Using the appropriate tools and given information (e.g., formulas, Excel, etc.) complete the parts for the two problems below. The answers can be included in the same document as the calculations. APA formatting is not required.
3A – The following table contains figures on the monthly volume and unit costs for a random sample of 16 items from a list of 2,000 inventory items at a health care facility.
Develop an A-B-C classification for these items.
Item
Unit Cost
Usage
Item
Unit Cost
Usage
K34
$10
200
F99
$20
60
K35
25
600
D45
10
550
K36
36
150
D48
12
90
M10
16
25
D52
15
110
M20
20
80
D57
40
120
Z45
80
200
N08
30
40
F14
20
300
P05
16
500
F95
30
800
P09
10
30
Given the monthly usages in the following table, classify the items in A, B, and C categories according to dollar usage.
Item
Usage
Unit Cost
4021
90
$1,400
9402
300
12
4066
30
700
6500
150
20
9280
10
1,020
4050
80
140
6850
2,000
10
3010
400
20
4400
5,000
5
Determine the percentage of items in each category and the annual dollar value for each category for part B.
3B – A bakery buys flour in 25-pound bags. The bakery uses 1,215 bags per year. Ordering cost is $10 per order. Annual carrying cost is $75 per bag.
Determine the economic order quantity.
What is the average number of bags on hand?
How many orders per year will there be?
Compute the total cost of ordering and carrying flour.
If holding costs were to increase by $9 per year, how much would that affect the minimum total annual cost?
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