Using an appropriate Fixed Order Quantity system model compute the following: (a) Minimum cost production lot size (whole number with no commas) - copies (b) Number of production runs per year (two decimal points) - runs () Cycle time (two decimal points) - days (d) Length of production run (two decimal points) - days (e) Maximum inventory (use the closest Z value, answer whole number) - copies
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- Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7,800 copies. The cost of one copy of the book is $11.50. The holding cost is based on an 18% annual rate, and production setup costs are $150 per setup. The equipment with which the book is produced has an annual production volume of 25,000 copies. Wilson has 250 working days per year, and the lead time for a production run is 15 days. Use the production lot size model to compute the following values. (Round your answers to two decimal places.) (a) Minimum cost production lot size 1281.82 (b) Number of production runs per year 6.08 x You may have rounded in the wrong direction. (c) Cycle time 41.08 (d) Length of a production run (in days) 12.82 (e) Maximum inventory 881.90 days (f) Total annual cost (in $) $ 1369.21 (g) Reorder point 468Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7,400 copies. The cost of one copy of the book is $11.50. The holding cost is based on an 18% annual rate, and production setup costs are $150 per setup. The equipment with which the book is produced has an annual production volume of 25,000 copies. Wilson has 250 working days per year, and the lead time for a production run is 15 days. Use the production lot size model to compute the following values. (Round your answers to two decimal places.) (a)Minimum cost production lot size (b)Number of production runs per year (c)Cycle time (d)Length of a production run (in days) days (e)Maximum inventory (f)Total annual cost (in $) $ (g)Reorder point(e) Maximum inventory (f) Total annual cost (in $) $ (g) Reorder point
- Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7500 copies. The cost of one copy of the book is $14.50. The holding cost is based on an 20% annual rate, and production setup costs are $150 per setup. The equipment on which the book is produced has an annual production volume of 25,000 copies. Wilson has 250 working days per year, and the lead time for a production run is 15 days. Use the Economic Production Quantity model to compute the following values: Minimum cost production lot size Number of production runs per year Cycle time Length of a production run Maximum inventory Total annual cost Reorder pointMorning Glory buys cereal directly from the manufacturer for $20 per case. The company’s annual demand for cereal is 200,000 cases and the company believes that the demand is constant for each of the 250 days per year that it is open for business. Average lead time from the supplier for new orders is a constant 8 days. The purchasing agent at Morning Glory estimates the annual inventory carrying cost is 10% and it costs approximately $40 to prepare, send, and receive an order. A. if economic order quantity is 2828 B. average inventory be based 2828 is 1414 What is the reorder point based on the answer to (a)? Morning Glory discovered if it orders 10,000+ cases each time, it can obtain a $2 price break per case from the supplier. What order quantity should Morning Glory place based on this information?A publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7500 copies. The cost of one copy of the book is $27.50. The holding cost is based on 18% annual rate, and production setup costs are $550.00. The equipment on which the book is produced has an annual production volume of 21,000 copies. The Company uses 250 working days per year and the lead time for a production run is 12 days. Assume the company is willing to tolerate one stock-out per year and that the lead time demand follows a normal distribution with a standard deviation of 75 copies. Using an appropriate Fixed Order Quantity system model compute the following: (a) Length of production run (two decimal points) (b) Maximum inventory (use the closest Z value, answer whole number) (c) The reorder point (whole number) (d) Total annual stocking cost (two decimal points with no commas)
- Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7,000 copies. The cost of one copy of the book is $12. The holding cost is based on an 15% annual rate, and production setup costs are $130 per setup. The equipment on which the book is produced has an annual production volume of 21,500 copies. Wilson has 250 working days per year, and the lead time for a production run is 13 days. Use the production lot size model to compute the following values:Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7,400 copies. The cost of one copy of the book is $13. The holding cost is based on an 15% annual rate, and production setup costs are $140 per setup. The equipment on which the book is produced has an annual production volume of 26,500 copies. Wilson has 250 working days per year, and the lead time for a production run is 15 days. Use the production lot size model to compute the following values: I need help from 4 to 7 please Minimum cost production lot size. Round your answer to the nearest whole number. Do not round intermediate values. Q* = 1214 Number of production runs per year. Round your answer to two decimal places. Do not round intermediate values. Number of production runs per year = 6.09 Cycle time. Round your answer to two decimal places. Do not round intermediate values. T = 41.01 Length of a production run. Round your answer to…Holstein Computing manufactures an inexpensive audio card (Audio Max) for assembly into several models of its microcomputers. The annual demand for this part is 100,000 units. The annual inventory carrying cost is $5 per unit and the cost of preparing an order and making production setup for the order is $750. The company operates 250 days per year. The machine used to manufacture this part has a production rate of 2000 units per day. Please keep two digits after the decimal and don't omit 0 before the decimal, e.g., 0.78 1. How many orders are produced in a year? 2. What is the maximum inventory for Audio Max? 3. How long is the production run for each order? 4. What is the total annual cost of preparing the orders and making the setups for Audio Max?
- Metal scrapyard requires, on average, 2,700 tons of aluminum each week, with a standard deviation of 700 tons. The lead time to receive its orders is 8 weeks. The holding cost for one ton of aluminum for one week is $9. It operates with a 0.99 in-stock probability. on average how many tons does it have on order? on average how many tons does it have on hand? if its average inventory was 4500 tons, what would be the average holding cost per week? if its average inventory was 9000 tons, what would be its average holding cost per week? Suppose its on-hand is 5375 tons, on average, what in stock probability does it offer to customers?A restaurant uses 5,000 quart bottles of ketchup each year. The ketchup costs $3.00 per bottle and is served only in whole bottles because its taste quickly deteriorates. The restaurant figures that it costs $10.00 each time an order is placed, and holding costs are 20 percent of the purchase price. It takes 3 weeks for an order to arrive. The restaurant operates 50 weeks per year. The restaurant would like to use an inventory system that minimizes inventory cost. The restaurant has figured that the most economical order size or EOQ is approx. 409 (rounding up the decimals). Suppose that things have become uncertain and that customer demand is no more constant. Customer demand is now normally distributed with mean being the same as given in the problem description and standard deviation = 30 units per week. The supply source is still very reliable and as a result the lead time is constant. Find out the safety stock needed to achieve 95% customer service level. O 55 65 075 85 None of…A local company produces an erasable programmable read-only memory (EPROM) for severalindustrial clients. It has experienced a relatively flat demand of 2,500 units per year for theproduct. The EPROM is produced at a rate of 10,000 units per year. The accounting departmenthas estimated that it costs $50 to initiate a production run, each unit costs the company $2 tomanufacture, and the cost of holding is based on a 30 percent annual interest rate. Determinethe optimal size of a production run, the length of each production run, and the average annualcost of holding and setup. What is the maximum level of the on-hand inventory of the EPROMs?