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THE BASIC EOQ MODEL
This is the most simple of all the models discussed. In addition to the general assumptions which relate to all deterministic models (i.e. certainty of all parameters) it is further assumed that:
a. Demand is continuous and constant over time.b. That suppliers lead time is zero i.e. stocks are delivered immediately on the day the order is made.c. That stock-outs are not permitted.d. There are no massiveness quantity discounts.e. Holding costs per unit, ordering costs per order and costs per unit are constant. Relevant costs of basic EOQ model:
The related costs that must be considered when determining optimum inventory levels can be classified into two categories:
(i) Ordering costs.(ii) Holding (Carrying) Costs.
That is, TC = Ordering Costs + Holding Costs
You recently began a job as an accounting intern at Indoor Racing Ltd. Your first task was to help prepare the cash budget for February and March. Unfortunately, the computer with
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Direct materials,4yard at$3.50per yard...$14.00 Direct labor,1.5direct labor hours at $12.00 per direct labor hour....$18 Variableoverhead,1.5 direct labour hours at $2.00 per dire
Treasury management is explained as "the corporate handling of all financial matters, the production of external and internal funds for business, the management of cash flows and c
find full-cost& variable cost using transfer pricing method
QUEUING THEORY When limited facilities fail/delays to satisfy demands made upon them, problems occur which generate queues or waiting lines. Illustrations are: • Customers
what are characteristics of relevant cost?
Explain Short term budgets Short term budgets: these budgets are generally for one or two years and are in the form of monetary terms. The consumer's good industries like su
Pricing is a problem in four general types of situations: 1) When the firm develops or introduces a new product and it is fix the price of the product for the first time. 2)
State the Opportunity cost The net selling price, rental value or transfer value which could be obtained at a point in time if a particular asset or group of the assets were to
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