Jay Bole Is in the Process of Developing a Standard

question 101

Multiple Choice

Jay Bole is in the process of developing a standard for the labour cost of one unit of Product X. According to the design manual, it takes a skilled worker 30 minutes to produce one unit of Product X when the workshop is operating at peak condition. However, Product X is quite complex and even a skilled worker operating in high efficiency often needs another 5 minutes to adjust the tools, re-oil the machine and rework some aspects of the product. A skilled worker is paid $30 per hour, while the company pays 20 per cent on-costs on top of this.
Jay decides to develop a perfection standard. The standard labour cost for one unit of Product X is

• A) $15.
• B) $17.50.
• C) $18.
• D) $21.

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Definitions:

Single-Entry System

An accounting method where each financial transaction is recorded with only one entry, making it simpler but less detailed than double-entry systems.

Accounting Program

An educational curriculum designed to prepare students for careers in financial reporting, auditing, tax, and management accounting.

Poorly Programmed Software

Software that contains flaws or errors due to inadequate development practices, leading to performance issues or vulnerabilities.

Personnel Problems

Issues or conflicts arising among staff members within an organization, impacting performance and morale.