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Choose the most appropriate answer to complete the sentence provided below. Flexible Manufacturing Systems (FMS) are production systems that take advantage of part similarities according to design and production processing required because of the design to group process equipment accordingly. specialize in the production of one list of parts and co-operate in the completion of common task. are production systems that can react to needed changes, whether predicted or unpredicted, often relative to market conditions, and due to changes in order quantity or product variety. utilizes a mixed coding format. This coding scheme consists of a Form code and Supplementary code. The form code can represent parts of the following variety: long, short, cubic, flat, rotational, and/or etc. A manufacturer produces bicycles. Special screws are produced within the plant. Four special screws are necessary for each bicycle. A total of 1200 bicycles are made each year; the total set-up cost for machinery is $15, while the storage cost is 10% of the screw's cost of $0.30. There are 240 working days per year, and 960 screws per day can be made ( 2 screws per minute X 60 minutes X8 hours). Calculate the EOQ assuming instantaneous receipt. 960 screws per day 20 Screws per day 4 days running the screw machine 2.19 days running the screw machine