What is the appropriate setup time

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Reference no: EM131767307

Given the following information about a product, at Michael Gibson's firm, what is the appropriate setup time?

Setup labor cost$45.00per hour

Annual holding cost $20per unit

Daily production1,000units/day

Annual demand 27,000?(270 days eachtimes ×daily demand of 100 units)

Desired lot size 300 units

Setup time = ___ minutes ?(round your response to two decimal places).

Reference no: EM131767307

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