Each Year You Sell 3,000 Units of a Product at a Price

question 52

Multiple Choice

Each year you sell 3,000 units of a product at a price of $29.99 each. The variable cost per unit is $18.72 and the carrying cost per unit is $1.43. You have been buying 250 units at a time. Your fixed cost of ordering is $30. What is the economic order quantity?

• A) 329 units
• B) 338 units
• C) 342 units
• D) 355 units
• E) 367 units

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Definitions:

Array Name

The identifier used to refer to a contiguous block of memory locations that store elements of the same data type.

Address

A numerical representation used to locate a specific byte or word in memory, essential for data storage and retrieval operations.

Pointer Access

The act of using a pointer to read or modify the value of the variable it points to.

Subscript Notation

A method of accessing particular elements of an array or list by using an index enclosed in brackets.