Essay
Locksmith Inc. has an order from a bank for 50 specially designed safes, one for each branch. It is estimated that the first safe will require 75 hours of shop time and a 90 percent learning curve is expected. The labor rate is $15.00 per hour and the pricing policy of the company is to triple the labor cost of the order.
a. How many labor-hours should the 50th unit require?
b. How many labor-hours will the whole order require?
c. What is the customer's price for each safe?
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a. Labor-hours for the 50th safe = (75) (0...View Answer
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Correct Answer:
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