Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Jordin Henry's machine shop uses 2 , 5 3 0 brackets during the course of a year. These brackets are purchased from a supplier 9

Jordin Henry's machine shop uses 2,530 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
2,530
Holding cost per bracket per year
$1.55
Order cost per order
$18.25
Lead time
2 days
Working days per year
250
Part 2
a)
What is the EOQ? 244.09244.09 units (round your response to two decimal places).
Part 3
b)
What is the average inventory if the EOQ is used? 122.05122.05 units (round your response to two decimal places).
What would be the annual inventory holding cost?$189.17189.17(round your response to two decimal places).
Part 4
c)
Given the EOQ, how many orders will be made annually? 10.3610.36 orders (round your response to two decimal places).
What would be the annual order cost?$189.06189.06(round your response to two decimal places).
Part 5
d)
Given the EOQ, what is the total annual cost of managing(ordering and holding) the inventory? $378.23378.23(round your response to two decimal places).
Part 6
e)
What is the time between orders? enter your response here days (round your response to two decimal places).

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

Essentials Of General Management In Africa

Authors: Lemayon Lemilia Melyoki, Betty Jane Punnett

1st Edition

0367435195, 978-0367435196

More Books

Students also viewed these General Management questions

Question

c. What is the persons contact information?

Answered: 1 week ago