Carol Cagle has a repetitive manufacturing plant producing trailer hitches in Arlington, Texas. The plant has an average inventory turnover of only 12 times per year. He has therefore determined that he will reduce his component lot sizes. He has developed the following data for one component, the safety chain clip: To obtain the desired lot size, the set-up time that should be achieved = Setup labor cost Annual holding cost Daily production Annual demand Desired lot size $30 per hour $15 per unit 1,008 units/8 hour day 23,000 (250 days each x daily demand of 92 units) 126 units (one hour of production) minutes (round your response to two decimal places).