1 answer

Please answer all questions In details. Thank you A company requires 30,000 units of a product...

Question:

A company requires 30,000 units of a product in a single year. It takes $300 for them to place a single order of the product.
A company requires 30,000 units of a product in a single year, it takes $300 for them to place a single order of the product.
A company requires 30.000 units of a product in a single year. It takes $300 for them to place a single order of the product.

please answer all questions In details. Thank you
A company requires 30,000 units of a product in a single year. It takes $300 for them to place a single order of the product. If the product is carried in inventory, the carrying cost equals 196 of the price of the product on a single unit of the product held in inventory. The product costs $200 per unit and the company works for a total of 300 days in the year. What is the average Inventory level for the product? 50 units 100 units 1500 units 3000 units
A company requires 30,000 units of a product in a single year, it takes $300 for them to place a single order of the product. If the product is carried in inventory, the carrying cost equals 19 of the price of the product on a single unit of the product held in inventory. The product costs $200 per unit and the company works for a total of 300 days in the year. How many orders of the product are placed in the year? 10 orders 20 orders 50 orders 100 orders
A company requires 30.000 units of a product in a single year. It takes $300 for them to place a single order of the product. If the product is carried in Inventory, the carrying cost equals 19 of the price of the product on a single unit of the product held in inventory. The product costs $200 per unit. What is the order quantity that minimizes total inventory cost for the product? 100 units 200 units 3000 units 6000 units

Answers

Annual Requirement/Demand, D = 30000 units

Ordering Cost, S = 300 per order

Product price = 200

Holding cost, H = 1% of price = 200*1% = 2

Q = Optimal Order Quantity = \sqrt{} (2DS/H) = \sqrt{} (2*30000*300/2) = 3000

Average Inventory Level for the product = Q/2 = 3000/2 = 1500

No. of orders placed in the year = D/Q = 30000/3000 = 10

The order quantity that minimizes total inventory costs for the product is the optimal order quantity or the Economic Order Quantity = 3000

The total annual cost is minimal if the EOQ is ordered.

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