William Beville's computer training school, in Richmond, stocks workbooks with the following characteristics: Demand D = 19,100 units/year Ordering cost S = $26/order
Holding cost H = $3/unit/year
A) Calculate the EOQ for the workbooks.
B) What are the annual holding costs for the workbooks?
C) What are the annual ordering costs?

EOQ =  575.38 units ≈ 575 units

Annual holding cost =$862.5 ≈ $863

annual ordering cost=$863.65 ≈ $864

Explanation:

a)the EOQ for the workbooks=

= =

=  575.38 units ≈ 575 units

b)the annual holding costs for the workbooks

Annual holding cost = Economic order quantity x Holding cost /2

                = (575 x 3)/2=$862.5 ≈ $863

c) the annual ordering costs = Demand X Ordering cost/ EOQ

     = 19,100 x 26/575

=$863.65 ≈ $864

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