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.
$$25\begin{array} { | l | l | } \hline \text { Annual demand } & 5000 \\\hline \text { Daily production } & 1000 \\\hline \text { Lot size } & 700 \\\hline \text { Holding cost } & \$ 25 \\\hline\end{array}$

Question

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.

$25\begin{array} { | l | l | } \hline \text { Annual demand } & 5000 \\\hline \text { Daily production } & 1000 \\\hline \text { Lot size } & 700 \\\hline \text { Holding cost } & \$ 25 \\\hline\end{array}

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