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Hackett Co. uses an EOQ model to determine its purchase quantities for the year. The following information is available: annual demand 40,000 units of material; cost of placing an order $20; cost of carrying the material in inventory $10 per unit. The material costs $100 per unit.
-What is the number of orders that need to be placed and the annual holding cost (round to nearest whole number)?

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The Answer of Use the following to answer questions:
Hackett Co. uses an EOQ model to determine its purchase quantities for the year. The following information is available: annual demand 40,000 units of material; cost of placing an order $20; cost of carrying the material in inventory $10 per unit. The material costs $100 per unit.
-What is the number of orders that need to be placed and the annual holding cost (round to nearest whole number)?

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