Electric Sheep has the following projected demands for the next six months for one of its...
Electric Sheep has the following projected demands for the next six months for one of its products. Regular time is 160 units per month and overtime is a maximum of 20 units per month. Regular time is $20 per unit, overtime cost is $30 per unit, backorder cost is $20 per unit, inventory holding cost is $1 per unit and . Calculate the total inventory/backorder cost for a level production plan. Month Forecast 1 150 2 160 3 180 4 160 5 170 6 140 Question 1 options: $40 $65 $110 $215 $410 $510 $820 $1025
Homework Answers
Below will be the level production plan -
| Month | 1 | 2 | 3 | 4 | 5 | 6 | Total |
| Forecast | 150 | 160 | 180 | 160 | 170 | 140 | 960 |
| Beginning Inventory | 0 | 10 | 10 | 0 | 0 | 0 | |
| Regular Production | 160 | 160 | 160 | 160 | 160 | 160 | 960 |
| Overtime | 0 | 0 | 10 | 0 | 10 | 0 | 20 |
| Inventory | 10 | 10 | 0 | 0 | 0 | 20 | 40 |
| Cost | |||||||
| Regular Cost | 3200 | 3200 | 3200 | 3200 | 3200 | 3200 | 19200 |
| Overtime Cost | 0 | 0 | 300 | 0 | 300 | 0 | 600 |
| Inventory Cost | 10 | 10 | 0 | 0 | 0 | 20 | 40 |
From above table, it is clear that there will not be back order,
Total Inventory/Back order cost = $40
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