Locksmith Inc

question 22

Essay

Locksmith Inc. has an order from a bank for 50 specially designed safes, one for each branch. It is estimated that the first safe will require 75 hours of shop time and a 90 percent learning curve is expected. The labor rate is $15.00 per hour and the pricing policy of the company is to triple the labor cost of the order.
a. How many labor-hours should the 50th unit require?
b. How many labor-hours will the whole order require?
c. What is the customer's price for each safe?

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Definitions:

Morpheme

The smallest grammatical unit in a language that carries semantic meaning.

Cognition

The mental process of acquiring knowledge and understanding through thought, experience, and the senses.

Introspection

The examination or observation of one's own mental and emotional processes.

Morphemes

The smallest grammatical units in a language that convey meaning or grammatical function.