Economic Order Quantity

Melchar Company uses 62,229.64 pounds of oats each year. The cost of placing an order is $21, and the carrying cost for one pound of oats is $0.45.

Required:

1. Compute the economic order quantity for oats. If required, round your answer to the nearest whole number.

fill in the blank 1 pounds

2. Compute the carrying and ordering costs for the EOQ. If required, round your answers to the nearest cent.

Carrying cost	$fill in the blank 2
Ordering cost	$fill in the blank 3