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What is the labor portion of the bid

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Reference no: EM132979918

Question - A product has an average labor cost of $45/hr. The time for the very 1st unit = 10 hours, and steady state is reached at the 4th unit. Your firm's bid for this contract is to produce 8 total units.

1) If the learning curve percentage is 90%, what is the cumulative time for 8 units to be made?

2) If you include a 50% profit margin over your costs, what is the labor portion of the bid?

Reference no: EM132979918

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