A Time Study of a Job Produced the Following: Average

question 29

Essay

A time study of a job produced the following: average cycle time = 1.5 minutes, performance rating = 1.15. Allowances are 18 percent of the workday (480 minutes). Determine the standard time for this job.

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Definitions:

Net Income

The total profit of a company after all revenues and gains are accounted for and all expenses and losses are deducted.

Direct Expense

Costs that can be directly traced to a specific product, service, or department, and is a key factor in the cost of goods sold.

Indirect Expense

Costs that are not directly attributable to a specific cost object, such as a product or service.

Insurance

A contractual arrangement that provides financial protection or reimbursement against losses from an insurance company.