Smath311lc Inventorypart1

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Question 1 Tommy orders baking equipment, according to the EOQ model with each order being for 50 units. Their carrying cost is 10%, and their order cost is P200. The equipments were purchased at a price of P800 each. What is the optimal number of orders per year?

Response: 10

Edit Question 2 A company is planning to stock a new SKU which is classified as an A inventory item. The company has the following information: annual usage is 5,000 units; cost of the SKU is P300; ordering cost is P30 per order; and carrying cost is 10 percent per year of average inventory value held. How much is the optimal value per order?

Response: P30,000

Edit Question 3 Tommy orders baking equipment, according to the EOQ model with each order being for 50 units. Their carrying cost is 10%, and their order cost is P200. The equipments were purchased at a price of P800 each. How much is the minimum inventory cost at the EOQ level?

Response: P3,850

Edit Question 4 In the EOQ model, the average inventory per cycle over many cycles is Q/2.

Response: True

Edit Question 5 Tommy orders baking equipment, according to the EOQ model with each order being for 50 units. Their carrying cost is 10%, and their order cost is P200. The equipments were purchased at a price of P800 each. What is the annual value of the equipments purchased by Tommy?

Response: P40,000 400,000 Edit Question 6 The time between placing orders is the lead time.

Response: False

Edit Question 7 To be considered as inventory, goods must be finished and waiting for delivery.

Response: False

Edit Question 8 A company is planning to stock a new SKU which is classified as an A inventory item. The company has the following information: annual usage is 5,000 units; cost of the SKU is P300; ordering cost is P30 per

order; and carrying cost is 10 percent per year of average inventory value held. How much is the minimum inventory cost at the EOQ level?

Response: P3,000

Edit Question 9 Which cost would not be considered part of a holding cost?

Response: shipping cost

Edit Question 10 A company is planning to stock a new SKU which is classified as an A inventory item. The annual usage for this SKU is 5,350 units; cost of the SKU is P360 per unit; ordering cost is P50 per order; carrying cost is 25% per year of inventory value held. Determine the total annual value usage.

Response: P1,926,000

Question 1 of 10 2 Points A company is planning to stock a new SKU which is classified as an A inventory item. The company has the following information: annual usage is 5,000 units; cost of the SKU is P300; ordering cost is P30 per order; and carrying cost is 10 percent per year of average inventory value held. What is the optimal number of orders per year? Select the correct response:



500



25



50



5

Question 3 of 10 2 Points A company is planning to stock a new SKU which is classified as an A inventory item. The company has the following information: annual usage is 5,000 units; cost of the SKU is P300; ordering cost is P30 per order; and carrying cost is 10 percent per year of average inventory value held. Determine the optimal number of units per order? Select the correct response:



75



100



60



150

Question 4 of 10 2 Points What is the term used for the cost incurred in maintaining an inventory? Select the correct response:



variable cost



fixed cost



ordering cost



carrying cost

Question 10 of 10 2 Points Inventory Select the correct response:



All of the alternatives are correct.



is not something that can be managed effectively.



is held against uncertain usage so that a supply of items is available if needed.



constitutes a small part of the cost of doing business.

Question 1 of 10 2 Points Caroline the owner of Caroline’s Boutique, Ltd., estimates that she will sell 40 decorator table this year worth 10,000.Heraccountantshavedeterminedthatorderingcostsamountsto25 per order and that the carrying costs amount to 12 ½ percent of the average inventory. How much is the total inventory cost of ordering 10 times a year? Select the correct response:



$278



$264



$313



$332

Question 6 of 10 2 Points The EOQ model Select the correct response:



considers total cost.



All of the alternatives are correct.



minimizes both ordering and holding costs.



determines only how frequently to order.

Question 3 of 10 2 Points A company is planning to stock a new SKU which is classified as an A inventory item. The annual usage for this SKU is 5,350 units; cost of the SKU is P360 per unit; ordering cost is P50 per order; carrying cost is 25% per year of inventory value held. Determine the optimal number of orders per year. Select the correct response:



59 orders per year



50 orders per year



69 orders per year



60 orders per year

Question 8 of 10 2 Points Caroline the owner of Caroline’s Boutique, Ltd., estimates that she will sell 40 decorator table this year worth $10,000. Her accountants have determined that ordering costs amounts to $25 per order and that the carrying costs amount to 12 ½ percent of the average inventory. How much is the total inventory cost of ordering 8 times a year? Select the correct response:



None of the choices



$250



$278



$264

Question 9 of 10 2 Points Constant demand is a key assumption of the EOQ model. Select the correct response:



True



False

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