Managerial Accounting
15th Edition
ISBN: 9781337912020
Author: Carl Warren, Ph.d. Cma William B. Tayler
Publisher: South-Western College Pub
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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
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?
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