Question: Question 1 (17 marks) a) What does the acronym EOQ stand for? (1 mark) b) Why do companies calculate EOQ? (2 marks) c) S Ndapuka

Question 1 (17 marks) a) What does the acronym EOQ stand for? (1 mark) b) Why do companies calculate EOQ? (2 marks) c) S Ndapuka Limited is in the business of supplying solar geysers to homesteads in the Oshana region. The solar geysers are imported from China. It costs the company N$5,000 per each order placed. The expected sales for 2022 is 220 000 solar geysers. The holding cost is expected to be N$500 per unit per annum. One geyser is sold to the local customers at N$7,000. The company operates a 280-day year. With the information above calculate: i) EOQ (5 marks) ii) Length of the order cycle (3 marks) iii) Annual holding cost (3 marks) iv) Number of orders per annum

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