The economic order quantity for Fisk corp. Introduction: E conomic Order Q uantity (EOQ): The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

Question

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Answer 1

Question

Chapter 7, Problem 14P

a.

Summary Introduction

To calculate: The economic order quantity for Fisk corp.

Introduction:

Economic Order Quantity (EOQ):

The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

b.

Summary Introduction

To calculate: The number of orders placed during the year for Fisk corp.

Introduction:

Number of Orders Placed:

The number of orders placed is the number of units sold during the year by the firm. It is the demand by the target customers.

c.

Summary Introduction

To calculate:The average inventory for Fisk corp.

Introduction:

Average inventory:

Average inventory is the value of inventory held with the firm for more than a specific time period. It can be calculated as the value of inventory for both the time periods divided by the number of time periods.

d.

Summary Introduction

To calculate:The total cost of ordering and the carrying cost of inventory for Fisk corp.

Introduction:

Total cost:

Total cost is the cost of all the units produced by the company. It includes all the variable and fixed costs. It is the sum of the variable and fixed costs incurred by the firm.

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Students have asked these similar questions

Nowlin Pipe & Steel has projected sales of 6,400 pipes this year, an ordering cost of $5 per order, and carrying costs of $1.60 per pipe.a. What is the economic ordering quantity? b. How many orders will be placed during the year? c. What will the average inventory be?

Nowlin Pipe & Steel has projected sales of 19,600 pipes this year, an ordering cost of $5 per order, and carrying costs of $1.60 per pipe. a. What is the economic ordering quantity? Economic ordering quantity b. How many orders will be placed during the year? Number of orders orders c. What will the average inventory be? Average inventory units units

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Answer 2

Question

Chapter 7, Problem 14P

a.

Summary Introduction

To calculate: The economic order quantity for Fisk corp.

Introduction:

Economic Order Quantity (EOQ):

The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

b.

Summary Introduction

To calculate: The number of orders placed during the year for Fisk corp.

Introduction:

Number of Orders Placed:

The number of orders placed is the number of units sold during the year by the firm. It is the demand by the target customers.

c.

Summary Introduction

To calculate:The average inventory for Fisk corp.

Introduction:

Average inventory:

Average inventory is the value of inventory held with the firm for more than a specific time period. It can be calculated as the value of inventory for both the time periods divided by the number of time periods.

d.

Summary Introduction

To calculate:The total cost of ordering and the carrying cost of inventory for Fisk corp.

Introduction:

Total cost:

Total cost is the cost of all the units produced by the company. It includes all the variable and fixed costs. It is the sum of the variable and fixed costs incurred by the firm.

Expert Solution & Answer

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Answer 3

Question

Chapter 7, Problem 14P

a.

Summary Introduction

To calculate: The economic order quantity for Fisk corp.

Introduction:

Economic Order Quantity (EOQ):

The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

b.

Summary Introduction

To calculate: The number of orders placed during the year for Fisk corp.

Introduction:

Number of Orders Placed:

The number of orders placed is the number of units sold during the year by the firm. It is the demand by the target customers.

c.

Summary Introduction

To calculate:The average inventory for Fisk corp.

Introduction:

Average inventory:

Average inventory is the value of inventory held with the firm for more than a specific time period. It can be calculated as the value of inventory for both the time periods divided by the number of time periods.

d.

Summary Introduction

To calculate:The total cost of ordering and the carrying cost of inventory for Fisk corp.

Introduction:

Total cost:

Total cost is the cost of all the units produced by the company. It includes all the variable and fixed costs. It is the sum of the variable and fixed costs incurred by the firm.

Expert Solution & Answer

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Answer 4

Question

Chapter 7, Problem 14P

a.

Summary Introduction

To calculate: The economic order quantity for Fisk corp.

Introduction:

Economic Order Quantity (EOQ):

The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

b.

Summary Introduction

To calculate: The number of orders placed during the year for Fisk corp.

Introduction:

Number of Orders Placed:

The number of orders placed is the number of units sold during the year by the firm. It is the demand by the target customers.

c.

Summary Introduction

To calculate:The average inventory for Fisk corp.

Introduction:

Average inventory:

Average inventory is the value of inventory held with the firm for more than a specific time period. It can be calculated as the value of inventory for both the time periods divided by the number of time periods.

d.

Summary Introduction

To calculate:The total cost of ordering and the carrying cost of inventory for Fisk corp.

Introduction:

Total cost:

Total cost is the cost of all the units produced by the company. It includes all the variable and fixed costs. It is the sum of the variable and fixed costs incurred by the firm.

Expert Solution & Answer

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Answer 5

Chapter 7, Problem 14P

a.

Summary Introduction

To calculate: The economic order quantity for Fisk corp.

Introduction:

Economic Order Quantity (EOQ):

The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

b.

Summary Introduction

To calculate: The number of orders placed during the year for Fisk corp.

Introduction:

Number of Orders Placed:

The number of orders placed is the number of units sold during the year by the firm. It is the demand by the target customers.

c.

Summary Introduction

To calculate:The average inventory for Fisk corp.

Introduction:

Average inventory:

Average inventory is the value of inventory held with the firm for more than a specific time period. It can be calculated as the value of inventory for both the time periods divided by the number of time periods.

d.

Summary Introduction

To calculate:The total cost of ordering and the carrying cost of inventory for Fisk corp.

Introduction:

Total cost:

Total cost is the cost of all the units produced by the company. It includes all the variable and fixed costs. It is the sum of the variable and fixed costs incurred by the firm.

Answer 6

Chapter 7, Problem 14P

a.

Summary Introduction

To calculate: The economic order quantity for Fisk corp.

Introduction:

Economic Order Quantity (EOQ):

The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

Answer 7

Chapter 7, Problem 14P

a.

Summary Introduction

To calculate: The economic order quantity for Fisk corp.

Introduction:

Economic Order Quantity (EOQ):

The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

Answer 8

b.

Summary Introduction

To calculate: The number of orders placed during the year for Fisk corp.

Introduction:

Number of Orders Placed:

The number of orders placed is the number of units sold during the year by the firm. It is the demand by the target customers.

Answer 9

b.

Summary Introduction

To calculate: The number of orders placed during the year for Fisk corp.

Introduction:

Number of Orders Placed:

The number of orders placed is the number of units sold during the year by the firm. It is the demand by the target customers.

Answer 10

c.

Summary Introduction

To calculate:The average inventory for Fisk corp.

Introduction:

Average inventory:

Average inventory is the value of inventory held with the firm for more than a specific time period. It can be calculated as the value of inventory for both the time periods divided by the number of time periods.

Answer 11

c.

Summary Introduction

To calculate:The average inventory for Fisk corp.

Introduction:

Average inventory:

Average inventory is the value of inventory held with the firm for more than a specific time period. It can be calculated as the value of inventory for both the time periods divided by the number of time periods.

Answer 12

d.

Summary Introduction

To calculate:The total cost of ordering and the carrying cost of inventory for Fisk corp.

Introduction:

Total cost:

Total cost is the cost of all the units produced by the company. It includes all the variable and fixed costs. It is the sum of the variable and fixed costs incurred by the firm.

Answer 13

d.

Summary Introduction

To calculate:The total cost of ordering and the carrying cost of inventory for Fisk corp.

Introduction:

Total cost:

Total cost is the cost of all the units produced by the company. It includes all the variable and fixed costs. It is the sum of the variable and fixed costs incurred by the firm.

Answer 14

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Answer 15

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Answer 16

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Answer 17

Ch. 7 - Prob. 1DQ Ch. 7 - Prob. 2DQ Ch. 7 - Why would a financial manager want to slow down...Ch. 7 - Use The Wall Street Journal or some other...Ch. 7 - Why are Treasury bills a favorite place for...Ch. 7 - Explain why the bad debt percentage or any other...Ch. 7 - What are three quantitative measures that can be...Ch. 7 - Prob. 8DQ Ch. 7 - What does the EOQ formula tell us? What assumption...Ch. 7 - Why might a firm keep a safety stock? What effect...

The economic order quantity for Fisk corp. Introduction: E conomic Order Q uantity (EOQ): The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

Solution Summary: The author explains how to calculate the economic order quantity for Fisk corp. and the number of orders placed for the year.

To calculate: The economic order quantity for Fisk corp.

Introduction:

Economic Order Quantity (EOQ):

The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

To calculate: The number of orders placed during the year for Fisk corp.

Introduction:

Number of Orders Placed:

The number of orders placed is the number of units sold during the year by the firm. It is the demand by the target customers.

To calculate:The average inventory for Fisk corp.

Introduction:

Average inventory:

Average inventory is the value of inventory held with the firm for more than a specific time period. It can be calculated as the value of inventory for both the time periods divided by the number of time periods.

To calculate:The total cost of ordering and the carrying cost of inventory for Fisk corp.

Introduction:

Total cost:

Total cost is the cost of all the units produced by the company. It includes all the variable and fixed costs. It is the sum of the variable and fixed costs incurred by the firm.

Want to see the full answer?

Chapter 7 Solutions

The economic order quantity for Fisk corp. Introduction: E conomic Order Q uantity (EOQ): The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

Solution Summary: The author explains how to calculate the economic order quantity for Fisk corp. and the number of orders placed for the year.

To calculate: The economic order quantity for Fisk corp. Introduction: Economic Order Quantity (EOQ): The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

To calculate: The number of orders placed during the year for Fisk corp. Introduction: Number of Orders Placed: The number of orders placed is the number of units sold during the year by the firm. It is the demand by the target customers.

To calculate:The average inventory for Fisk corp. Introduction: Average inventory: Average inventory is the value of inventory held with the firm for more than a specific time period. It can be calculated as the value of inventory for both the time periods divided by the number of time periods.

To calculate:The total cost of ordering and the carrying cost of inventory for Fisk corp. Introduction: Total cost: Total cost is the cost of all the units produced by the company. It includes all the variable and fixed costs. It is the sum of the variable and fixed costs incurred by the firm.

Want to see the full answer?

Chapter 7 Solutions

To calculate: The economic order quantity for Fisk corp.

Introduction:

Economic Order Quantity (EOQ):

The economic order quantity is the ideal quantity produced by a firm that minimizes the total variable and fixed costs of production. It is also known as optimum lot size.

To calculate: The number of orders placed during the year for Fisk corp.

Introduction:

Number of Orders Placed:

The number of orders placed is the number of units sold during the year by the firm. It is the demand by the target customers.

To calculate:The average inventory for Fisk corp.

Introduction:

Average inventory:

Average inventory is the value of inventory held with the firm for more than a specific time period. It can be calculated as the value of inventory for both the time periods divided by the number of time periods.

To calculate:The total cost of ordering and the carrying cost of inventory for Fisk corp.

Introduction:

Total cost:

Total cost is the cost of all the units produced by the company. It includes all the variable and fixed costs. It is the sum of the variable and fixed costs incurred by the firm.