Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

IM . 0 4 Joe Henry's machine shop uses 2 , 2 5 0 brackets during the course of a year. These brackets are purchased

IM.04 Joe Henry's machine shop uses 2,250 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the brackets:
Annual demand: 2,250
Holding cost per bracket per year: 1.25
Order cost per order: 18.75
Lead time: 3
Working days per year 255
Given the above information, what would be the economic order quantity (EOQ)?(round to two decimal points)

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

Successful Time Management

Authors: Patrick Forsyth

Chinese 1st Edition

7508679814, 978-7508679815

More Books

Students also viewed these General Management questions