and variable cost per unit of x + 444 dollars, where x…

A: Here we are given fixed cost of the company(F.C)=$37400 and Variable cost per unit =$(4x9+444) where…

Q: You will need to estimate the annual sales of dempster's whole wheat bread. Determine the capacity…

Q: a) Agnes, a General Manager in XXX Company, estimated a multiplicative demand function of the form:…

A: Estimated demand equation is given by, Qd= aPapIaiP0a0 Then Qd= 0.022*P(-223)I1.354P00.133

Q: How to calculate Samsung’s cost (C(Q)) of producing 1,2,...15

A: Q is given as follows. Q: 0,1,2,3,4,5,6,7,8,9,10,11,12,13,14,15 The develop Samsung S35 it cost…

Q: ed in units of Rs. 1000. cost during the period of

A: The relation between value of timber and time is given as, V=2t. The rate is given as r=5%. The…

Q: Assume that a subsidy programme is launched to assist women. Based on this programme, unemployed…

A: Here Given Subsidy Programme is launched to assist Women. Here INCOME guarantee of RM200 and RM 0.5…

Q: The supply function of a form is given as p=x^2+4x+5. Find the Producer’s Surplus given that the…

Q: Replace the March demand forecast 510 by C. During a 46-day period when there were 120 workers, the…

A: In implementing the zero-inventory plan with the chase strategy for Mr. Meadows Cookie Company, the…

Q: A researcher wants to estimate the reserve demand equation i.e. growth rate of Forex reserves…

A: Given that - A researcher wants to estimate the reserve demand equation i.e. growth rate of Forex…

Q: Nanyang Eatery is located in a residential district and it is contemplating extending its…

A: Given: The table shows Nanyang Eatery’s marginal cost of staying open later than 9pm and also the…

Q: A contractor was awarded a contract to build a 600 meter long tunnel. During the 5-year contract,…

A: A contractor awarded a contract of 600 meter long tunnel. Time period is 5 years Total Pump operate…

Q: Mr. Tan built an ARIMA model to fit the price of fund XYZ. The parameter estimates he obtained are…

A: Given:

Q: The actual demand and forecast demand for the PV company over a two-quarter period is showing in the…

A: H

Q: Charles Lackey operates a bakery in Idaho Falls, Idaho. Because of its excellent product and…

A: Loaves produced (Output) loaves per monthLabor Cost (Work hours x Employee cost) Utility Cost per…

Q: Harimau Paper Sdn. Bhd. converts pulpwood to low, medium and high grade newsprint. The pulpwood…

Q: 1 U.S. dollar = 0.82 GBP,

A: Dimensional analysis is basically a science in which a relationship is defined between two physical…

Q: The money supply needed to generate $1500 of nominal GDP with money velocity of 20 is

Concept explainers

Differential Equations

Have you ever observed the movement of the satellites and rockets or how the planets go around the sun in their orbits? How will you determine their motion? Definitely they follow some scientific laws and these kinds of problems are framed as differential equations.

Question

The annual demand forecast for a particular product sold by a retail store is 10,000 units, the
cost is RM5 per unit. The cost of ordering and receiving the delivery is RM50 on each
occasion. Stock holding costs are 20% per annum of stock value. Assume shortage is not
allowed.
(i)
Calculate the optimal order size.
(ii)
Estimate the total relevant inventory cost per annum.
(iii)
Compute the ordering and holding costs at EOQ.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step 3

VIEW

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

$Differential Equation$

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, statistics and related others by exploring similar questions and additional content below.

Similar questions

If the demand equation of a good is P=/1000 – 4Q, find the value of Q which maximizes total revenue. Уравнение спроса равняется P=/1000 – 4Q, найдите значение Q, при котором общий доход равен максимальному значению.
The marks obtained by a student of Class XI in first and second terminalexamination are 62 and48,respectively. Find the minimum marks he should get in the annual examination to have an average of at least 60 marks.
8. Describe demand curve and supply curve, CS Scanned with CamScanner
A3) a=6 B=5
Suppose that the monthly cost, in dollars, of producing x chairs is C(x)=0.005x3+0.07x2+18x+700, and currently 50 chairs are produced monthly. a) What is the current monthly cost? b) What is the marginal cost when x=50? c) Use the result from part (b) to estimate the monthly cost of increasing production to 52 chairs per month. d) What would be the actual additional monthly cost of increasing production to 52 chairs monthly?
8
Send me solution fast within 10 minutes and i will rate instantly for sure Solution must be in typed form!!
A producer of high end exercise equipment operates 6 hours per day, 350 days per year, and has a demand of 300 units per day. Assume a kanban container size of 8 units. Workstation times are as follows: - average wait time is 2 minutes - average handling time is 4 minutes - average processing time is 5 minutes. In addition, management has established a safety stock policy of 150 seconds. How many kanbans should be placed in front of this workstation? Please round up to a whole number, no decimals.
19
Let’s assume that in Kansas, a family farmer sells wheat in a perfectly competitive market. After increasing the production of wheat from 220 bushels to 240 bushels, the total revenue of the farmer increases from $6,600 to $6,700. What was the marginal revenue of this increase in production in dollar?
The demand function for a good is given by the equation P = a − bQ while the totalcost function is TC = dQ^2 + eQ + f, where a, b, d, e and f are positive constants.(a) Derive the equation for profit.(b) Derive an expression for the value of Q for which profit is maximized.
Number 12