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Economic Order Quantity
This constitutes the quantity purchased of either raw materials or stocks which is considered most optimum. It is the quantity such minimizes both ordering costs and holding costs, like the quantity of purchase rises there is a reduction in ordering costs, however a raise in holding costs as demonstrate in the graph below as:
Net cost = Net ordering costs + Net holding costs
Net ordering costs = cost per order X no of orders in a period
Net holding cost = average stock quantity X holding cost per unit
Co-ownership incentive scheme or Profit Sharing Schemes The organization permits for ownership whereby the employees are permitted to own a percentage of the shares in the fir
for the year ended31st dec 2008manufacturing accountshowing costof row material,manufacturing expenses and the cost of goods manufactured& tradind account where stock of row mater
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