Question: 20. A food processor purchases corn for use in its products. The firm uses 500 pounds of corn per week and purchases corn for $0.25

20. A food processor purchases corn for use in

20. A food processor purchases corn for use in its products. The firm uses 500 pounds of corn per week and purchases corn for $0.25 per pound from a supplier. Each time the firm orders corn from the supplier, the firm must pay a $40 order processing charge. The firm's annual holding cost percentage is 25%. Do not round intermediate ca lculations. Assume there are 52 we ks in a year and round your answer to two decimal places. If the food processor orders 8,000 pounds of corn with each order, what is the sum of the annual holding and ordering costs? rret 7 na

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