Craig, Inc., has provided the following information for one of its products for each hour of production: Actual velocity: 100 units (per hour) Move time: 20 minutes Inspection time: 12 minutes Rework time: 12 minutes Required: 1. Calculate MCE. If required, round your answer to two decimal places. 2. What is the theoretical cycle time? Calculate MCE using actual and theoretical cycle times. If required, round your answers to two decimal places. Theoretical cycle time minutes Actual cycle time minutes MCE 3. What if waste is reduced by 40 percent? New waste = minutes What is the new MCE? If required, round your answer to two decimal places. What is the new cycle time? minutes