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QUESTION 4 JAV Plastics buys raw plastic resin in 1,000-pound cartons. The company uses approximately 3,125 cartons per year. The cost of placing an

QUESTION 4 JAV Plastics buys raw plastic resin in 1,000-pound cartons. The company uses approximately 3,125 cartons per year. The cost of placing an order is $20 per order. Storage and handing costs are $50 per carton. Assume 250 working days a year. (a) What is the most economical order size? (b) Determine the average number of cartons on hand. (c) How many orders will be placed per year? (d) What is the ordering interval? (e) What is the total cost of ordering and holding the raw plastic?

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