
MA - Ch. 3 & 4
Authored by PFC Education
Professional Development
1st Grade
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24 questions
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1.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
A company orders a particular raw material in order quantities of 250 units. No safety inventory is held. The inventory holding cost is $3 per unit per annum and the annual demand is 2,500 units.
What is the annual inventory holding cost of the material?
£375
£750
£3,750
£7,500
2.
MULTIPLE CHOICE QUESTION
30 sec • 2 pts
Which of the following statements about the economic order quantity is true?
3.
MULTIPLE CHOICE QUESTION
1 min • 2 pts
What will be the maximum level of inventory?
40,000 units
44,500 units
46,750 units
50,000 units
4.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
The demand for a product is 12,500 units for a three-month period. Each unit of product has a purchase price of $15 and ordering costs are $20 per order placed.
The annual holding cost of one unit of product is 10% of its purchase price.
What is the Economic Order Quantity (to the nearest unit)?
577
816
866
1,155
5.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
A company determines its order quantity for a raw material by using the Economic Order Quantity (EOQ) model.
What would be the effects on the EOQ and the total annual holding cost of a decrease in the cost of ordering a batch of raw material?
EOQ - Higher
Total annual holding cost- Lower
EOQ - Higher
Total annual holding - Higher
EOQ - Lower
Total annual holding - Higher
EOQ - Lower
Total annual holding - Lower
6.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
What reorder level (in units) will prevent stock outs?
5,000
6,000
7,800
8,000
7.
MULTIPLE CHOICE QUESTION
45 sec • 2 pts
A company uses 9,000 units of a component a year. The component has a purchase price of $40 per unit and the cost of placing an order is $160. The annual holding cost of one component is equal to 8% of its purchase price.
4. What is the economic order quantity (to the nearest unit) of the component?
530
671
949
1,342
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