Cost scheduling

Assignment Help Finance Basics
Reference no: EM1349769

A restaurant operates with two full-time employees who work 8 hours per day. The rest of the employees are part-time employees who are scheduled for 4 hours shifts. On Saturdays the restaurant is open 11:00 A.M. to 10:00 P.M. Management wants to develop a schedule for part-time employees that will minimize labor costs and still provide excellent service. The average wage rate for the part-time employees is 7.60 per hour. The total number of full-time and part-time employees needed varies with time of day as shown.

Time Total Number of employees Needed

11:00 A.M.- Noon 9

Noon - 1:00 P.M. 9

1:00 P.M. - 2:00 P.M. 9

2:00 P.M. - 3:00 P.M. 3

3:00 P.M - 4:00 P.M. 3

4:00 P.M. -5:00 P.M. 3

5:00 P.M.- 6:00 P.M. 6

6:00 P.M.- 7:00 P.M. 12

7:00 P.M.- 8:00 P.M. 12

8:00 P.M.- 9:00 P.M. 7

9:00 P.M.- 10:00 P.M. 7

One full time employee comes on duty at 11:00 A.M., work 4 hours, takes an hour off, and returns do another 4 hours. The other full-time employee comes to work at 1:00 P.M. and works the same 4 hours-on, 1 hours-off, 4 hours-on pattern.

(a) Develop a minimum-cost schedule for part-time employees.
(b) What is the total payroll for the part-time employees?

Reference no: EM1349769

Questions Cloud

Draw e-r diagram which models online bookstore : Draw the E-R diagram which models an online bookstore. List entity sets and their primary keys. Assume the bookstore adds music cassettes and compact disks to its collection.
Explain what are the implicattions of conflicts of interest : Conflict - Explain what are the implicattions of conflicts of interest, and how do they impact corporations?
Write down an expression for the displacement as a function : Standing on ground 3.5 from the wall of a building, you want to throw a package from your 1.6 shoulder level to someone in a second-floor window 4.5 above the ground.
Explain how do economists the absolute and relative sizes : Explain how do economists distinguish between the absolute and relative sizes of the public debt. Why is the distinction important.
Cost scheduling : A restaurant operates with two full-time employees who work eight hours per day. The rest of the employees are part-time employees who are scheduled for four hours shifts.
Romantic entaglements and employees : Romantic Entaglements and Employees - What strategies would you put in place to ensure this does not happen again in the future
Presuming that the fcpa did not exist : Presuming that the FCPA did not exist and what is the ethical response to each of the payments
Important information about conflict in organizations : Conflict is inevitable in organizations. In response to this statement, define the term "conflict" in an organizational perspective and explain
Calculate the acceleration of the crate : Two narrow slits 62um apart are illuminated with light of wavelength 480nm . What is an angle of the bright fringe in degrees.

Reviews

Write a Review

Finance Basics Questions & Answers

  Global finance-optimal financing-investment strategy

Employ foreign exchange and cost of capital data to determine appropriate capital sources. Please describe why and how you came to these conclusions. Also make sure to site sources.

  Explain capital budgeting involves calculation net present

Explain Capital budgeting involves calculation of net present value and The following information is associated with this project

  Finance and importance to business

Describe how financial statements, cash flow, risk, return, and capital asset pricing model, stocks, stock valuation and stock market equilibrium are significant to one's work profession and business?

  Hierarchical and network database structure

Compare and contrast the Hierarchical Database Structure and the Network Database Structure

  Find the the annual ordering cost

Find the the annual ordering cost, and the optimal order quantity for the zen-zens?

  Financial management

Define each term given below and identify their roles in finance. Finance, Efficient market, Primary market,  Secondary market.

  Computing payment for sales

Suppose each month has thirty days and AmDocs has a sixty-day accounts receivable period. In the second calendar quarter of year (April, May and June), AmDocs will gather payment for sales it made during which of the months listed below?

  Description of dividend policy

Discuss the advantages, disadvantages, and types of firms (e.g. growth oriented, mature, etc.) that might be likely to adopt each type of the following dividend policies:

  Describe about investments

Describe about investments and stock returns are independent-one stock in increasing in price has no effect on the prices of the other stocks

  Describing the economic growth

Why is economic growth important? Why could the difference between the 2.5 percent and 3 percent annual growth rate be of great significance over many decades?

  Annuity payments from insurance policy

Sarah is age 73 and has a great deal of difficulty living independently, as she suffers from severe arthritis.How much income must Sarah report if she elects the annuity? How much income would Sarah have to report if her nursing home bills amounted..

  Objective type questions on bank reconciliation

Objective type questions on bank reconciliation and Combining the functions of signing checks with the approval of expenditures

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd