Question: Need help with some homework. a) Set up cost: $____ b)Set up time: $____ Rick Wing has a repetitive manufacturing plant producing automobile steering wheels.

Need help with some homework.

Need help with some homework. a) Set up cost:

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 305 days. Setup labor cost $40.00 per hour Annual holding cost $20 per unit Daily production (8 hours) 800 units/day Annual demand for steering wheels 32,025 (305 days x daily demand of 105 units) Desired lot size (2 hours of production) Q = 200 units

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