User Account

All Pages

Direct labor cost for selected production

Assignment Help Macroeconomics
Reference no: EM132813484

The direct labor cost of making airplanes decreases with repetition (learning curve). As a result, the cost of manufacturing of airplanes depend on the unit production number (first, fifth, 10th, 50th, etc.). The following data shows the direct labor cost for selected production numbers.

Airplane # (X) Labor Time(Y)

1 7300
4 6500
12 5400
32 5000
64 4500
130 4200
200 4100
300 3500
400 3500
500 3000
600 2800

a- Using Excel graphs, find linear, power, exponential, and logarithmic fits for this dataset. Make sure to include equations and R2 for each fit. Insert all graphs here and select the best model based on R2.

b- If an airplane manufacturer charges $200 per hour for direct labor cost, find the total labor cost if a small airliner orders 10 airplanes (#700 to 709).

Reference no: EM132813484

Questions Cloud

What is the minimum total annual cost : What quantity should be ordered each time? (Assume that the EOQ assumptions apply.)
Determine the optimal order quantity of planters for hg : The Home and Garden (HG) chain of superstores imports decorative planters from Italy.
Compute the total annual cost of ordering : Victor sells a line of upscale evening dresses in his boutique. He charges $300 per dress, and sales average 30 dresses per week.
Construct total cost-total revenue and total profit graphs : A manufacturing firm is planning to open a new factory. There are four countries under consideration: USA, Canada, Mexico, and Panama.
Direct labor cost for selected production : The direct labor cost of making airplanes decreases with repetition (learning curve). As a result, the cost of manufacturing of airplanes depend
What is the annual cost of current ordering policy : 1. What is the annual cost of their current ordering policy? 2. What is the order quantity that would minimize their annual cost?
Explain realized on a monthly volume : What would be realized on a monthly volume of 60,000 units? What profit would be realized on a monthly volume of 80,000 units?
Explain impact on productivity : What will be the impact on productivity (measured in crates per labor -hour) if the buyers are hired?
Explain ideas around professional self-management : What are the three (3) main ideas around professional self-management? Briefly explain what input a supervisor and/or peers have into the method explained.

Reviews

Write a Review

Macroeconomics Questions & Answers

  Inflation targeting be a good policy

Why might it be difficult for the Fed to formally adopt inflation targeting?  Would inflation targeting be a good policy for the Fed in the present economic environment

  In using the taylor rule

In using the Taylor Rule as a guideline for monetary policy, what are the pros and cons of using forecasted values of inflation and output rather than observed values of these variables?

  Describe the present economic crisis situation in europe

Describe the present economic crisis situation in Europe.  Why has it been so difficult for the Europeans to find a solution to this problem?   Comment on what implications the crisis may have for the rest of the world if Europeans are not able to ag..

  Long-term federal government budget problems

Question:. Explain why there are long-term Federal government budget problems. Explain why the base-line forecast of the CBO is misleading.

  Derive and compare demand curve

Question based on Derive and compare demand curve,  Derive Ambrose's demand function for peanuts. How does it compare with Johnny's demand curve for peanuts?

  Problem based on utility function

Problem based on  Utility Function - Problem,  Answer and explain the following using a diagram which is completely labeled.

  Laffer curve : tax rate and tax revenue

Question based on Laffer Curve : Tax Rate and Tax Revenue,  Do raising tax rates necessarily raise tax revenue? What factors affect how tax revenue changes when tax rates change?

  Problem - income elasticity of demand

Problem - Income Elasticity of Demand,  Interpret the following Income Elasticities of Demand (YED) values for the following and state if the good is normal or inferior; YED= +0.5 and YED= -2.5

  Positive balance of payment

Question Positive Balance of Payment: "Things will look good for the US if we could just get to where we are consistently running a positive Balance of Payments."

  Effect of recession on the investment curve

Comment on the effect of a recession on the investment curve (only) and on the level of savings, investment, and the equilibrium real interest rate in the financial crisis that hits United States first starting in fall 2007.

  Affect of falling domestic investment on trade surplus and

How will a fall in domestic investment affect the trade surplus and net capital outflows in the domestic economy, the trade deficit and capital inflows in the rest of the world.

  Crises in the banking sector and bank run

Banking crises crisis decreases depositors' confidence in the banking system. What would be the effect of a rumor about a banking crisis on checkable deposits in such a country?

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!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

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