Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare f

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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 295 days.
Setup labor cost
​$60.00
Annual holding cost
​$11
Daily production​ (8 hours)
960
Annual demand for steering wheels
30,975
​(295
days×daily
105
Desired lot size​ (2 hours of​ production)
240
​a) Setup cost​ =