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 295 days. Setup labor cost $60.00 per hour Annual holding cost $17 per unit Daily production (8 hours) 1 comma 040 units/day Annual demand for steering wheels 30 comma 975 (295 daystimesdaily demand of 105 units) Desired lot size (2 hours of production) Q = 260 units a) Setup cost = $ 16.70 (round your response to two decimal places). b) Setup time = 16.7 minutes (round your response to two decimal places).
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Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the followi...
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