Please provide detailed step by step procedure for the above question. The Trans-Atlantic Auto Co. r
Please provide detailed step by step procedure for the above question.
The Trans-Atlantic Auto Co. requires bumpers for car manufacturing. About 7,500 pairs of bumpers (front bumper and rear bumper) are ordered by the auto company per year, at a price of $150.00 per pair. The company spends $250.00 on each purchase order for pairs of bumpers. It costs $7.50 per unit to store one pair of bumpers for the year. Assuming 40 work weeks in a year: a. What is the EOQ? b. What is the total annual expense of ordering the EOQ? C. How many orders will be placed per year? d. Assuming the company usually operates for 40 weeks in a year, what is the expected time between orders? e. What is the total annual expense of ordering 500 pairs of bumpers each time?
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