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Five jobs are waiting for processing through two work centers. Their processing time (in minutes) at each work center is contained in the table below. Each job requires work center Alpha before work center Beta. According to Johnson's rule, what is the optimum sequence of jobs and the minimum time for completion of all jobs?
AVC (Average Variable Cost)
The cost of labor, materials, and other variable expenses divided by the quantity of output produced, excluding fixed costs.
AFC (Average Fixed Cost)
The fixed costs (expenses that do not change with the level of production) divided by the quantity of goods or services produced, typically decreasing as production increases.
Marginal Cost
The cost increase that comes with producing an additional unit of a product or service.
Marginal Revenue
The heightened income realized from the sale of one more unit of a good or service.
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