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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 practical standard. The standard labour cost for one unit of Product X is
Rights
Entitlements or permissions, either legal, social, or moral, that individuals are given based on certain principles or standards.
Ethical Dilemma
A situation where a person faces a choice between two actions that are ethically challenging or conflict with moral imperatives.
Steal
The act of taking someone else's property without permission or legal right and with no intention of returning it.
Company
A legal entity formed by a group of individuals to engage in and operate a business commercial or industrial enterprise.
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