Course Solutions Uncategorized (Answered) : Our home construction company still buys nails in 15-pound boxes but now we use an average of 3495 boxes a year. Preparing an or

(Answered) : Our home construction company still buys nails in 15-pound boxes but now we use an average of 3495 boxes a year. Preparing an or

June 27, 2024June 27, 2024| adminadmin| 0 Comment| 7:26 pm
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Our home construction company still buys nails in 15-pound boxes but now we use an average of 3495 boxes a year. Preparing an order and receiving a shipment of nails involves a cost of $0.55 per order. Annual carrying costs are $0.4 per bag

What will be their total cost of ordering and carrying the nails?

Expert Answer

Annual demand (D) = 3495 boxes

Ordering cost (S) = $0.55 per order

Carrying cost (H) = $0.4 per box

Economic order quantity (Q) = sqrt of (2DS /H)

= sqrt of [(2 x 3495 x 0.55) / 0.4]

= 98 boxes

Total annual cost = Ordering cost

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