Question: Essay 3 JIT Setup Cost/Time (20 points). Suppose that Catherine, a production manager, is trying to run JIT. The product Annual Demand is 300,000 units,

Essay 3 JIT Setup Cost/Time (20 points). Suppose that Catherine, a production manager, is trying to run JIT. The product Annual Demand is 300,000 units, with 300 working days in a year. Her production line can produce 2000 units per day. Cathy's desired lot size (Q) is 200. Assume holding cost is $50/unit. Show your math work for this problem. 3a) Calculate the Setup Cost, S, for one setup. (8 points) 3b) Assume that one worker does the setup, and they get paid $20/hour. How long should it take to do one setup, in minutes? (6 points) 3c) Suppose that the setup worker only has 30 minutes per day available to do setups. Given daily demand and Q, will your answer from b) be more than they have available? (6 points)

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