Reduce Setup TimeVernon Inc. has analyzed the setup time on its computer$-$controlled lathe. The setup requires changing the type of fixture that holds a part. The average setup time has been $140$ minutes, consisting of the following steps:Line Item DescriptionMinutesTurn off machine and remove fixture from lathe$15$ minutesGo to tool room with fixture$15$Record replacement of fixture to tool room$18$Return to lathe$20$Clean lathe$20$Return to tool room$20$Record withdrawal of new fixture from tool room$12$Return to lathe$15$Install new fixture and turn on machine$5$Total setup time$140$ minutesa. A company plans to setup a machine to increase the productivity. The average setup time is $140$ minutes. Do you think the management needs to minimize the setup time. Identify the reason that supports the answer.a$.$ Yesb. NoabReason:a$.$ The setup time is not a concern of the company as it is not related to productivity of the company.b$.$ The setup time should be considered because long setup time leads to increased economic cost of the setup.c$.$ The cost incurred for setup can be ignored as it is related to machinery.d$.$ Long setup cost can be recovered as depreciation.abcdb.A company plans to setup a machine to increase the productivity. The average setup time is $140$ minutes. The company wishes to control the setup time. Identify the statement that suits the given situation.a$.$ Identify the wait time and non$-$value$-$added time and eliminate that with effective planning so that the setup time can be reduced.b$.$ Identify the machine that has less setup time.c$.$ Identify the laborers are contributing less to the setup process and eliminate them from the process.d$.$ None of the above.abcdc. $$How much time would be required for a setup, using your suggestion in $($b$)?$fill in the blank $1$ of $1$$ minutes