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What is the setup cost

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Reference no: EM131152257

Problem: Use the following data to prepare for a reduced lot size. The firm uses a work year of 305 days.

Annual demand for steering wheels

30,500

Daily demand

100

Daily Production (8 hours)

800

Desired Lot Size (2 hours of production)

200

Holding cost per unit per year

10
  • What is the setup cost, based on the desired lot size?
  • What is the setup time, based on $40 per hour setup labor?

Reference no: EM131152257

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