Please answer the question below fully and include excel spreadsheet if used to find answer. There is no additional information except for what is stated in the question below. The correct answer will receive a thumbs up.

A process has the characteristics shown in the table below. The desired lot size is the daily usage where usage only occurs during operating days found by dividing Annual Demand by operating days per year. The machine making the part can make 100 per hour once it is setup. The numbers are based on the factory operating basically 7 days a week for 52 weeks minus 12 paid holidays for two 8 hour shifts of which 16.25 hours a day are actually worked on average.

Annual Demand	Operating Days	Desired Lot Size	Holding Cost per Unit per yr
54500	300	Daily Usage	30.00

1. How many hours a year is the plant doing work on product?
2. What is the setup cost for this production process that supports the desired lot size as the best economic lot size?
3. Based on a setup cost of 80.00 per hour, what is the setup time in minutes (decimal fraction okay) for the process?
4. Under consideration is a change of the workweek from 7 days to 5.5 days, half days every Friday. This would mean about 50 weeks of work a year averaging 5.5 days each week of 2 shifts a day. Annual demand would remain the same but daily demand would clearly increase. How many days a year is the plant now operating?
5. Based on daily demand increasing based on this new work schedule what setup time is now needed to support the lot size of daily usage as the best economic option? Note the average of 5.5 days a week would be implemented by shutting the factory down on alternating Fridays.