Math Solutions

[Steps Shown] Given the following information about a product, at Phyllis Simon's firm, what is the appropriate setup time? \text Annual demand =39,000

Question: Given the following information about a product, at Phyllis Simon's firm, what is the appropriate setup time?

\(\begin{aligned} \text { Annual demand } &=39,000 \text { units } \\ \text { Daily demand } &=150 \text { units } \\ \text { Daily production } &=1,000 \text { units } \\ \text { Desired lot size } &=150 \text { units } \end{aligned}\)

Holding cost per unit per year \(=\\) 10$

Setup labor cost per hour \(=\\) 40$

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