$16$ Homework

Question $5,$

$12$ times per year. He has Carol Cagle has a repetitive manufacturing plant producing trailer hitches in Arlington, Texas. The plant has an average safety chain clip: therefore determined that he will reduce his component lot sizes. He has developed the following data for one component

$\backslash$table$[[$Setup labor cost,$$20$ per hour$],[$Annual holding cost,$$12$ per unit$],[$Daily production,$976$ units$/8$ hour day$],[$Annual demand, days each $$ daily demand of $120$ units$)],[$Desired lot size,$122$ units $($one hour of production$)]]$

To obtain the desired lot size, the set$-$up time that should be achieved $=$ minutes $($round your response to two decimal places$).$