Question 3: a) Assume that, the standard time to produce one unit is 3 minutes....
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Question 3: a) Assume that, the standard time to produce one unit is 3 minutes. The basic wage is $7.44 and the overhead rate per hour is $5.The following information also relevant; Employees A B D E F Units 15 16 20 25 30 40 produced per hour Required: Calculate conversation costs for each of the employees under the piece-work plan system. b) Super shine ltd. uses EOQ concepts to determine the order quantity for its various components and is planning its orders. The Annual consumption is 80,000 units, the Cost to place one order is $1,200, the cost per unit is $50 and the carrying cost is 6% of the Unit cost. Find EOQ, No. of orders per year, Ordering Cost and Carrying Cost, and Total Cost of Inventory
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