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17. One of the traditional reasons for holding inventory is to minimize total carrying costs...

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Accounting

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17. One of the traditional reasons for holding inventory is to minimize total carrying costs and setup costs. The JIT solution is to a. reduce setup costs. b. reduce lead time. c. use total preventive maintenance. d. use total quality control. Figure 2 Hapsburg Manufacturing purchases components produced by Little Company in the manufacture of its main product. For the next year, Hapsburg expects to use a total of 20,000 parts. Hapsburg typically orders 2,000 units at a time. The cost of placing an order is GHS100, and the average annual cost of carrying one unit of inventory is GHSS. 18. Refer to Figure 2. Hapsburg's total ordering cost is a. GHS1.000. . GHS5,000. c. GHS10,000 d. GHS500. Figure 3 Cozy Stoves produces wood-burning stoves. In order to produce the frames for the stoves, special equipment must be set up. The setup cost per frame is GHS40. The cost of carrying frames in inventory is GHSS per frame per year. The company produces 100,000 stoves per year. 19. Refer to Figure 3. Cozy Stoves total carrying costs associated with the economic order quantity a. GHS3,612. b. GHS3,162 c. GHS506 d. GHS316. are

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