2. An executive receives an annual salary of P500,000 and hissecretary a salary of P160,000 a year. A certain task can beperformed by the executive, working alone, in 4 hours. If hedelegates the task to his secretary it will require him 30 minutesto explain the work and another 45 minutes to check the finishedwork. Due to the unfamiliarity of the secretary to do the task ittakes her an additional time of 6 hours after being instructed.Considering salary cost only, determine the cost of performingthe task by each method. If the secretary works 2,400 hours ayear and the executive 3,000 hours a year.

Annual salary of executive= P 500,000 No. of hours worked by executive in a year= 3,000 Salary cost…

Answered: An executive receives an annual salary…

Essentials Of Investments

11th Edition

ISBN:9781260013924

Author:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Publisher:Bodie, Zvi, Kane, Alex, MARCUS, Alan J.

Chapter1: Investments: Background And Issues

Section: Chapter Questions

Problem 1PS

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