A toy manufacturer uses 48000 rubber wheels per year for its popular dump truck series. The firm makes its own wheels, which it can produce at a rate of 800 per day. The toy trucks are assembled uniformly over the entire year. Carrying cost is $1 per wheel a year. Set up cost for a production run of the wheels is $45. The firm operates 240 days per year. Determine the:

a.Optimal run size

b.Total annual cost

c.Cycle time for the optimal run size

d.Run time