Your company is making experimental turbochargers for a new design of high-powered farm tractors.The production schedule for these new components is contained in the table below.
The first turbocharger,a trial unit,took 900 hours to produce.Based on your experience with similar products,the learning factor is 85%.You have 20 employees,and each employee works 160 hours per month.How many hours will be required in each month? In which month(s)will overtime be required to meet the production schedule?
Definitions:
Average-Variable-Cost
The total variable cost divided by the quantity of output produced.
Marginal Costs
The investment required to manufacture an incremental unit of a product or service.
Variable Costs
Costs that change in proportion to the level of activity or production volume.
Fixed Costs
Costs that do not change with the level of output produced by the firm, such as rent, salaries, or loan repayments.
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