Locksmith Inc

question 48

Essay

Locksmith Inc.has an order from a bank for 50 specially designed safes, one for each bank branch.It is estimated that the first safe will require 75 hours of shop time and a 90% 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:

Errorless Learning

A teaching method that prevents or substantially reduces the chance of making mistakes during the learning process, often used in rehabilitation of individuals with memory impairments.

Compensatory Strategies

Techniques used to overcome deficits or difficulties in specific areas, such as memory aids for individuals with cognitive impairments.

Delirium

An acute and often fluctuating mental disorder characterized by confusion, disturbed concentration, and cognitive dysfunction.

Conservatorship

A legal concept where a court appoints an individual or organization to manage the financial and personal affairs of another due to physical or mental limitations.