Question: Problem 16.2 Question Help Given the following information about a product, at Michael Gibson's firm, what is the appropriate setup time? Setup labor cost $40.00

Problem 16.2 Question Help Given the following information about a product, at Michael Gibson's firm, what is the appropriate setup time? Setup labor cost $40.00 per hour Annual holding cost $16 Daily production 1,200 units/day Annual demand 28,000 (280 days each x daily demand of 100 units) Desired lot size 300 units Setup time-minutes (round your response to two decimal places). per unit

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