Homework Answers
EOQ= Sq. Rt. (( 2 x Annual Demand x Setup Costs) / Holding Costs)
Thus, Annual demand= $45,629
Setup Costs= $120 per setup
Holding Costs= 4.92 per year
We will first calculate the EOQ which is =
Sq Rt. ( 2 x 45,629 x 120 ) / 4.92
Sq Rt. (2225804.88)
EOQ = 1491.9 or 1492.
Using this optimal batch size, the annual holding costs would be: H*EOQ/2
= 4.92 x 1492 / 2 = $3670.32
and the annual setup cost is S*(D/EOQ) =
120 * ( 45,629 / 1492)
120 x 30.58
= $3669.6
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