Question: B what is the setup time Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a

B what is the setup time Rick Wing has a

B what is the setup 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 $60.00 per hour Annual holding cost $20 per unit Daily production (8 hours) 960 units/day Annual demand for steering wheels 34,800 (290 days x daily demand of 120 units) Desired lot size (2 hours of production) Q = 240 units a) Setup cost = $ (round your response to two decimal places)

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