5 A company currently using an inspection process in material receiving department is trying to in an overcotection program. One possible reduction is the elimination of one inspection position. This position tests Rams for which the grobability of material defect averages 0.04. By inspecting all to the inspector is able to remove does. The inspector consect 19 unts Der hour The hourly rate including fringe benefits for this position is 58. the inspection position is minted, defects will go to product assembly and will have to be replaced later at a cost of Stoch when they are detected in final product testing Assume that the line will operate at the same rate the spection rates of the notion operation was lite 1. If the inspector position is giminated, what will the hourly cost of defects bel Round your answer to 2 decimal places) 4 Cost per hour -2. Should this inspection position be eliminated based on costs alone! NO Yes b. What is the cost to inspect each unit? (Round your answer to 2 decimal places) Coper c. Is there benefit (or loss) from me current inspection process? How much? input all amounts as positive values Round your answers to 2 decimal places) 2 Hounty Petunit