Answer:
Time needed to complete the 4th unit = 57.80 hours
Explanation:
<u><em>The learning curve theory</em></u><em> states that as the cumulative output doubles the cumulative average time taken till date is reduced to a certain percentage of the previous time. This percentage is called learning rate</em>
Total time = Average time × cumulative number of units
The cumulative average time is determined using the formula below:
Y= aX^b
a - time taken for the first unit produced
b = log LR/Log 2
X- cumulative units till date
Y - cumulative average time taken for X units
LR- Learning rate
LR = 68/80 = 0.85 = 85%
<em>Time needed to complete the 4th unit</em>
= Learning rate × time take for the 2 unit
= 85% × 68
= 57.80 hours
Time needed to complete the 4th unit = 57.80 hours
All of the given questions are part of the critical questions that
entrepreneurs need to ask themselves. Being an entrepreneur needs a lot
of thinking and planning and these questions should be taken into
account. Running a business would include the location fit for the type
of business you have, the structure of your business, how you recruit
workers and the incentives you give them, and most importantly, your
capital.
Answer:
1<em>. Emergency surgery is less elastic than cosmetic surgery.</em>
<em>2. A cheeseburger at 2:00 am at a 24 hours restaurant is less elastic than a cheeseburger at 7:00 pm at a 24 hours restaurant.</em>
<em>3. Monthly electricity consumption is less elastic than yearly electricity consumption.</em>
<em>4. The wall street journal is more elastic than wall street journal at the airport.</em>
<em>5. Red cars are less elastic than all cars.</em>
Explanation:
1. Emergency surgery is a necessity and if there is necessity the demand will be inelastic.
2. At 7 pm there are more restaurant open so there will be more offer than 2 am, so if there is more offer the demand is more elastic.
3. Monthly electricity consumption is less elastic because, electricity tend to increase in long run because consumer have more time to adjust their behavior.
4. To buy wall street journal there are few places and less time in the airport than in other places to buy so demand will be less elastic.
5. If there are few substitute only red cars demand will tend to be inelastic. on the contrary, if there are more substitutes (any color car), the demand for the good will be elastic and its consumption can be replaced.
Answer:
Find the difference of 67.2 and 23.9.
Explanation:
Answer:
- total product costs incurred to make 27,500 units = $25.10 x 27,500 = $690,250
- total period costs incurred to make 27,500 units = $15.10 x 27,500 = $415,250
- total product costs incurred to make 31,000 units = $25.10 x 31,000 = $778,100
- total period costs incurred to make 24,000 units = $15.10 x 24,000 = $362,400
Explanation:
Average Cost per Unit
- Direct materials $8.90
- Direct labor $5.90
- Variable manufacturing overhead $3.40
- Fixed manufacturing overhead $6.90
- Fixed selling expense $5.40
- Fixed administrative expense $4.40
- Sales commissions $2.90
- Variable administrative expense $2.40
Product costs include direct labor, direct materials, production supplies, and factory overhead. Product costs per unit = $8.90 + $5.90 + $3.40 + $6.90 = $25.10
Period costs include selling and administrative expenses. Period costs per unit = $5.40 + $4.40 + $2.90 + $2.40 = $15.10
