Holding costs are 35 MU/unit/year. The ordering cost is 120 MU/order, and sales are reletively constant at 400/month. a) What is the optimal order quantity? b) What is the annual total inventory cost?

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Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.