A shop that makes candles offers a scented candle which has, Ask an Expert

Management Studies

A shop that makes candles offers a scented candle, which has a monthly demand of 366 boxes. Candles can be produced at a rate of 34 boxes per day.

The shop operates 20 days a month. Assume that demand is uniform throughout the month. Setup cost is $52 for a run, and holding cost is $1.96 per box on a monthly basis.

What is the Economic Production (run) Quantity?

A useful note: EPQ formula gives the optimal production quantity during a cycle. Once you have the EPQ, you can use it to calculate Run time, Max inventory, etc.

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Marketing Management, Management Studies

Category:- Marketing Management
Reference No.:- M92628819

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