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Labor Cost for Set-Up Is $500/hour

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Labor cost for set-up is $500/hour. If the plant plans on level material use and operates 50 days per year, determine the time it takes to setup.
 Annual demand 5000 Daily production 1000 Lot size 700 Holding cost $25\begin{array}{|l|l|}\hline\text { Annual demand } & 5000 \\\hline \text { Daily production } & 1000 \\\hline \text { Lot size } & 700 \\\hline \text { Holding cost } & \$ 25 \\\hline\end{array}

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