3. economic order quantity (EOQ), and when production feeds demand, it utilizes the economic production quantity (EPQ). MCQ quiz on Inventory management multiple choice questions and answers on Inventory management MCQ questions quiz on Inventory management objectives questions with answer test pdf. A 30% B 12% C 18% D 22% 12 A company has calculated a $10,000 adverse direct material variance by subtracting its flexed budget direct material cost from its â¦ Question 31b - September 2016 Nesud Co has credit sales of $45 million per year and on average settles accounts with trade payables after 60 days. my supervisor would prefer i use a rating scale (1-5) to ask questions on firm size. There are 30 questions and you have 120 minutes. (a) Ascertain the economic order quantity and the number of orders each of the economic order quantity, to be placed for the component in a year. 11 A company has a capital employed of $200,000. It has a cost of capital of 12% per year. 6. 6. Sample Practice Questions, Answers, and Explanations 903 7. Professionals, Teachers, Students and Kids Trivia Quizzes to test your knowledge on the subject. Each question has only one correct answer. Its residual income is $36,000. 4. Keywords: Economic order quantity, Inventory management, Inventory control Introduction This model is known asEconomic order quantity (EOQ) model, because it established the most economic size of order to place. Orders bring the IP to a target level, R. 9-33 What is the companyâs return on investment? You should write the letter of your choice (a, b, c, or d) clearly in the box before the relevant question. Correct. Eoq questions 1. One of its suppliers has offered the company an early settlement discount â¦ 2. ... Economic order quantity (Q*) is given by: (c) Order quantity more than 50 sheets: unit price $17.25 2 u (Total demand) u (Ordering cost) Q Holding cost 2 u 100 u 45 Q 51.1 units or 51 units 0.20 u 17.25 where the total â¦ i am working on inventory management strategies and firm performance and i am controlling for firm size. Abusive acts can be: a. Determine if the discount offer should be accepted. A correct answer is worth 1 point. No answer or a wrong answer â¦ In fixed-time period systems the time between orders, T, is constant, and the order quantity varies. ANSWER for Exercise 1: Since Cindy knows that Mindy learned only the EOQ model during her MBA, Cindy safely assumes that Mindy uses the EOQ formula which yields R = Q2h 2K = 102 â400 2â200 = 100=year: Competitors can use each otherâs demand information while formulating sales strategies such as price dis-counts, sales â¦ This is not an easy question to answer, but it makes for good discussion. Abuse is distinguished from noncompliance in that abusive conditions may Q1 â¢ Annual Demand = 1,000 units â¢ Days per year considered in average daily demand = 365 â¢ Cost to place an order = $10 â¢ Holding cost per unit per year = $2.50 â¢ Lead time = 7 days â¢ Cost per unit = $15Determine the economic order quantity and the reorder point. In 1913, Ford W. Harris developed this formula â¦ Legal but unethical. (b) Assuming that the average daily consumption of the above component is 14 units and that the normal lead time is 15 days, calculate the ordering level for the component, where â¦ Download Full PDF Package. (If several answers seem possible to you, choose the best one). 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