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Wilson Publishing Company produces books for the retail market

Question # 00622082
Subject: Statistics
Due on: 11/25/2017
Posted On: 11/25/2017 12:54 PM

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Using the production lot size model to compute values

1. Wilson Publishing Company produces books for the retail market. Demand for a current book is expected to occur at a constant annual rate of 7200 copies. The cost of one copy of the book is $14.50. The holding cost is based on an 18% annual rate, and production setup costs are $150 per setup. The equipment on which the book is produced has an annual production volume of 25,000 copies. There are 250 working days per year and the lead time for a production run is 15 days. Use the production lot size model to compute the following values:

a. Minimum-cost production lot size

b. Number of production runs per year

c. Cycle time

d. Length of a production run

e. Maximum inventory level

f. Total annual cost

g. Reorder point

Tags retail market books produces publishing company wilson production annual cost rate book copies days compute valuesa minimumcostproduction following time working 0 peryear lead lotsize model numberof total levelf costg reorder point maximuminventory rune runs volume yearc cycletimed

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Wilson Publishing Company produces books for the retail market

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