The Unit Improvement Factor for a 60 Percent Learning Curve

question 40

True/False

The unit improvement factor for a 60 percent learning curve at 25 units is 0.0933. The first and second timings of a person doing a job are 10 minutes and 6 minutes, respectively. The learning-adjusted time estimate for the unit number 25 is 0.9330 minute.

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Land Account

An account used in accounting to record the cost of land owned by a company. It includes the purchase price and any additional costs incurred to prepare the land for use.

Fair Value

The price at which an asset would be bought or sold in an orderly transaction between market participants at the measurement date.

Unamortized Patent

The portion of a patent's cost that has not yet been expensed in the income statement over the patent's useful life.

Land Account

An account used in accounting to track the investment in land owned by an entity, including the costs associated with acquiring the land.