Rick Wing has a repetitive manufacturing plant producing automobile steering wheels. Use the following data to prepare for a reduced lot size. The firm uses a work year of 305 days = Setup labor cost Annual holding cost Daily production (8 hours) Annual demand for steering wheels Desired lot size (2 hours of production) a) Setup cost $(round your response to two decimal places). N b) Setup time minutes (round your response to two decimal places) $40.00 per hour $12 per unit 960 units/day 30,500 (305 days x daily demand of 100 units) Q-240 units