Given the following information about a product, at Phyllis Simons firm, what is the appropriate setup time?
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Given the following information about a product, at Phyllis Simon’s firm, what is the appropriate setup time?
Annual demand = 39,000 units
Daily demand = 150 units
Daily production = 1,000 units
Desired lot size = 150 units
Holding cost per unit per year = $ 10
Setup labor cost per hour = $ 40
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