Question

A jewelry store expects to sell 120 diamond bracelets during the next year. It costs $2.25...

A jewelry store expects to sell 120 diamond bracelets during the next year. It costs $2.25 to store one diamond bracelet for one year. There is a fixed cost of $15 for each order. Find the lot size and the number of orders per year that will minimize inventory costs.

Math   Calculus   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
A bookstore expects to sell 400 calculus textbooks during the next year. It costs $⁢4 to...
A bookstore expects to sell 400 calculus textbooks during the next year. It costs $⁢4 to store one calculus textbook for one year. To reorder, there is a fixed cost of $⁢12.50, plus $⁢0.50 for each calculus textbook ordered. In what lot size and how many times per year should an order be placed to minimize inventory costs?
A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price...
A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8 per stone for quantities of 600 stones or more, $9 per stone for orders of 400 to 599 stones, and $10 per stone for lesser quantities. The jewelry firm operates 200 days per year. Usage rate is 25 stones per day, and ordering costs are $48. a. If carrying costs are $2 per year for each stone, find the order quantity that...
Simpson’s Shoes expects to sell 315 pairs of a certain running shoe in a year. There...
Simpson’s Shoes expects to sell 315 pairs of a certain running shoe in a year. There is a fixed charge of $140 per order and each pair of shoes cost the store $7. It costs the store $8 to store a pair of shoes for a year. Find the inventory cost as a function of ONLY the number of shoes/order. Use methods of Calculus shown recently in class to minimize the inventory costs. Give appropriate units. x=____________________________ r=____________________________ Work-> Minimum...
A sporting goods store sells 100 pool tables per year. It costs ​$50 to store one...
A sporting goods store sells 100 pool tables per year. It costs ​$50 to store one pool table for a year. To​ reorder, there is a fixed cost of ​$25 per shipment plus ​$18 for each pool table. How many times per year should the store order pool​ tables, and in what lot​ size, in order to minimize inventory​ costs?
(ECP)A sporting goods store sells 100 pool tables per year. It costs $20 to store one...
(ECP)A sporting goods store sells 100 pool tables per year. It costs $20 to store one pool table for a year. To reorder, there is a fixed cost of $40 per shipment plus $16 for each pool table. How many times per year should the store order pool tables, and in what lot size, in order to minimize inventory costs?
13) A furniture showroom expects to sell 250 sofas a year. Each sofa costs the $300,...
13) A furniture showroom expects to sell 250 sofas a year. Each sofa costs the $300, and there is a fixed charge of $500 per order. If it costs $100 to store a sofa for a year. In your asnwer provide the storgae cost function, reoder cost function, the total cost fuction, and use these information to answer how large should each order be and how often should order be placed to minimize inventory costs?
Glorious Gadgets is a retailer of astronomy equipment. They purchase equipment from a supplier and then...
Glorious Gadgets is a retailer of astronomy equipment. They purchase equipment from a supplier and then sell it to customers in their store. The function C(x)=4x+12000x^-1+4000 models their total inventory costs (in dollars) as a function of xx the lot size for each of their orders from the supplier. The inventory costs include such things as purchasing, processing, shipping, and storing the equipment. What lot size should Glorious Gadgets order to minimize their total inventory costs? (NOTE: your answer must...
Glorious Gadgets is a retailer of astronomy equipment. They purchase equipment from a supplier and then...
Glorious Gadgets is a retailer of astronomy equipment. They purchase equipment from a supplier and then sell it to customers in their store. The function C(x)=4.5x+20000x−1+8000C(x)=4.5x+20000x-1+8000 models their total inventory costs (in dollars) as a function of xx the lot size for each of their orders from the supplier. The inventory costs include such things as purchasing, processing, shipping, and storing the equipment. What lot size should Glorious Gadgets order to minimize their total inventory costs? (NOTE: your answer must...
i need only part a Scenario: Dazzle Jewelry Company is a new startup merchandising company with...
i need only part a Scenario: Dazzle Jewelry Company is a new startup merchandising company with the goal of offering fine jewelry at reasonable prices. This goal has been made possible by securing manufactures that have agreed to offer wholesale prices to Dazzle Jewelry Company. Dazzle's jewelry supplier's act in good faith is based on the hopes that this will be a long term relationship, and Dazzle's orders will increase considerably with the next 18 months. However, in order for...
Aberwald Corporation expects to order 126,000 memory chips for inventory during the coming year, and it...
Aberwald Corporation expects to order 126,000 memory chips for inventory during the coming year, and it will use this inventory at a constant rate. Fixed ordering costs are $200 per order, the purchase price per chip is $25, and the firm's inventory carrying costs is equal to 20% of the purchase price. (Assume a 360-day year.) Refer to Scenario: Aberwald. If Aberwald holds a safety stock equal to a 30-day supply of chips, what is Aberwald's minimum cost of ordering...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT