Question $2$REQUIRED

Use the information provided below to calculate the economic order quantity.

INFORMATION

The average monthly usage of an item that costs R$2$ each and sells for R$4\mathrm{.}50$ each is $600$ units. The

holding cost is $10\%$ of the cost of the item. The cost to place an order is R$20.$

$1\mathrm{.}3$

REQUIRED

Calculate the earnings of Amanda for the day using the straight piecework incentive scheme.

INFORMATION

The standard time to produce a product is $10$ minutes. Amanda is paid R$120$ per hour and the normal

working day is $8$ hours. If Amanda produces more than her quota, she receives $1\mathrm{.}5$ times the hourly

rate on the additional output. Amanda produced $54$ units for the day.