The time to assemble the first unit on a production line is 17 hours. The learning rate is 0.89. Approximately how long will it take for the seventh unit to be assembled? The number of hours needed for the seventh unit to be assembled is hours. (Round to one decimal place.)

The time to assemble the first unit on a production line is 17 hours. The learning rate is 0.89. Approximately how long will it take for the seventh unit to be assembled? The number of hours needed for the seventh unit to be assembled is hours. (Round to one decimal place.)

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter21: Production And Costs

Section21.4: Costs Of Production: Total, Average, Marginal

Problem 1ST

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Concept explainers

Cost of Production

In economic theory, production costs are the costs incurred by an industrial organization when it engineers a project or provides a service that generates revenue and benefits. Labor costs, raw materials, consumable manufacturing costs, and general overhead sum up, accounting for production costs. Total cost data is calculated by combining total direct costs of materials, labor costs, and total production costs.

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The time to assemble the first unit on a production line is 17 hours. The learning rate is 0.89. Approximately how long will it take for the seventh unit to be assembled?
The number of hours needed for the seventh unit to be assembled is
hours. (Round to one decimal place.)

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Total cost = $4500 fixed costs = $2000 variable cost = ?
What is the formulae used to find unit cost?
SOLVE STEP BY STEP IN DIGITAL FORMAT The company Cielito S.A. It manufactures clothing for older adults and has a large presence in Mexico, due to the comfort and good taste of its garments. It has 60 seamstresses who work 8 hours a day; Indirect manufacturing expenses are $9,500.00 MXN. Every day Cielito S.A. produces 1,500 garments. The cost per hour of labor is $55.00 MXN. With this data, you must calculate: a. Labor or labor productivity. b. The productivity of manufacturing indirect expenses. c. The total productivity of Cielito S.A.