A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.30 per stone for quantities of 600 stones or more, $8.70 per stone for orders of 400 to 599 stones, and $9.20 per stone for lesser quantities. The jewelry firm operates 112 days per year. Usage rate is 19 stones per day, and ordering costs are $50. a. If carrying costs are $1 per year for each stone, find the order quantity that will minimize total annual cost. (Do not round intermediate calculations. Round your final answer to the nearest whole number.) Order quantity stones b. If annual carrying costs are 32 percent of unit cost, what is the optimal order size? (Do not round intermediate calculations. Round your final answer to the nearest whole number.) Optimal order size stones
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- A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.70 per stone for quantities of 600 stones or more, $9.20 per stone for orders of 400 to 599 stones, and $10.00 per stone for lesser quantities. The jewelry firm operates 109 days per year. Usage rate is 25 stones per day, and ordering costs are $48. a. If carrying costs are $2 per year for each stone, find the order quantity that will minimize total annual cost. (Do not round intermediate calculations. Round your final answer to the nearest whole number.) b. If annual carrying costs are 29 percent of unit cost, what is the optimal order size? (Do not round intermediate calculations. Round your final answer to the nearest whole number.) c. If lead time is 3 working days, at what point should the company reorder? (Do not round intermediate calculations. Round your final answer to the nearest whole number.)A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.30 per stone for quantities of 600 stones or more, $9.40 per stone for orders of 400 to 599 stones, and $10 per stone for lesser quantities. The jewelry firm operates 175 days per year. Usage rate is 25 stones per day, and ordering costs are $48. a. If carrying costs are $2 per year for each stone, find the order quantity that will minimize total annual cost. (Round your intermediate calculations and final answer to the nearest whole number.) Order quantity _____________ stones b. If annual carrying costs are 20 percent of unit cost, what is the optimal order size? (Round your intermediate calculations and final answer to the nearest whole number.) Optimal order size ________ stonesA jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.20 per stone for quantities of 600 stones or more, $8.70 per stone for orders of 400 to 599 stones, and $10 per stone for lesser quantities. The jewelry firm operates 214 days per year. Usage rate is 25 stones per day, and ordering costs are $48. a. If carrying costs are $2 per year for each stone, find the order quantity that will minimize total annual cost. (Round your intermediate calculations and final answer to the nearest whole number.) Order quantity stones b. If annual carrying costs are 27 percent of unit cost, what is the optimal order size? (Round your intermediate calculations and final answer to the nearest whole number.) Optimal order size stones c. If lead time is 5 working days, at what point should the company reorder? Reorder quantity stones
- A jewelry firm buys semiprecious stones to make bracelets and rings. The supplier quotes a price of $8.80 per stone for quantities of 600 stones or more, $9.20 per stone for orders of 400 to 599 stones, and $9.70 per stone for lesser quantities. The jewelry firm operates 230 days per year. Usage rate is 16 stones per day, and ordering costs are $45.a. If carrying costs are $2 per year for each stone, find the order quantity that will minimize total annual cost. (Do not round intermediate calculations, except for order quantities which should be rounded to the nearest whole number. Round your final answer to the nearest whole number.) b. If annual carrying costs are 20 percent of unit cost, what is the optimal order size? (Do not round intermediate calculations, except for order quantities which should be rounded to the nearest whole number. Round your final answer to the nearest whole number.) c. If lead time is 3 working days, at what point should the company reorder? (Do…The mythical Own Distributors has an annual demand of 2,000 units for itshandheld security wands. The average cost of the handheld security wand isUS$140. Carrying cost is 18% of the unit cost of the security wand. Orderingcosts are US$30 per order. If the company orders in quantities of 500 or more,it can get a 6% discount on the unit cost of the security wand. Should the OwenDistributors take the quantity discount?Wang Distributors has an annual demand for an air-port metal detector of 1,400 units. The cost of a typical detector to Wang is $400. Carrying cost is estimated to be 20% of the unit cost,and the ordering cost is $25 per order. If Ping Wang, the owner,orders in quantities of 300 or more, he can get a 5% discount on thecost of the detectors. Should Wang take the quantity discount?
- Meena Distributors has an annual demand for an airport metal detector of 1,420 units. The cost of a typical detector to Meena is $400. Carrying cost is estimated to be 19% of the unit cost, and the ordering cost is $25 per order. If Purushottama Meena, the owner, orders in quantities of 300 or more, he can get a 4% discount on the cost of the detectors. Should Meena take the quantity discount? Part 2 What is the EOQ without the discount? EOQ = enter your response here units (round your response to one decimal place). Part 3 Since the total cost with the discount is ▼ greater than less than the total cost without the discount, Meena ▼ should should not order 300 units at a time in order to qualify for the discount.A large hospital buys a specialized, single use medical grade plastic container for its use in the Operation Theaters. The plastic containers are available from a few suppliers and one unit of the box costs Rs. 2,000. The surgical sections (including the operating theaters) in the hospital work for 250 days a year and the daily consumption rate is four boxes. The suppliers take 7 working days to replenish an order. The ordering cost is Rs. 2,000 per order and the carrying cost is 20 percent. The hospital has been utilizing an Economic Order Quantity (EOQ) model for inventory planning with respect to these boxes. The supplier has of late introduced a Minimum Order Quantity (MOQ) restriction for all its buyers based on some internal exercise. The MOQ is 150 boxes. In the meantime, the hospital plans to launch some improvement initiatives. This will bring down the ordering cost by 20 percent. The hospital may need to spend a sum of Rs. 10,000 towards these initiatives. A new supplier is…Peach Company uses 800 units of a product per year on a continuous basis. The product has a Fixed Cost of $50 per order, and its carrying cost is $2 per unit per year. It takes 5 days to receive a shipment after an order is placed, and the firm wishes to hold 10 days’ usage in inventory as a safety stock. Show Computations and Explanations. The EOQ = 200 Units The Average Level of Inventory = 121.92 Units The Reorder Point = 33 Units A. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Reorder Point (Format: Change or Do not Change) B. Indicate if the Variable Change if the firm does not hold the Safety Stock. Variable: Economic Order Quantity (Format: Change or Do not Change)
- Floral Beauty, Inc., is a large floral arrangements store located in Asheville Mall. Bridal Lilies, which are a specially created bunch of lilies for bridal bouquets, cost Floral Beauty $19 each. There is an annual demand for 22,000 Bridal Lilies. The manager of Floral Beauty has determined that the ordering cost is $85 per order, and the carrying cost, as a percentage of the unit cost, is 14%. Floral Beauty is now considering a new supplier of Bridal Lilies. Each lily would cost only $17.50, but to get this discount, Floral Beauty would have to buy shipments of 2,000 Bridal Lilies at a time. Should Floral Beauty use the new supplier and take this discount for quantity buying? d) What is the total annual inventory cost (including purchase cost) for the current supplier? e) What is the annual holding cost for the new supplier (when purchasing 2,000 each order)? f) What is the total annual inventory cost (including purchase cost) for the new supplier (when I Need help on the formulas…Floral Beauty, Inc., is a large floral arrangements store located in Asheville Mall. Bridal Lilies, which are a specially created bunch of lilies for bridal bouquets, cost Floral Beauty $19 each. There is an annual demand for 22,000 Bridal Lilies. The manager of Floral Beauty has determined that the ordering cost is $85 per order, and the carrying cost, as a percentage of the unit cost, is 14%. Floral Beauty is now considering a new supplier of Bridal Lilies. Each lily would cost only $17.50, but to get this discount, Floral Beauty would have to buy shipments of 2,000 Bridal Lilies at a time. Should Floral Beauty use the new supplier and take this discount for quantity buying? d) What is the total annual inventory cost (including purchase cost) for the current supplier? e) What is the annual holding cost for the new supplier (when purchasing 2,000 each order)? f) What is the total annual inventory cost (including purchase cost) for the new supplier (when I Need help on the formulas…A local distributor for a national tire company expects to sell approximately 9,600 steelbelted radial tires of a certain size and tread design next year. Annual carrying cost is $16per tire, and ordering cost is $75. The distributor operates 288 days a year.a. a. What is the EOQ?