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Question Help ▼ 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 300 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) Q = 260 units $60.00 per hour $11 per unit 1,040 units/day 31,500 (300 days x daily demand of 105 units) a) Setup cost = $ 10.61 (round your response to two decimal places). b) Setup time = minutes (round your response to two decimal places).

Question Help ▼ 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 300 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) Q = 260 units $60.00 per hour $11 per unit 1,040 units/day 31,500 (300 days x daily demand of 105 units) a) Setup cost = $ 10.61 (round your response to two decimal places). b) Setup time = minutes (round your response to two decimal places).

Practical Management Science
Practical Management Science
6th Edition
ISBN:9781337406659
Author:WINSTON, Wayne L.
Publisher:WINSTON, Wayne L.
Chapter2: Introduction To Spreadsheet Modeling
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Question Help 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 300 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) Q = 260 units $60.00 per hour $11 per unit 1,040 units/day 31,500 (300 days x daily demand of 105 units) %3D a) Setup cost = $ 10.61 (round your response to two decimal places). b) Setup time = minutes (round your response to two decimal places).
Transcribed Image Text:Question Help 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 300 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) Q = 260 units $60.00 per hour $11 per unit 1,040 units/day 31,500 (300 days x daily demand of 105 units) %3D a) Setup cost = $ 10.61 (round your response to two decimal places). b) Setup time = minutes (round your response to two decimal places).
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