You purchase lubricating oil in 55-gallon drums and consume an average of 642 drums per year. Preparing an order and receiving a shipment of lubricant costs $7 per order. Annual carrying costs are $73 per drum. Determine the EOQ.
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- Electric spark Co., uses 60,000 of component Zima. The cost of placing an order is estimated at $17.28 per order. The annual holding cost is 20% of the purchase price of $20 per unit. The following information is provided to you by the management accountant to use in your analysis: The Normal usage 200 units per day Maximum usage 280 units per day Minimum usage 120 units per day Reorder period 20 to 30 days Required: 1. Determine the EOQ using the equation method 2. Calculate the total cost of inventory per year, in case the company decided to use the EOQ. 3. Electric spark has been offered a 2 per cent discount on the cost if it places orders in quantities of 20,000. Discuss whether the company should accept the discount and place larger orders .A hardware store sells paint that has a demand of 9,706 gallons per year. The store purchases the paint from a supplier for 11.2 dollars per gallon The unit holding cost per year is 24 percent of the unit purchase cost. while the ordering cost is 175 dollars per order. The paint supplier has a lead time of 10 days. What is the annual ordering cost if the store uses the order quantity of 2,103 gallons per order? Assume EOQ model is appropriate. Use at least 4 decimal places.Given the following data solve for the eoq time
- ACME Company purchases for resale 1,000 widgets for $64 each. At year- end, the replacement cost is $63 per widget, the estimated selling price is $68 per widget, the disposal cost is $7 per widget, and the estimated markup is $10 per widget.[General Account] If ACME uses LCM costing by item, at what amount will the widgets be reported on the balance sheet? a. $63,000 b. $51,000 c. $64,000 d. $62,500 e. $61,000Orchard Supply sells lawn fertilizer at a price of $12.50 per bag. If the markup is 25% of cost, find the cost.Rugged Outfitters purchases one model of mountain bike at a wholesale cost of $520 per unit and resells it to end consumers. The annual demand for the company’s product is 49,000 units. Ordering costs are $500 per order and carrying costs are $100 per bike per year, including $40 in the opportunity cost of holding inventory. Q. Compute the optimal order quantity using the EOQ model.
- Novak Corp. began the year with 8 units of marine floats at a cost of $11 each. During the year, it made the following purchases: May 5, 34 unit at $16; July 16, 17 units at $21; and December 7, 22 units at $25. Assume there are 29 units on hand at the end of the period. Novak uses the periodic approach. Determine the average unit cost:PLEASE MAKE IT IN EXCEL AND SHOW THE FORMULAS Comercial El Suspiro, S.A., purchases 2'100,000 units per year of a component. The cost of each order is $25.00. The annual unit maintenance cost is 27% of its cost of $2.00. On a 360-day basis, calculate the reorder point, knowing that it takes 10.5 days for the supplier to put in the LAB company the goods, and the company sorts and stores them in 1.5 days, calculate the reorder point.We plan to make 20,600 cases of applesauce this month. Move the appropriate raw materials into production. Our standard cost of raw materials is $8.55 per case. Answer the value and places youd record this on cash flow, balance sheet and or income statement.
- Keith Street Barber Shop pays $50 per month for water for the first 15,000 gallons and $3.50 per thousand gallons above 15,000 gallons. Calculate the total water cost when the barber shop uses 13,000 gallons, 16,000 gallons, and 21,000 gallons. (Do not round interim calculations. Round your final answers to the nearest cen ) Usage Total Water Cost 13,000 gallons 16,000 gallons 21,000 gallonsAn auto parts supplier sells batteries to car dealers and auto mechanics. The annual demand is approximately 1,200 batteries. The suppliers pays $28 for each battery and estimates that the annual holding cost is $8.40 per year. It costs approximately $20 to place an order. Assume a 250-day working year. a. Compute for the EOQ round off your answer to the nearest whole number. b. Compute for the expected number of orders. Round off your answer to the nearest whole number. c. Compute for the expected time between orders. Round off your answer to the nearest whole number.On average, PT. ABH would order from PT. GDAM 1.000.000 kg Crude Palm Oil (CPO) every month to be used as the raw materials for its production. This amount of CPO is refined and processed to produce cooking oils. The inventory is depleted each month and needs to be reordered. If the carrying cost is IDR 32.000 and the fixed order cost is IDR 4.000.000 (Assume a 360-day year)a. Does PT. ABH already follows an economically advisable strategy?b. If it is further noted that PT.ABH procurement team takes 10 days to place and receive an order and the firm’s production policy requires it to hold 50.000 kg as safety stock to prevent against stockouts. Determine the reorder point that must be set