Q A shop that makes candles offers a scented candle, which has a monthly demand of 560 boxes. Candles can be produced at a rate of 35 boxes per day. The shop operates 20 days a month. Assume that demand is uniform throughout the month. The setup cost is $64 for a run, and the holding cost is $6 per box on a monthly basis. Determine the economic run size: a. 110 b. 49 c. 245 d. 547

Q) In the basic EOQ model, if annual demand is 125, holding cost is $3.49 (per unit per year), and total inventory related cost on the basis of EOQ is $330, the EOQ(rounded to the next whole number) is: a. 95 b. 165 c. 9 d. 62

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