Find the setup cost and setup time

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Reference no: EM13778761

Rick wing has a repetitive manufacturing plant producing automobile steering wheels, use the following date to prepare for a reduce lots size , the firm uses a work year of 295 days ;

Setup labor cost per hour = $ 40

Annual Holding cost per unit year = $ 13

Daily production ( 8 hours) = 800 units / day

Annual Demand = 30,975 (295 days each * daily demand of 105)

Desired lot size (2 hour or production) = 200 units

Find;

a. setup cost ?

b. setup time?

Reference no: EM13778761

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