Question: A fresh produce distributor uses 710 non-returnable packing crates a month, which it purchases at a cost of $4 each. The manager has assigned an

A fresh produce distributor uses 710

A fresh produce distributor uses 710 non-returnable packing crates a month, which it purchases at a cost of $4 each. The manager has assigned an annual holding cost of 25 percent of the purchase price per crate. Ordering cost is $22 per order. Currently the manager orders 710 crates at a time. How much could the firm save annually in ordering and holding costs by using the EOQ? (Round the final answer to 2 decimal places.) Annual savings

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