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Given the following information about a product, at Michael Gibson's firm, what is the appropriate setup time? Setup labor cost Annual holding cost Daily

Given the following information about a product, at Michael Gibson's firm, what is the appropriate setup time? Setup labor cost Annual holding cost Daily production Annual demand Desired lot size = Setup time minutes (round your response to two decimal places). $40.00 per hour $13 per unit 1,000 units/day 28,000 (280 days each x daily demand of 100 units) 150 units

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