answer parts d e and f Joe Henry's machine shop uses 2,490 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information isknown about the brackets:a) What s the EOQ?Annual demandHolding cost per bracket per yearOrder cost per orderLead time.Working days per yearunits (round your response to two decimal places).e)What is the time between orders?f) What is the reorder point (ROP)?2,490$1.50$19.752 days250a) What is the EOQ?units (round your response to two decimal places).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 will be made annually?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).days (round your response to two decimal places).units (round your response to two decimal places).units (round your response to two decimal places).(round your response to two decimal places).orders (round your response to two decimal places).

Economic order quantity is a formula used by businesses to determine the ideal order amount in an…

Answered: Joe Henry's machine shop uses 2,490…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

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Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Joe Henry's machine shop uses 2,530 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 2,530 Holding cost per bracket per year $1.65 Order cost per order $18.25 Lead time 2 days Working days per year 250 Part 2 a) What is the EOQ? enter your response here units (round your response to two decimal places). Part 3 b) What is the average inventory if the EOQ is used? enter your response here units (round your response to two decimal places). What would be the annual inventory holding cost? $enter your response here (round your response to two decimal places). Part 4 c) Given the EOQ, how many orders will be made annually? enter your response here orders (round your response to two decimal places). What would be the annual order cost? $enter your response here (round…
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)…
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