Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

help please with these two questions 47 Littlefield Labs processes blood testing jobs and for each job a testing kit is used. Littlefield purchases the

help please with these two questions
image text in transcribed
image text in transcribed
47 Littlefield Labs processes blood testing jobs and for each job a testing kit is used. Littlefield purchases the kits as raw materials from a supplier at a price of $600 each and the money is immediately deducted from an interest-bearing bank account with an annual interest rate of 6% when an inventory replenishment order is placed with the supplier. An order is placed to the supplier as soon as Littlefield runs out of inventory and for each order, the supplier also charges a fixed shipping cost of $2000 for a quick one-hour delivery, regardless the size of the order. It is estimated that Littlefield will have an annual demand of 1100 jobs and daily demand is relatively stable over the year. If Littlefield place an EOQ to its supplier every time, what is expected total annual inventory holding cost? (Your simulaton case may vary.) a about $104881 about $6300 about $1541 about $12600 Littlefield Labs processes blood testing jobs and for each job a testing kit is used. Littlefield purchases the kits as raw materials from a supplier at a price of $600 each and the money is immediately deducted from an interest-bearing bank account with an annual interest rate of 6% when an inventory replenishment order is placed with the supplier. An order is placed to the supplier as soon as Littlefield runs out of inventory and for each order, the supplier also charges a fixed shipping cost of $2000 for a same day delivery, regardless the size of the order. It is estimated that Littlefield will have an annual demand of 1100 jobs and daily demand is relatively stable over the year. If Littlefield place an EOQ to its supplier every time, what is expected total annual shipping cost? (Your simulaton case may vary.) about $2000 about $25690 about $6286 about $36332

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image

Step: 3

blur-text-image

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Performance Auditing Of Public Sector Property Contracts

Authors: Lori Keating

1st Edition

0566089998, 978-0566089992

More Books

Students also viewed these Accounting questions

Question

Is it clear what happens if an employee violates the policy?

Answered: 1 week ago