Question

A bookstore expects to sell 120 120 calculus textbooks during the next year. It costs $1.65...

A bookstore expects to sell 120 120 calculus textbooks during the next year. It costs $1.65 to store one calculus textbook for one year. To reorder, there is a fixed cost of $11 , plus $1.50 for each calculus textbook ordered. In what lot size and how many times per year should an order be placed to minimize inventory costs?

Homework Answers

Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

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 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.
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?
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...
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?
A company anticipates selling 5500 units of a product at a uniform rate over the next...
A company anticipates selling 5500 units of a product at a uniform rate over the next year. When the company places an order for x units, it is charged a flat fee of $40. Carrying costs are $26 per unit per year. How many times should the company reorder each year and what should be the lot size of each order to minimize inventory costs? What is the minimum inventory cost?
1. The use of a production smoothing strategy creates inventory for products that experience a seasonal...
1. The use of a production smoothing strategy creates inventory for products that experience a seasonal fluctuation in demand.   True or False ? 2. Companies belonging to the same industry segment should have the same inventory turns.  True or False ? 3. Which of the following is a work-in-process inventory for C&A Bakery? A. Flour B. Cupcakes freshly out of the oven C. Ovens D. Cupcake mix prepared from scratch 4. C&A has on average $6000 in inventory and its daily...
1) X Company incurred the following costs in 2017: Factory insurance $5,629 Customer service 4,766 Advertising...
1) X Company incurred the following costs in 2017: Factory insurance $5,629 Customer service 4,766 Advertising costs 4,594 Factory maintenance 5,023 Direct labor 5,972 Direct materials 4,514 Sales salaries 5,023 Factory utilities 5,153 Research & Development 5,599 Material handling 4,174 What was total overhead in 2017? 2) X Company had the following inventory account balances in 2017: Account January 1 December 31 Materials $14,524    $16,900      Work in Process 14,622    21,768      Finished Goods 14,594    14,594      The following additional information for the...
1.Ford initially tried to use vertical integration to control all aspects of the production and sale...
1.Ford initially tried to use vertical integration to control all aspects of the production and sale of its automobiles. Later, Ford abandoned vertical integration and adopted a strategy of partnerships with key suppliers. The partnership arrangements were expected to cut costs for Ford but still permit the suppliers to enjoy profits at the level of the industry standard. How would it be possible for a supplier’s profits to be preserved while Ford’s costs decreased? Select one: a. Ford would agree...
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT