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concept note to calculate Economic Production quantity , Total Annual set up and carrying cost

Question # 00235986
Subject: Economics
Due on: 04/02/2016
Posted On: 04/02/2016 07:02 AM

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Q.1 A company uses 36,000 tyres to produce car wheels every year. The company can make its own tyres simultaneously at a rate of 500 per day and the carrying cost is £2 per tyre per annum. If the company is open for 240 days of the year and each production run incurs a set-up cost of £40

· Economic production quantity

· Total annual set-up and carrying cost

· Cycle time for economic production quantity

· Run time

Tags total annual carrying cost quantity production note calculate economic concept company cost year production economic setup time tyres carrying incurs total productionquantity cycle annual quantity tyre wheels produce 0 uses make simultaneously open annum rate days

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