What is the economic order quantity (EOQ) for resin?
The materials manager for a billiard ball maker must periodically place orders for resin, one of the raw materials used in producing billiard balls. She knows that manufacturing uses resin at a rate of 50 kilograms each day, and that it costs $.04 per day to carry a kilogram of resin in inventory. She also knows that the order costs for resin are $100 per order, and that the lead time for delivery is four (4) days. Assume 365 days in a year.
A) 50 kilograms
B) 100 kilograms
C) 200 kilograms
D) 500 kilograms
D) 500 kilograms
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