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Answer:
Company A
The number of items that should be produced in each run to minimize total costs of production and storage is:
= 22,000 units
Explanation:
a) Data and Calculations:
Total annual demand = 550,000 units
Cost per production run = $330
Cost per unit = $5
Storage (holding) cost per item = $0.75
The number of items that should be produced in each run to minimize total costs of production and storage is given by Economic Order Quantity (EOQ) formula
= square root of (2 * 550,000 * $330)/$0.75
= square root of $363,000,000/$0.75
= square root of 484,000,000
= 22,000 units
Answer:
6.67 years
Explanation:
The number of years for the firm to reach the desired value of $1.2 million can determined using the nper formula in excel as below:
=nper(rate,pmt,pv,-fv)
rate is the interest rate earns by the fund at 10% per year
pmt is the addition to the fund in each year which is $50,000
pv is the current amount in the fund which is $400,000
fv is the desired value of $1.2 million
=nper(10%,50000,400000,-1200000)= 6.67 years
It would take 6.67 years for the sinking fund to reach the desired value of $1,200,000
Answer:
$40
Explanation:
Overhead per machine hour = Overhead ÷ 250,000 machine hours
= $750,000 ÷ 250,000
= $3
Cost of each unit:
= Direct material + Direct labor + Overhead
= $14 + $20 + (machine hours per unit × Overhead per machine hour)
= $14 + $20 + (2 × $3)
= $40
Therefore, the cost of each unit produced is $40.
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