A Methods and Measurements Analyst Needs to Develop a Time

question 18

Essay

A Methods and Measurements Analyst needs to develop a time standard for a certain task.The task involves use of a ruler,square,and portable electric saw to mark and cut the "notch" in a rafter (a standard carpentry task of home construction).In a preliminary study,he observed one of his workers performing this task five times.The observations were made in an air-conditioned,well-lit training facility,at ground level,with all tools and equipment clean and readily available.
a.What is the actual average time for this task?
b.What is the normal time for this task if the employee worked at a 20% faster pace than is typical for adequately trained workers?
c.What is standard time for this task if allowances sum to 14%?
d.If the analyst then thought more carefully about his experiment and decided that the allowances needed to be increased to match the real (outside,not air-conditioned)work environment,and that the proper allowance was not 14% but 20%,what is the revised standard time?

Analyze and interpret comparative income statements for decision-making.

Understand the concept of fixed, variable, and mixed costs and their behavior as activity levels change.

Apply cost formula to predict total cost at different activity levels.

Calculate the break-even point and contribution margin for business operations.

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Definitions:

Intrastate Exemption

Refers to exceptions within state regulations that allow certain activities to occur without needing to comply with broader federal laws or regulations.

SEC

The Securities and Exchange Commission, a U.S. federal agency responsible for enforcing federal securities laws, regulating the securities industry, and overseeing the nation's stock and options exchanges.

1934 Act

The Securities Exchange Act of 1934, which governs the trading of securities, such as stocks and bonds, in the U.S.

Proxy Solicitations

The process of gathering votes or consents from shareholders by a party seeking to influence decisions or actions within a company, often related to corporate governance issues.