As part of a time study a particular job was analyzed. The study included 20 job cycles and the following cumulative times and performance rating factors for each element were reported: 
Assuming an allowance factor of 20% the standard time for this job would be
Definitions:
Inventory Cost Card
A record-keeping tool that tracks the cost associated with a specific item of inventory, detailing purchases, sales, and adjustments.
Perpetual Inventory System
An inventory management system where updates to inventory records are made in real-time following each sale or purchase transaction.
FIFO
An inventory valuation method that assumes the first items acquired are the first ones sold, standing for First-In, First-Out.
Last-in, First-out
An inventory valuation method where the most recently produced or purchased items are the first to be expensed, often used to manage costs and taxes.
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