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The following information for the production of a machine component Z is provided. Amount (R) Annual requirement of component Z 50 000 Price per unit

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The following information for the production of a machine component Z is provided. Amount (R) Annual requirement of component Z 50 000 Price per unit 0.12 Holding costs per unit per year 0.02 Ordering costs per order 6 Required: 4.1 Calculate EOQ for component Z Calculate the total cost of holding and the total cost of ordering. (7) (8) 4.2

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