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EOQ, Ordering Cost, Carrying Cost, and Total Inventory-Related Cost Ranger Company purchases 17,280 units of Product Beta each year in lots of 864...
EOQ, Ordering Cost, Carrying Cost, and Total Inventory-Related Cost
Ranger Company purchases 17,280 units of Product Beta each year in lots of 864 units per order. The cost of placing one order is $12, and the cost of carrying one unit of product in inventory for a year is $7.
Required:
If required, round your answers to nearest whole value.
1. What is the EOQ for Beta?
_____________units
2. How many orders for Beta will Ranger place per year under the EOQ policy?
_____________orders per year
3. What is the total ordering cost of Beta for a year under the EOQ policy?
$____________
4. What is the total carrying cost of Beta per year under the EOQ policy?
$____________
5. What is the total cost of Ranger's inventory policy for Beta per year under the EOQ policy?
$____________
