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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 305 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) a) Setup cost $ (round your response to two decimal places). b) Setup time= $60.00 per hour $19 per unit 1,040 units/day 30,500 (305 days x daily demand of 100 units) Q = 260 units minutes (round your response to two decimal places).

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 305 days. Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) a) Setup cost $ (round your response to two decimal places). b) Setup time= $60.00 per hour $19 per unit 1,040 units/day 30,500 (305 days x daily demand of 100 units) Q = 260 units 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
Section: Chapter Questions
Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...
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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 305 days. a) Setup cost= b) Setup time = Setup labor cost Annual holding cost $60.00 per hour $19 per unit 1,040 units/day 30,500 (305 days x daily demand of 100 units) Q = 260 units Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) (round your response to two decimal places). minutes (round your response to two decimal places).
Transcribed Image Text: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 305 days. a) Setup cost= b) Setup time = Setup labor cost Annual holding cost $60.00 per hour $19 per unit 1,040 units/day 30,500 (305 days x daily demand of 100 units) Q = 260 units Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) (round your response to two decimal places). minutes (round your response to two decimal places).
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