Winkleman Associates requires prospective recruits to take an examination that includes both computational and essay questions. It employs contract workers to grade the exams. Hiring of Winkleman recruits takes place four times per year and a different exam is used each time. The contract workers are paid $25 per hour to grade the exams. The last worker to grade exams graded 16 complete exams. A Winkleman analyst, who is interested in learning curves, estimated that the worker exhibited an 80 percent learning rate. The worker was paid $204.80 for the last exam (the 16th) that was graded. Quesitons: Based on the estimated rate of learning, how long did it take the worker to grade the first exam? What is the percentage of the cost of the 16th exam to the cost of the 1st exam?

The registration advisors at a small Midwestern university (SMU) help 4,200 students develop their class schedules and register for classes each semester. Each advisor works for 10 hours a day during the registration period. SMU currently has 10 advisors. While advising an individual student can take anywhere from 2 to 30 minutes, it takes an average of 12 minutes per student. During the registration period, the 10 advisors see an average of 300 students a day on a first-come, firstserved basis.  The head of the registration advisors at SMU has decided that the advisors must finish their advising in 2 weeks (10 working days) and therefore must advise 420 students a day. However, the average waiting time given a 12-minute advising period will result in student complaints, as will reducing the average advising time to 10 minutes. SMU is considering two alternatives: a. Hire two more advisors for the 2-week (10-working day) advising period. This will increase the available number of…

The registration advisors at a small Midwestern university (SMU) help 4,200 students develop their class schedules and register for classes each semester. Each advisor works for 10 hours a day during the registration period. SMU currently has 10 advisors. While advising an individual student can take anywhere from 2 to 30 minutes, it takes an average of 12 minutes per student. During the registration period, the 10 advisors see an average of 300 students a day on a first-come, firstserved basis.  The head of the registration advisors at SMU has decided that the advisors must finish their advising in 2 weeks (10 working days) and therefore must advise 420 students a day. However, the average waiting time given a 12-minute advising period will result in student complaints, as will reducing the average advising time to 10 minutes. SMU is considering two alternatives: a. Hire two more advisors for the 2-week (10-working day) advising period. This will increase the available number of…

The registration advisors at a small Midwestern university (SMU) help 4,200 students develop their class schedules and register for classes each semester. Each advisor works for 10 hours a day during the registration period. SMU currently has 10 advisors. While advising an individual student can take anywhere from 2 to 30 minutes, it takes an average of 12 minutes per student. During the registration period, the 10 advisors see an average of 300 students a day on a first-come, firstserved basis. Q. SMU wants to know the effect of reducing the average advising time on the average wait time. If SMU can reduce the average advising time to 10 minutes, what would be the average waiting time if 420 students were seen each day?

Jace and Associates provides professional consulting services to a variety of clientele in an effort to help them improve the operating effectiveness and profitability of their businesses. At the start of the year, budgeted MOH costs were $250,000; budgeted direct labor hours, its allocation base, were 100,000. The company is considering doing work for a new client that is estimated to take around 45 hours. How much should Jace bid on this job if the company incurs a direct labor rate of $30/hour and charges a 60% mark-up above job costs? (Round answer to 2 decimal places, e.g. 5,275.25.) Bid price $

Gubser Welding Inc. operates a welding service for construction and automotive repair jobs. Assume that the arrival of jobs at the company's office can be described by a Poisson probability distribution with an arrival rate of two jobs per 8-hour day. The time required to complete the jobs follows a normal probability distribution, with a mean time of 3.2 hours and a standard deviation of 2 hours. Answer the following questions, assuming that Gubser uses one welder to complete all jobs: a. What is the mean arrival rate in jobs per hour? b. What is the mean service rate in jobs per hour? c. What is the average number of jobs waiting for service? d. What is the average time a job waits before the welder can begin working on it? e. What is the average number of hours between when a job is received and when it is completed? f. What percentage of the time is Gubser's welder busy?

Cal’s Carpentry is considering outsourcing its accountsreceivable function. Currently, Cal employs two full-time clerksand one part-time clerk to manage accounts receivable. Each fulltime clerk has an annual salary of $36,000 plus fringe benefitscosting 30 percent of their salary. The part-time clerk makes$18,000 per year but has no fringe benefits. Total salary plus fringecost is $111,600. Cal estimates that each account receivable incursa $10 variable cost. The Small Business Accounts ReceivablesGroup (SBARG) specializes in handling accounts receivable forsmall- to medium-size companies. Doris Roberts from SBARGhas offered to do the accounts receivable for Cal’s Carpentry ata fixed cost of $75,000 per year plus $30 per account receivable.Next year, Cal expects to have 2000 accounts receivable.(a) Calculate the cost for Cal’s Carpentry to continue doingaccounts receivable in-house.(b) Calculate the cost for Cal’s Carpentry to use SBARG tohandle the accounts receivable.(c) If the fixed…

Nicholson Co sells mobile telephones. It supplies its customers with telephones and wireless telephone connections. Customers pay an annual fee plus a monthly charge based on calls made. The company has recently employed a consultant to install a balanced scorecard system of performance measurement and to benchmark the results against those of Nicholson Co's competitors. Unfortunately the consultant was called away before the work was finished. You have been asked to complete the work. The following data is available. Nicholson Co Operating data for the year ended 30 November 2013 Sales revenue $480 million Sales attributable to new products $8 million Average capital employed $192 million Profit before interest and tax $48 million Average number of customers 1,960,000 Average number of telephones returned for repair each day 10,000 Number of bill queries 12,000 Number of customer complaints 21,600 Number of customers lost 117,600 Average number of telephones unrepaired at the end of…

consumer focus is a marketing research firm that organizes focus groups for consumer – product companies. Each focus group has eight individuals who are paid $50 per session to provide comments om new products. these focus groups meet in hotels and are led by a trained, independent, marketing specialists hired by consumer focus. Each specialist is paid a fixed retainer to conduct a minimum number of sessions and a per sessions fee of $2000. A consumer focus staff member attends each session to ensure that all the logistical aspects run smoothly.Required: - Classify each of the following cost items as:a. Direct or indirect (D or I) costs with respect to each individual focus group.b. Variable or fixed (V or F) costs with respect to how the total costs of consumer focus change as the number of focus groups conducted changes.( if in doubt, select on the basis of whether the total costs will change substantially if there is a large change in the number of groups conducted.)You will have…

Each year, Sunshine Motos surveys 7,500 former and prospective customers regarding satisfaction and brand awareness. For the current year, the company is considering outsourcing the survey to Global Associates, who have offered to conduct the survey and summarize results for $30,000.Craig Sunshine, the president of Sunshine Motors, believes that Global will do a higher-quality job than his company has been doing, but is unwilling to spend more than $10,000 above the current costs. The head of bookkeeping for Sunshine has prepared the following summary of costs related to the survey in the prior year. Mailing   $16,000                                                                      Printing (done by Lester Print Shop)   $4,500 Salary of Pat Fisher, part-time employee who stuffed envelopes and summarized data when surveys were returned       (100 hours X $15)  $1,500 Share of depreciation of computer and software used to track survey responses and summarized results.   $1,100 Share…