Use this problem statement to answer the following three que…
Use this problem statement to answer the following three questions. In a sequential batch-processing operation, the starting workpiece costs = $10.00 each. Batch quantity = 100. The actual time in the processing operation = 7.22 min. Time to load and unload each workpiece = 3.0 min. Cost of the tooling = $6.00, and each tool must be changed every 50 pieces. Tool change time = 2.5 min. Setup time for the batch = 2.5 hr. Hourly wage rate of the operator = $18.00/hr, and the applicable labor overhead rate = 40%. Hourly equipment cost rate = $42.00/hr, which includes overhead. Assume availability = 100% and scrap rate = 0.