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Find and calculate the economic order quantity

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Reference no: EM132550968

Mellissa Jakes operates a bakery. One of the major raw materials that she uses is organic wheat flour, which she buys at $4.50 per kilogram. The bakery operates 350 days per year. The following information is provided.

Annual usage of organic wheat60,000 kgAverage time between placing and receiving an order5 daysEstimated cost of ordering and receiving inventory per order$7.50Estimated annual cost of carrying a kilogram of wheat in stock$0.50

Question 1: Calculate the economic order quantity

Option 1: 1342 kg per order

Option 2: 949 kg per order

Option 3: 1341 kg per order

Option 4: 2079 kg per order

Reference no: EM132550968

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