Question: Prepare a master production schedule table based on the following information, considering 68 units as initial inventory and product lot size of 68 units. Beginning

Prepare a master production schedule table based
Prepare a master production schedule table based on the following information, considering 68 units as initial inventory and product lot size of 68 units. Beginning inventory: 68 Schedule production whenever projected-on-hand drops below 10. Production lot size is 68 units. 2. A jewellery manufacturer buys semi-precious stones. The supplier has quoted a price of $8 per stone for order quantities of 600 stones or more, $9 per stone orders of 400 to 599 stones, and $10 per stone for smaller order quantities. The jewellery manufacturer operates 240 days per year. Usage rate is 24 stones per day and ordering cost is $48 per order. If annual holding cost is 30 percent of unit cost, what is the optimal order quantity

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