A car manufacturer orders in an engine component as it is needed. The holding cost is $10
Question:
Required
a) Calculate the economic order quantity for the engine component.
b) How long, on average, would each order last and how often would it be necessary to reorder? Assume the business works 300 days a year. Economic Order Quantity
Economic order quantity (EOQ) is the ideal order quantity a company should purchase to minimize inventory costs such as holding costs, shortage costs, and order costs. This production-scheduling model was developed in 1913 by Ford W. Harris and has...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 90% (10 reviews)
a b If 5000 components are used each year working 300 days a year that is 1...View the full answer
Answered By
Ashington Waweru
I am a lecturer, research writer and also a qualified financial analyst and accountant. I am qualified and articulate in many disciplines including English, Accounting, Finance, Quantitative spreadsheet analysis, Economics, and Statistics. I am an expert with sixteen years of experience in online industry-related work. I have a master's in business administration and a bachelor’s degree in education, accounting, and economics options.
I am a writer and proofreading expert with sixteen years of experience in online writing, proofreading, and text editing. I have vast knowledge and experience in writing techniques and styles such as APA, ASA, MLA, Chicago, Turabian, IEEE, and many others.
I am also an online blogger and research writer with sixteen years of writing and proofreading articles and reports. I have written many scripts and articles for blogs, and I also specialize in search engine
I have sixteen years of experience in Excel data entry, Excel data analysis, R-studio quantitative analysis, SPSS quantitative analysis, research writing, and proofreading articles and reports. I will deliver the highest quality online and offline Excel, R, SPSS, and other spreadsheet solutions within your operational deadlines. I have also compiled many original Excel quantitative and text spreadsheets which solve client’s problems in my research writing career.
I have extensive enterprise resource planning accounting, financial modeling, financial reporting, and company analysis: customer relationship management, enterprise resource planning, financial accounting projects, and corporate finance.
I am articulate in psychology, engineering, nursing, counseling, project management, accounting, finance, quantitative spreadsheet analysis, statistical and economic analysis, among many other industry fields and academic disciplines. I work to solve problems and provide accurate and credible solutions and research reports in all industries in the global economy.
I have taught and conducted masters and Ph.D. thesis research for specialists in Quantitative finance, Financial Accounting, Actuarial science, Macroeconomics, Microeconomics, Risk Management, Managerial Economics, Engineering Economics, Financial economics, Taxation and many other disciplines including water engineering, psychology, e-commerce, mechanical engineering, leadership and many others.
I have developed many courses on online websites like Teachable and Thinkific. I also developed an accounting reporting automation software project for Utafiti sacco located at ILRI Uthiru Kenya when I was working there in year 2001.
I am a mature, self-motivated worker who delivers high-quality, on-time reports which solve client’s problems accurately.
I have written many academic and professional industry research papers and tutored many clients from college to university undergraduate, master's and Ph.D. students, and corporate professionals. I anticipate your hiring me.
I know I will deliver the highest quality work you will find anywhere to award me your project work. Please note that I am looking for a long-term work relationship with you. I look forward to you delivering the best service to you.
3.00+
2+ Reviews
10+ Question Solved
Related Book For
Accounting Business Reporting For Decision Making
ISBN: 9780730302414
4th Edition
Authors: Jacqueline Birt, Keryn Chalmers, Albie Brooks, Suzanne Byrne, Judy Oliver
Question Posted:
Students also viewed these Accounting questions
-
In your role as an internal auditor for a car manufacturer, you discovered that your employer can produce a car engine that will get 8 more miles per gallon than the existing engine. However, the...
-
BYD-"Build Your Dreams" in America THE CHINESE COMPANY BYD, an acronym for "Build Your Dreams," began life as a manufacturer of rechargeable batteries in 1995. It is now leveraging this expertise...
-
Gustavsson AB, manufacturer of tractors and other heavy farm equipment, is organized along decentralised lines, with each manufacturing division operating as a separate profit centre. Each divisional...
-
A student adds NBS to a solution of 1-methylcyclohexene and irradiates the mixture with a sunlamp until all the NBS has reacted. After a careful distillation, the product mixture contains two major...
-
In the previous question, you were asked to illustrate why the mad cow disease announcement initially caused the U. S. equilibrium price of beef to fall and the quantity to rise. Show that if the...
-
(a) Determine whether the sequence defined as follows is convergent or divergent: a 1 = 1 a n + 1 = 4 n an for n > 1 (b) What happens if the first term is a 1 = 2?
-
In addressing control procedures for prepaid insurance, which of the following controls would not be relevant to the auditor? a. Controls over purchase cutoff. b. Controls over the acquisition of new...
-
The Ashton Furniture Company manufactures coffee tables and chest of drawers. Last year the companys cost of goods sold was $3,700,000, and it carried inventory of oak, pine, stains, joiners, and...
-
What are some managerial implications or consequences of ethical leadership at a company? 2. What is ethical leadership and what is it's impact on an organization? How might authoritative and...
-
For the following situation, indicate whether the statistical application is primarily descriptive or inferential. The manager of Annas Fabric Shop has collected data for 10 years on the quantity of...
-
Shamrock Ltd faces the choice of replacing some of its equipment immediately or continuing with the old equipment for a further three years. The old equipment needs constant maintenance, often breaks...
-
List two items that provide future value to a business but are not included on a conventional balance sheet and, referring to the definition and recognition criteria for assets in the Framework, give...
-
A 0.040 M solution of a monoprotic acid is 14 percent ionized. Calculate the ionization constant of the acid.
-
Sales on a bill-and-hold basis involve selling products but not delivering those products until a later date. 42 Sales on this basis have the effect of accelerating the recognition of those sales...
-
Given the following financial statement data, calculate the net operating cycle for this company. The net operating cycle of this company is closest to: A. 3.8 days. B. 24.3 days. C. 51.7 days. In...
-
The acquisition of Sky Systems by Modern Auto and the acquisition of Sky Systems by HiFly, respectively, would be examples of a: A. vertical merger and a horizontal merger. B. conglomerate merger and...
-
Which company had the highest number of days of receivables for the year 20X1? A. Company A. B. Company B. C. Company C. Mary Gonzales is evaluating companies in the office supply industry and has...
-
Given the following financial statement data, calculate the operating cycle for this company. The operating cycle for this company is closest to: A. 42.0 days. B. 47.9 days. C. 78.5 days. In millions...
-
The material for a closed rectangular box costs $2 per square foot for the top and $1 per square foot for the sides and bottom. Using Lagrange multipliers, find the dimensions for which the volume of...
-
Write a paper about how diet relates to breast cancer in women study design to use: case control study purpose & rationale the purpose of this final project is to utilize the methods and...
-
Assuming the use of a two-column general journal, a purchases journal, and a cash payments journal as illustrated in this chapter, indicate the journal in which each of the following transactions...
-
What is an electronic form, and how is it used in a computerized accounting system?
-
What is an electronic form, and how is it used in a computerized accounting system?
-
There are two real numbers a for which (2x)+15 (1-x) = 8x - 3x + 2. The sum of these two real numbers is
-
Venita is sewing new curtains. The table below shows the relationship between the number of stitches in a row and t length of the row. Sewing Number of Length (cm) stitches 5 1 15 3 20 4 30 6 What is...
-
Net sales Cost of goods sold Depreciation INCOME STATEMENT (Figures in $ millions) Earnings before interest and taxes (EBIT) Interest expense Income before tax Taxes Net income $ 882.00 742.00 32.00...
Study smarter with the SolutionInn App