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 $50.00

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 $50.00 per hour Annual holding cost $21 per unit Daily production 1,000 unitsday Annual demand 43,500 (290 days each daily demand of 150 units) Desired lot size 150 units Setup time = minutes (round your response to two decimal places)

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