value 2.08 points You did not receve full credit for this question in a previou

Question

value 2.08 points You did not receve full credit for this question in a previou Refer to the table below. Assume that the company involved now finds that the learning rate is 75 percent The 75 percent learning rate coefficient is-0415037, that is 0 415037 in the formula Y ax Required: Using the formula Y axe, compute the labor time and costs for 5,6, and 7 units (Round your intermediate calculations (except for coefficient) and final answe decimal places.) Required to Unit Produce the Xth Cumulative Total Time Average Cost Costa) per Unitj4) Total Produced Unit (Le.. the 1ast single unitHours(2) e unitin Labor 0000 5,00000 5,00000 175.00 238 38 294 63 100.00 75 00 63 .38 56 25 8,750.00 11,919 18 14,73 437500 3,973 06 3,682 92 42 19480 22 24.011243,00141 uo ea0@ 11/2 Type here to search

Explanation / Answer

Labor time to produce unit 5 = aX^b = 100*5^(-.4150) = 51.28 hrs

Cumulative labor time = 294.63 + 51.28 = 345.91 hrs

Total cost = 345.91*50 = $17295.50

Labor time to produce unit 6 = aX^b = 100*6^(-.4150) = 47.54 hrs

Cumulative labor time = 345.91 + 47.54 = 393.45 hrs

Total cost = 393.45*50 = $19672.5

Labor time to produce unit 7 = aX^b = 100*7^(-.4150) = 44.59 hrs.

Cumulative labor time = 393.45 + 44.59 = 438.04 hrs.

Total cost = 438.04*50 = 21902

Afterward the average cost per unit is calculated and put in the table.

There will be minor deviations in the value after the decimal, due to the rounding off the value up to two decimal points.

Unit produced (X) Labor time required to produce X unit Cumulative labor time Total cost ($) Average cost ($) 1 100 100 5000 5000 2 75.00 175.00 8750.10 4375.05 3 63.39 238.39 11919.41 3973.14 4 56.25 294.64 14732.05 3683.01 5 51.28 345.92 17295.93 3459.19 6 47.54 393.46 19672.98 3278.83 7 44.59 438.05 21902.72 3128.96 8 42.19 480.25 24012.26 3001.53

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