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 = minutes (round your response to two decimal places). Production order size =Qp=H(1pd)2DS. Rearranging the equation, S=2DQ2H(1pd). Setup cost =$4.36 per order (round your response to two decimal places). Setup time =HourlycostoforderSetupcost1hour60minutes= minutes (round your response to two decimal places)