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

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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