Additional Algo 11-6 Holding Cost per Unit A company usually holds 340 pounds of wax in its warehouse. The company uses 42 pounds of wax per day and it takes 5 days for wax purchased from the supplier to arrive. The holding cost for wax is $0.28 per pound per day. What is the company's average holding cost (per pound for wax)? Note: Round your answer to 2 decimal places. Average holding cost per unit
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- The chapter presented various approaches for the control of inventory investment. Discuss three additional approaches not included that might involve supply chain managers.Additional Algo 11-5 Holding Cost per Unit A company usually holds 190 pounds of wax in its warehouse. The company uses 48 pounds of wax per day and it takes 4 days for wax purchased from the supplier to arrive. The holding cost for wax is $0.73 per pound per day. What the company's average holding cost (per pound per wax)?Joe Henry's machine shop uses 2,450 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 2,450 Holding cost per bracket per year $1.65 Order cost per order $18.50 Lead time 2 days Working days per year 250 a) What is the EOQ? __units (round your response to two decimal places). b) What is the average inventory if the EOQ is used?__ units (round your response to two decimal places). What would be the annual inventory holding cost? $__ (round your response to two decimal places). c) Given the EOQ, how many orders will be made annually?__orders (round your response to two decimal places). What would be the annual order cost? $__ (round your response to two decimal places). d) Given the EOQ, what is the total annual cost of managing (ordering and holding) the inventory? __ $ (round your response to two decimal places). d)…
- Joe Henry's machine shop uses 2,460 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 2,460 Holding cost per bracket per year $ 1.65 Order cost per order $20.00 Lead time 22 days Working days per year 250 a) What is the EOQ? b) What is the average inventory if the EOQ is used? What would be the annual inventory holding cost? c) Given the EOQ, how many orders would be made each year? What would be the annual order cost? d) Given the EOQ, what is the total annual cost of managing (ordering and holding) the inventory? e) What is the time between orders? f) What is the reorder point (ROP)?The annual demand for the Super Thrive brand plant food manufactured by Cumberbatch and Dunst Indoor Plants Company is 120,000 pounds. The annual holding cost (also known as carrying charge) is $0.05 per pound, and Operations Manager Kirsten Benedict has calculated the cost of setting up machinery for making the plant food to be $20. 1) What is the annual holding (carrying) cost for the EOQ that you calculated? 2) What is the annual setup cost for the EOQ that you calculated? 3) Compare the total cost of inventory management (holding + setup cost) for the two quantities (5,000 and the EOQ you calculated) and comment on the difference. Based on your knowledge of the idea behind EOQ, what explains the differences (in words – no need to reconcile the exact differences quantitatively). Write three to five sentences in response to this question.JNR Corporation makes wheels for toy cars. The company operates its production facility 300 days per year. It has orders for about 12,000 wheels per year and has the capability of producing 100 per day. Setting up the wheel production costs P50. The cost of each wheel is P10. The holding cost is P1 per wheel per year. a. What is the optimal size of the production run? b. What is the average holding cost per year? c. What is the average setup cost per year? d. What is the total cost per year, including the cost of the wheel?
- A company, needs 410 kg of a material per month. It costs RO 100 to make and receive an order, and it takes 12 workdays to receive it, the annual holding cost is 20% of purchase price. The price RO 2 per kg. The company is operating 6 workdays per week in a 52-week year. What is the expected time (in weeks) between orders? Round-up to the nearest integera. 185b. 115c. 100d. 111e. None is correctEOQ, reorder point, and safety stock Alexis Company uses 937units of a product per year on a continuous basis. The product has a fixed cost of $44 per order, and its carrying cost is $4 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days' usage in inventory as a safety stock. a. Calculate the EOQ. b. Determine the average level of inventory. (Note: Use a 365-day year to calculate daily usage.) c. Determine the reorder point. d. Indicate which of the following variables change if the firm does not hold the safety stock: (1) order cost, (2) carrying cost, (3) total inventory cost, (4) reorder point, (5) economic order quantity.Peach Company uses 800 units of a product per year on a continuous basis. The product has a Fixed Cost of $50 per order, and its carrying cost is $2 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days’ usage in inventory as a safety stock. Show Computations and Explanations. The EOQ = 200 Units The Average Level of Inventory = 121.92 Units The Reorder Point = 33 Units A. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Reorder Point (Format: Change or Do not Change) B. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Economic Order Quantity (Format: Change or Do not Change)
- First image is an example on how to do this exercise. Table one is a reference I need help to find the target inventory, T Sam's Cat Hotel operates 52 weeks per year, 6 days per week. It purchases kitty litter for $8.00 per bag. The following information is available about these bags: ≻Demand = 55 bags/week ≻Order cost = $70/order ≻Annual holding cost = 22 percent of cost ≻Desired cycle-service level= 99 percent ≻Lead time = 4 week(s) (24 working days) ≻Standard deviation of weekly demand = 4 bags ≻Current on-hand inventory is 250 bags, with no open orders or backorders. Suppose that Sam's Cat Hotel uses a P system. The average daily demand, d, is 9 bags (55/6), and the standard deviation of daily demand, Standard Deviation of Weekly DemandDays per Week/square root of Days per Week, is 1.633 bags. Refer to the standard normal table for z-values. a. What P (in working days) and T should be used to approximate the cost trade-offs of the EOQ?…Bulldogs Inc. expects to use 48,000 boxes of chocolate per year costing P12 per box. Inventory carrying cost is equal to 20% of the purchase price. The company uses its inventory at a constant rate. The lead time for placing the order is 3 days, and Bulldogs Co. holds 2,400 boxes of paint as safety stock. If the company orders 2,000 boxes of chocolate per order, what is the cost of carrying inventory? A. P8,160 B. P5,280 C. P5,760 D. P2,400Joe Henry's machine shop uses 2,500 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 2,500 Holding cost per bracket per year $1.50 Order cost per order $18.75 Lead time 2 days Working days per year 250 a) What is the EOQ?units (round your response to two decimal places).