Question: Joe Henry's machine shop uses 2 510 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The

Joe Henry's machine shop uses 2 510 brackets

Joe Henry's machine shop uses 2 510 brackets during the course of a year. These brackets are purchased from a supplier 90 miles away. The following information is known about the bracke Annual demand 2510 Holding cost per bracket per year $155 Order cost per order $20.00 Lead time 2 days Working days per year 250 a) What is the EOQ? units (round your response to two decimal places). units (round your response to two decimal places). b) What is the average inventory if the EOQ is used? Average Inventory units (round your response to two decimal places). What would be the annual inventory holding cost? Annual Holding Cost = units (round your response to two decimal places). c) Given the EOQ, how many orders would be made each year? Orders = (round your response to two decimal places). What would be the annual order cost? Annual Ordering cost = (round your response to two decimal places). d) Given the EOQ, what is the total annual cost of managing (ordering and holding) the inventory? Total annual cost = Holding cost + Ordering cost + Cost of goods = round your response to two decimal places). Note: In this case, since we don't know the cost of the item, we ignore the cost of goods. e) What is the time between orders? Time Between Orders = days (round your response to two decimal places). f) What is the reorder point (ROP)? Reorder Point = units (round your response to two decimal places)

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