Question: Problem 3: With the following information, determine the EOQ. Develop an order cost $ 80 Receiving and order cost $ 30 Warehouse rent per unit

Problem 3: With the following information, determine the EOQ.

Develop an order cost

$ 80

Receiving and order cost

$ 30

Warehouse rent per unit

$ 8

Transportation cost per order

$ 120

Material Value

$ 250

Market Interest

10%

Material demand for 4 months

1,500

Each month has 4 weeks

A year has 12 months

A week has 5 days

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