Timcee Pty Ltd is an infant company in the construction sector where it provides skilled labour to the building trade. They have recently got a contract to bid for fitted wardrobes for a new development of 600 identical flats. The information about the new contract is as follows: Timcee predicts that the first wardrobe will take 24 hours to fit but thereafter the time taken will be subject to a 95% learning rate. After 200 wardrobes are fitted the learning rate will stop and the time taken for the 200th wardrobe will be the time taken for all the remaining wardrobe. Labour costs R15 per hour. Overheads are absorbed on a labour hour basis. The overhead information of Timcee has been collected for the last four months and is shown below Hours Overhead Worked Cost September 9300 R 115000 October 9200 R 113600 November 9400 R 116000 December 9600 R 116800 Total labour hours adds up to 12 000 hours a year. Calculate the total cost, including all overheads that Timcee Pty Ltd can use as a basis of the bid for the new apartment contract. Round your b (the learning coefficients) to the nearest three decimal places and all other values to two decimal places.
Timcee Pty Ltd is an infant company in the construction sector where it provides skilled labour to the building trade. They have recently got a contract to bid for fitted wardrobes for a new development of 600 identical flats. The information about the new contract is as follows:
Timcee predicts that the first wardrobe will take 24 hours to fit but thereafter the time taken will be subject to a 95% learning rate. After 200 wardrobes are fitted the learning rate will stop and the time taken for the 200th wardrobe will be the time taken for all the remaining wardrobe. Labour costs R15 per hour.
Hours Overhead
Worked Cost
September 9300 R 115000
October 9200 R 113600
November 9400 R 116000
December 9600 R 116800
Total labour hours adds up to 12 000 hours a year.
Calculate the total cost, including all overheads that Timcee Pty Ltd can use as a basis of the bid for the new apartment contract.
Round your b (the learning coefficients) to the nearest three decimal places and all other values to two decimal places.
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