The Ozzie Chocolate Company has a division that makes different types of dark chocolate candy. One of the products is dark chocolate squares. The demand for these chocolate squares is 48260 pounds per year. This particular division operates 250 days per year and the production line can make up to 411 pounds per day of dark chocolate squares. The cost to setup the line for a production run is $3763 per run. Annual holding costs for this type of candy are $2 per pound.
What is the economic production quantity (EPQ)?
Your answer should contain three (3) decimal places. Do not round any intermediate calculations.
What is the maximum inventory level of this product?
Your answer should contain three (3) decimal places.
What is the length in days of a production run?
Your answer should contain three (3) decimal places.
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