please solve all parts within 30 minutes. You may need to use the appropriate technology to answer this question.Kelly's Service Station does a large business in tune-ups. Demand has been averaging 240 spark plugs per week. Holding costs are $0.05per plug per week, and reorder costs are estimated at $10 per order.Kelly's does not want to be out of stock on more than 1% of his orders. There is a one-day delivery time. The standard deviation of demandis five plugs per day. Assume a normal distribution of demand during lead time and a seven-day work week. (The station operates 52 weeksper year.)(a) What inventory policy do you suggest for Kelly's station? (Round the order size and the reorder point to the nearest whole number andthe cycle time to two decimal places.)Kelly's service station should orderspark plugs everyweeks when the supply reaches(b) What is the average amount of safety stock for the reorder point for part (a)? (Round your answer to the nearest whole number.)(c) What is the total variable weekly cost including safety stock cost (in dollars)? (Round your answer to two decimal places.)$

Given in the question: Average Demand Per Week 240 Holding Cost per plug per week $…

What inventory policy do you suggest for Kelly's station? (Round the order size and the reorder point to the nearest whole number and the cycle time to two decimal places.) Kelly's service station should order weeks when the supply reaches spark plugs every What is the average amount of safety stock for the reorder point for part (a)? (Round your answer to the nearest whole number.) What is the total variable weekly cost including safety stock cost (in dollars)? (Round your answer to two decimal places.)

What inventory policy do you suggest for Kelly's station? (Round the order size and the reorder point to the nearest whole number and the cycle time to two decimal places.) Kelly's service station should order weeks when the supply reaches spark plugs every What is the average amount of safety stock for the reorder point for part (a)? (Round your answer to the nearest whole number.) What is the total variable weekly cost including safety stock cost (in dollars)? (Round your answer to two decimal places.)

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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