In general, as the order size increases Select one: both ordering and carrying costs decrease. O b. ordering costs decrease and carrying costs increase. O c. ordering costs increase and carrying costs decrease. O d. both ordering and carrying costs increase.
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- Which of the following is true for inventory control: Select one a . Economic order quantity has minimum cost per order b . All the options are correct c . Inventory carrying cost increases with quantity per order d. Ordering cost decreases with lot sizeV1 A local furniture store sells an average of 40 tables per week. The store orders 80 tables each time, and the ordering cost is $1,600 per order. 1. How many weeks are there between two consecutive orders? 2. What is the average weekly (total) ordering cost paid by the furniture store?The basic EOQ model is based on all the following assumptions except: * A. Annual demand is known and constant.B. The item is always available when needed.C.Estimates of ordering and carrying costs are accurate.D.Order is instantaneously received exactly when previous inventory has just been used up.
- A large bakery buys flour in 25-pound bags. The bakery uses an average of 1,215 bags a year. Preparing an order and receiving a shipment of flour involves a cost of $10 per order. Annual carrying costs are $75 per bag. a. Determine the economic order quantity. (Round your final answer to the nearest whole number.) Economic order quantity bags b. What is the average number of bags on hand? (Round your final answer to the nearest whole number.) Average number of bags c. How many orders per year will there be? (Round your final answer to the nearest whole number.) Number of orders per year d. Compute the total cost of ordering and carrying flour. (Round your final answer to the nearest whole number. Omit the "$" sign in your response.) Total cost $ e. If annual holding costs were to increase by $9 per bag, how much would that affect the minimum total annual cost? (Round your intermediate calculations to 2 decimal places and final…Inventory classification system VED is based on a. Values of consumptions. b. Criticalities of the components. c. Consumption patterns of components. d. Values of components in stockEdwarldo’s Manufacturing uses 2,400 units of a product per year on a continuous basis. The product Carrying Cost are $60 per year and Ordering Cost are $250. It takes 20 days to receive a shipment after an order is placed and the firm requires a safety stock of 8 days of usage in inventory. Show Computations and Explanations. A. Calculate the Economic Order Quantity (round up the answer to the nearest whole unit) (Format: 111) B. Calculate the Total Cost per year to order and carry this item. (Format: 1,111) C. Their supplier has notified the company that if they increase their order quantity by 58 units, they will give the company a discount. Calculate the Dollar Discount that the company will have to at least give to Edwarldo’s Manufacturing to be indifferent. (Format: 111)
- The basic EOQ model is based on all the following assumptions except: A. Annual demand is known and constant.B. The item is always available when needed.C. Estimates of ordering and carrying costs are accurate.D. Order is instantaneously received exactly when previous inventory has just been used up.Fisk Corporation is trying to improve its inventory control system and has installed an online computer at its retail stores. Fisk anticipates sales of 112, 500 units per year, an ordering cost of $3 per order, and carrying costs of $1.20 per unit. a. What is the economic ordering quantity? b. How many orders will be placed during the year? c. What will the average inventory be? d. What is the total cost of ordering and carrying inventory?What are order cycle costs if annual demand is 10,900 units, the order quantity is 1,800 units, and annual order cost is $140? What if the order size changes to 900 units or 10,900 units? Round your answers to the nearest cent. If the order quantity is 1,800 units, the order cycle costs are $ . If the order quantity is 900 units, the order cycle costs are $ . If the order quantity is 10,900 units, the order cycle costs are $ .
- Assuming constant annual demand for an item, increasing its orderquantity: A. Increases the number of orders placed per year.B. Increases the total annual purchasing cost.C. Increases the total annual inventory carrying costs.D. Decreases the number of orders placed per yearWhich one of the following variables is not explicitly considered in the computation of the Economic Order Quantity? a. Per unit per year cost of storage and storage insurance for the inventories purchased b. Annual quantity forecasted by the firm that will satisfy the demand of the customers c. Any deductions from the selling price granted by the suppliers to the buyers due to certain quantities reached d. Ordering or transaction cost that must be constant regardless of quantity orderedA company orders 60 units every time place an order. Inventory holding cost is 40% pf the $10 unit cost. The annual demand is 240 units. (a) Compute the fixed ordering cost for which placing 60 units of order is optimal. (b) If the actual fixed ordering cost is larger than the value found in the previous part, then what would be the impact of this in company's orderin policy.