Question: Part b) Setup time = _______ minutes (round your response to two decimal places). Rick Wing has a repetitive manufacturing plant producing automobile steering wheels.

Part b) Setup time = _______ minutes (round your response to two decimal places).

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 $17 per unit Annual holding cost Daily production (8 hours) 1,040 units/day Annual demand for steering wheels Desired lot size (2 hours of production) 30,500 (305 days x daily demand of 100 units) Q = 260 units a) Setup cost = $ (round your response to two decimal places)

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