Question: b. set up time = Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a reduced

b. set up time = Rick Wing has a repetitive 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 290 days. Setup labor cost $40.00 per hour Annual holding cost $19 per unit Daily production (8 hours) 1,040 units/day Annual demand for steering wheels 29,000 (290 days x daily demand of 100 units) Desired lot size (2 hours of production) Q = 260 units a) Setup cost = $ (round your response to two decimal places)

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