Scenario 4.3 A Job Consists of Three Elements.Twenty Observations for Each Element

question 135

Multiple Choice

Scenario 4.3
A job consists of three elements.Twenty observations for each element were timed,and the resulting data are shown in the following table.A performance rating has also been assigned for each element,as shown in the table.The job has an allowance of 15% of normal time.

-Use the information in Scenario 4.3.What is the normal time for job element #3?

• A)greater than or equal to 3 minutes
• B)less than 3 minutes but greater than or equal to 2.6 minutes
• C)less than 2.6 minutes but greater than or equal to 2.2 minutes
• D)less than 2.2 minutes

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Definitions:

Operating Expenses

Costs associated with the day-to-day operations of a business, excluding the costs of producing goods sold (COGS); includes expenses like rent, utilities, and salaries.

Depreciation Expense

The systematic allocation of the cost of a tangible asset over its useful life, reflecting the consumption or wear and tear of the asset.

Financial Statement

A formal record of the financial activities and position of a business, person, or other entity, often assessed for financial health and performance.

Goodwill

An intangible asset that arises when a business is acquired for more than the fair value of its identifiable net assets.