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(Solved): A food processor purchases corn for use in its products. The firm uses 650 pounds of corn per week a ...



A food processor purchases corn for use in its products. The firm uses 650 pounds of corn per week and purchases corn for $0.4 per pound from a supplier. Each time the firm orders corn from the supplier, the firm must pay an order processing charge of $46. The firm's annual holding cost percentage is 28%. If the food processor orders 8,450 pounds of corn with each order, what is the sum of the annual holding and ordering costs? Note: Do not round intermediate calculations. Assume there are 52 weeks in a year and round your answer to 2 decimal places.



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