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. a) Setup cost = $ (round your response to two decimal places). b) Setup time = minutes (round your response to two decimal places). To obtain the desired lot size, the set-up cost that should be achieved is: S=2DQ2H(1pd), where D is annual demand, Q is desired lot size in units per 2 hours of production, H is annual holding cost, d is demand per working day, and p is the daily production rate