b) Boltz is a bolt and nut manufacturer. In one of the production line, Boltz produces 4 sizes of bolts, namely M20, M30, M40 and M50. The average monthly demand is 2,000 boxes, 3,000 boxes, 4,000 boxes and 6,000 boxes respectively. Each time a different product is required to be produced, a set-up time is necessary which costs the company RM100/hour and the annual holding cost is RM0.50/box. The respective production rate and set-up time are shown in Table Q2 (c). Boltz operates at 8 hours a day, 5 working days per week and 50 weeks per year. Set-up time (hours) Product Production rate per day M20 1000 4 M30 1000 4 M40 800 2 M50 800 2 Table Q2 (c) i) Calculate the ideal cycle time (in days) per production cycle based on minimum variable costs per unit time to produce these four products. (8 marks) ii) Hence calculate corresponding batch quantity and production time for each product. (4 marks) iii) Sketch a Quantity against Time graph to represent this production cycle for the products. Label all timing along the time axes. Include the ideal cycle time and idle time. (5 marks) iv) From historical data, it shows that the production efficiency is only 97%. Is this ideal cycle time feasible? Explain. (2 marks) [Total: 25 marks]