Labor cost for set-up is $500/hour. If the plant plans on level material use and operates 50 days per year, determine the time it takes to setup
Annual demand 5000
Daily production 1000
Lot size 700
Annual holding cost per unit $25
S = Q^2 ? H ? (1 - d/p)/(2D) = 700^2 ? 25 ? (1 - 5000/50/1000 )/(2 ? 5000 ) = $1102.5
$1102.5/$500 = 2.205 hours
Business
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What will be an ideal response?
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