Question: Given the following information about a product, at Phyllis Simons firm, what is the appropriate setup time? Annual demand=39,000 Daily demand=150units Daily production=1,000units Desired lot

Given the following information about a product, at Phyllis Simon’s firm, what is the appropriate setup time?

Annual demand=39,000

Daily demand=150units

Daily production=1,000units

Desired lot size=150units

Holding cost per unit per year=$10

Setup labor cost per hour=$40


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