A liquor warehouse expects to sell 10,000 bottles of scotch whiskey in a year. Each bottle...
A liquor warehouse expects to sell 10,000 bottles of scotch whiskey in a year. Each bottle costs $10, plus a fixed charge of $75 per order. If it costs $6 to store a bottle for a year, how many bottles should be ordered at a time and how many orders should the warehouse place in a year to minimize inventory costs?
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| bottles per order | |
| orders per year |
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A liquor warehouse expects to sell 10,000 bottles of scotch
whiskey in a year. Each bottle...
Tutorial Exercise A supermarket expects to sell 16,000 boxes of sugar in a year. Each box...
Tutorial Exercise A supermarket expects to sell 16,000 boxes of sugar in a year. Each box costs $2, and there is a fixed delivery charge of $20 per order. If it costs $1 to store a box for a year, what is the order size and how many times a year should the orders be placed to minimize inventory costs? Click here to begint
McDuff Preservers expects to bottle and sell 2,300,000 32-oz jars of jam at a uniform rate...
McDuff Preservers expects to bottle and sell 2,300,000 32-oz jars of jam at a uniform rate throughout the year. The company orders its containers from Consolidadted Bottle Company. The cost of ordering a shipment of bottles is $193, and the cost of storing each empty bottle for a year is $0.48. (Assume that each shipment of bottles is used up before the next shipment arrives. Round your answer to the nearest whole number. How many orders should McDuff place per...
MANAGERAIL ECONOMICS: JVR Company expects to sell about P 1 million this year and the accountant...
MANAGERAIL ECONOMICS: JVR Company expects to sell about P 1 million this year and the accountant has determined that ordering costs add up to P 200 per order, while carrying costs is 15 % of inventory. Determine how many orders should be made within the year , and the number of units that should be ordered every time an order is placed , if the price of goods per unit is P 150. The answer must be detailed.
The proprietor of a vineyard estimates that if 10,000 bottles of wine were sold this season, then the profit would be $7.50/bottle. But if more than 10,000 bottles were produced, then the profit per b...
The proprietor of a vineyard estimates that if 10,000 bottles of wine were sold this season, then the profit would be $7.50/bottle. But if more than 10,000 bottles were produced, then the profit per bottle for the entire lot would drop by $0.00025 for each additional bottle sold. Assuming that at least 10,000 bottles of wine are sold, and let x denote the number of bottles produced and sold in excess of 10,000. a. Determine the quadratic profit function P...
Cast members can sell 5000 spirit jerseys in a year. They wish to get them in...
Cast members can sell 5000 spirit jerseys in a year. They wish to get them in equal orders of x jerseys and sell them at a uniform rate. The carrying cost is $60 per jersey, and the cost of placing the order is $75. How many orders should the cast members place, and what should be their size in order to minimize the cost?
1. A 7-11 convenience store orders identical bottles of wine from a wine distributor every week....
1. A 7-11 convenience store orders identical bottles of wine from a wine distributor every week. Let X be the weekly demand from customers for this wine with the following probability distribution: X = x P(X=x) 0.1 0.2 0.4 0.1 It only costs the 7-11 store $60 to order each bottle of wine but the store charges $75 to customers per bottle. How many bottles of wine should the 7-11 store order each week to maximize its expected profit? [For...
Sparkling Water, Inc., expects to sell 2.83 million bottles of drinking water each year in perpetuity....
Sparkling Water, Inc., expects to sell 2.83 million bottles of drinking water each year in perpetuity. This year each bottle will sell for $1.40 in real terms and will cost $.93 in real terms. Sales income and costs occur at year-end. Revenues will rise at a real rate of 6 percent annually, while real costs will rise at a real rate of 5 percent annually. The real discount rate is 10 percent. The corporate tax rate is 38 percent. What...
Problem 17-16 Safety Stocks and Order Points (LO3] Saché, Inc., expects to sell 1,540 of its...
Problem 17-16 Safety Stocks and Order Points (LO3] Saché, Inc., expects to sell 1,540 of its designer suits every week. The store is open seven days a week and expects to sell the same number of suits every day. The company has an EOQ of 1,340 suits and a safety stock of 220 suits. Once an order is placed, it takes three days for Saché to get the suits in. How many orders does the company place per year? (Do...
A retail outlet for calculators sells 700 calculators per year. It costs $2 to store one...
A retail outlet for calculators sells 700 calculators per year. It costs $2 to store one calculator for a year. To reorder, there is a fixed cost of $7, plus $1.25 for each calculator. How many times per year should the store order calculators, and in what lot size, in order to minimize inventory costs? calculators times per year to minimize inventory costs. The store should order (Simplify your answers.)
A retail outlet for calculators sells 900 calculators per year. It costs $2 to store one...
A retail outlet for calculators sells 900 calculators per year. It costs $2 to store one calculator for a year. To reorder, there is a fixed cost of $4, plus $1.75 for each calculator. How many times per year should the store order calculators, and in what lot size, in order to minimize inventory costs? calculators times per year to minimize inventory costs. The store should order (Simplify your answers.)
Tutorial Exercise A supermarket expects to sell 16,000 boxes of sugar in a year. Each box costs $2, and there is a fixed delivery charge of $20 per order. If it costs $1 to store a box for a year, what is the order size and how many times a year should the orders be placed to minimize inventory costs? Click here to begint
McDuff Preservers expects to bottle and sell 2,300,000 32-oz jars of jam at a uniform rate throughout the year. The company orders its containers from Consolidadted Bottle Company. The cost of ordering a shipment of bottles is $193, and the cost of storing each empty bottle for a year is $0.48. (Assume that each shipment of bottles is used up before the next shipment arrives. Round your answer to the nearest whole number. How many orders should McDuff place per...
1. A 7-11 convenience store orders identical bottles of wine from a wine distributor every week. Let X be the weekly demand from customers for this wine with the following probability distribution: X = x P(X=x) 0.1 0.2 0.4 0.1 It only costs the 7-11 store $60 to order each bottle of wine but the store charges $75 to customers per bottle. How many bottles of wine should the 7-11 store order each week to maximize its expected profit? [For...
Sparkling Water, Inc., expects to sell 2.83 million bottles of drinking water each year in perpetuity. This year each bottle will sell for $1.40 in real terms and will cost $.93 in real terms. Sales income and costs occur at year-end. Revenues will rise at a real rate of 6 percent annually, while real costs will rise at a real rate of 5 percent annually. The real discount rate is 10 percent. The corporate tax rate is 38 percent. What...
Problem 17-16 Safety Stocks and Order Points (LO3] Saché, Inc., expects to sell 1,540 of its designer suits every week. The store is open seven days a week and expects to sell the same number of suits every day. The company has an EOQ of 1,340 suits and a safety stock of 220 suits. Once an order is placed, it takes three days for Saché to get the suits in. How many orders does the company place per year? (Do...
A retail outlet for calculators sells 700 calculators per year. It costs $2 to store one calculator for a year. To reorder, there is a fixed cost of $7, plus $1.25 for each calculator. How many times per year should the store order calculators, and in what lot size, in order to minimize inventory costs? calculators times per year to minimize inventory costs. The store should order (Simplify your answers.)
A retail outlet for calculators sells 900 calculators per year. It costs $2 to store one calculator for a year. To reorder, there is a fixed cost of $4, plus $1.75 for each calculator. How many times per year should the store order calculators, and in what lot size, in order to minimize inventory costs? calculators times per year to minimize inventory costs. The store should order (Simplify your answers.)
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