Question: A) SET UP COST B) SET UP TIME Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare

A) SET UP COST B) SET UP TIME Rick Wing has a A) SET UP COST

B) SET UP TIME

Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a reduced lot size. The firm uses a work year of 295 days. Setup labor cost $40.00 per hour Annual holding cost $10 per unit Daily production (8 hours) 880 units/day Annual demand for steering wheels 29,500 (295 days x daily demand of 100 units) Desired lot size (2 hours of production) Q = 220 units

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