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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 production

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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 production Annual demand Desired lot size $40.00 per hour $29 per unit 1,000 units/day 40,500 (270 days each x daily demand of 150 units) 300 units Setup time minutes (round your response to two decimal places)

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