Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a reduced lot size. The firm uses a work year of 300 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels 30,000 (300 days x daily demand of 100 units) Desired lot size (2 hours of production) Q220 units S60.00 per hour $18 per unit 880 units/day a) Setup cost = $ (round your response to two decimal places) b) Setup time = minutes (round your response to two decimal places).

Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a reduced lot size. The firm uses a work year of 300 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels 30,000 (300 days x daily demand of 100 units) Desired lot size (2 hours of production) Q220 units S60.00 per hour $18 per unit 880 units/day a) Setup cost = $ (round your response

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