As Part of a Time Study a Particular Job Was

question 23

Multiple Choice

As part of a time study a particular job was analyzed. The study included 20 job cycles and the following cumulative times and performance rating factors for each element were reported: Assuming an allowance factor of 20% the standard time for this job would be

• A) 10.08 minutes.
• B) 12.10 minutes.
• C) 14.73 minutes.
• D) 16.58 minutes.

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Definitions:

Economic Order Quantity

A calculation used to determine the most cost-effective quantity of stock to order, balancing ordering costs with stock holding costs.

Acquisition Cost

The total expense incurred to acquire an asset, including the purchase price and all related costs.

Inventory Stock

Goods or materials that a business holds for the ultimate goal of resale.

Reorder Point

The inventory level at which action is taken to replenish a particular stock item, ensuring adequate supply while minimizing holding costs.