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A toy manufacturer uses 51,030 rubber wheels per year for its popular dump truck series. The firm makes its own wheels, which it can produce
A toy manufacturer uses 51,030 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 $1.50 per wheel per year. Setup cost for a production run is $47. The firm operates 243 days per year. Determine the following: a. Optimal run size (Round your answer to a whole number, following normal rules of rounding.) Answer is complete but not entirely correct. b. Use your final answer from part a to determine minimum total annual cost for carrying and setup. (Round your answer to a whole number.) Answer is complete but not entirely correct. c. Cycle time for the optimal run size (Round your answer to two decimal points.) Answer is complete but not entirely correct. d. Run time (Round your answer to two decimal points.)
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