Four Friends {Joe , Tim , Sam , and Ron

question 33

Essay

Four friends {Joe , Tim , Sam , and Ron } have decided to divide up a multi-flavored cake which was jointly purchased for $24 . The cake is divided into four pieces { s1 , s2 , s3 , and s4 } . The following table gives the dollar value of each of the slices according to e3ach of the four friends .

Which of the four slices are considered fair shares according to Ron?

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Definitions:

Actual Costs

The incurred expenses that a company has paid for manufacturing, operating, or producing goods and services.

Direct Labor Cost

The total cost of all the labor work directly involved in the production of goods or services.

Work in Process Inventory

Partially completed goods that are still in the production process at the end of a period.

Direct Labor-Hours

The cumulative hours that employees engaged in the creation of products or services dedicate to their work.