A home builder needs to schedule labor for the construction of 24 homes in a subdivision. In the past the builder has noted a 90% learning rate. If the first home requires 2000 labor hours to build, estimate the time required to build: a. The 4th house b. The 15th house c. All 24 houses

A home builder needs to schedule labor for the construction of 24 homes in a subdivision. In the past the builder has noted a 90% learning rate. If the first home requires 2000 labor hours to build, estimate the time required to build: a. The 4th house b. The 15th house c. All 24 houses

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Sample Exercise opens EA2. Rene is working with the operations manager to determine what the standard labor cost is for a spice chest. He has watched the process from start to finish and taken detailed notes on what each employee does. The first employee selects and mills the wood, so it is smooth on all four sides. This takes the employee 1 hour for each chest. The next employee takes the wood and cuts it to the proper size. This takes 30 minutes. The next employee assembles and sands the chest. Assembly takes 2 hours. The chest then goes to the finishing department. It takes 1.5 hours to finish the chest. All employees are cross-trained so they are all paid the same amount per hour, $17.50. A. What are the standard hours per chest? B. What is the standard cost per chest for labor?
Rene is working with the operations manager to determine what the standard labor cost is for a spice chest. He has watched the process from start to finish and taken detailed notes on what each employee does. The fırst employee selects and mills the wood, so it is smooth on all four sides. This takes the employee 1 hour(s) for each chest. The next employee takes the wood and cuts it to the proper size. This takes 32 minutes. The next employee assembles and sands the chest. Assembly takes 3 hour(s). The chest then goes to the finishing department. It takes 3 hour(s) to finish the chest. All employees are cross-trained so they are all paid the same amount per hour, $18.62. What is the standard cost per chest for labor? Round to the nearest penny, two decimal places.
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