Hi,Pls assist on steps and answers,Thank you. Chapter 4. Tyler decided to open a bakery because everyone he knew told him that hisbaked goods were "out of this world." He had a little bit of a business school backgroundbecause he got his Bachelor's from SPS at UIW recently. He remembered his teachertelling him that inventory models can be used for both the raw materials as well as thefinished products for a business like his. So, he decided to see if he could use the basicEOQ model for identifying how much quantity to order of raw materials such as eggs,flour, sugar, etc. To get started, he decided to create a model for flour based on theinformation he had on hand regarding potential costs as follows:Usage per month 100 bs.• Purchase cost $1 per Ib.Order cost $10.00 per order sentAnnual Holding Rate 10% of purchase price per Ib.• 52-week year 300 working days per year• Lead time 2 daysFill in the following table based on this information:Answer TypeOptimal Inventory PolicyEconomic Order Quantity Q*Annual Inventory Holding CostH1Ibs.2dollarsAnnual Ordering Cost Odollars

Economic order quantity is the optimal quantity that the business needs to buy the inventory to…

Fill in the following table based on this information: # Optimal Inventory Policy 1 Economic Order Quantity Q* Annual Inventory Holding Cost 2 H Answer Type Ibs. dollars 3 Annual Ordering Cost O dollars

Fill in the following table based on this information: # Optimal Inventory Policy 1 Economic Order Quantity Q* Annual Inventory Holding Cost 2 H Answer Type Ibs. dollars 3 Annual Ordering Cost O dollars

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

Hi,

Pls assist on steps and answers,

Thank you.

Chapter 4. Tyler decided to open a bakery because everyone he knew told him that his
baked goods were "out of this world." He had a little bit of a business school background
because he got his Bachelor's from SPS at UIW recently. He remembered his teacher
telling him that inventory models can be used for both the raw materials as well as the
finished products for a business like his. So, he decided to see if he could use the basic
EOQ model for identifying how much quantity to order of raw materials such as eggs,
flour, sugar, etc. To get started, he decided to create a model for flour based on the
information he had on hand regarding potential costs as follows:
Usage per month 100 bs.
• Purchase cost $1 per Ib.
Order cost $10.00 per order sent
Annual Holding Rate 10% of purchase price per Ib.
• 52-week year 300 working days per year
• Lead time 2 days
Fill in the following table based on this information:
Answer Type
Optimal Inventory Policy
Economic Order Quantity Q*
Annual Inventory Holding Cost
H
1
Ibs.
2
dollars
Annual Ordering Cost O
dollars

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