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Economic order quantity; ordering and carrying costs. Similar to Self-Study Problem 1 Marino Company…

by | Sep 9, 2023 | accounting

Economic order quantity; ordering and carrying costs. Similar to Self-Study Problem 1

Marino Company predicts that it will use 25,000 units of material during the year. The expected daily usage is 200 units, and there is an expected lead-time of five days and a desired safety stock of 500 units. The material is expected to cost $5 per unit. Marino anticipates that it will cost $50 to place each order. The annual carrying cost is $0.10 per unit.

Required:

1. Compute the order point.

2. Determine the most economical order quantity by use of the formula.

3. Calculate the total cost of ordering and carrying at the EOQ point.

  

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