Net Steels is a steel manufacturing company. It currently orders 180 metric tons of raw material per order. It wasobserved that the company often faces stockout. To tackle this issue, the company incorporated a fixed-quantity system(FQS) and collected the following data.DemandOrder CostItem Cost12000 metric tons per year$16000 per order$35000 per year20 percent per yearInventory-Holding CostUsing the data to determine the EOQ. Only for non-integer results, round your answer UP to the nearest integer. Forexample, if your answer is 5.05, type 6; if your answer is 5, type 5.The formula is as follows.2DCOEconomic Order Quantity (EOQ), Q* =ChReorder point, r = demand rate x lead time = d LYour Answer:Answer

EOQ = √2DS/H D= Annual Demand S= Order Cost H = Holding Cost Demand = 12,000 × $35,000 =…

Using the data to determine the EOQ. Only for non-integer results, round your answer UP to the nearest integer. For example, if your answer is 5.05, type 6; if your answer is 5, type 5. The formula is as follows. 2DCO Economic Order Quantity (EOQ), Q* = Cn

Using the data to determine the EOQ. Only for non-integer results, round your answer UP to the nearest integer. For example, if your answer is 5.05, type 6; if your answer is 5, type 5. The formula is as follows. 2DCO Economic Order Quantity (EOQ), Q* = Cn

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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Question

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Net Steels is a steel manufacturing company. It currently orders 180 metric tons of raw material per order. It was
observed that the company often faces stockout. To tackle this issue, the company incorporated a fixed-quantity system
(FQS) and collected the following data.
Demand
Order Cost
Item Cost
12000 metric tons per year
$16000 per order
$35000 per year
20 percent per year
Inventory-Holding Cost
Using the data to determine the EOQ. Only for non-integer results, round your answer UP to the nearest integer. For
example, if your answer is 5.05, type 6; if your answer is 5, type 5.
The formula is as follows.
2DCO
Economic Order Quantity (EOQ), Q* =
Ch
Reorder point, r = demand rate x lead time = d L
Your Answer:
Answer

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