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A produce distributor uses 774 packing crates a month, which it purchases at a cost of $12 each. The manager has assigned an annual carrying cost of 34 percent of the purchase price per crate. Ordering costs are $29. Currently the manager orders once a month. How much could the firm save annually in ordering and carrying costs by using the EOQ? (Round intermediate calculations and final answer to 2 decimal places. Omit the "$" sign in your response.)

Savings = $_______ per year

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Operation Management, Management Studies

Category:- Operation Management
Reference No.:- M92528026

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