+1-415-670-9189
info@expertsmind.com
Cost scheduling
Course:- Finance Basics
Reference No.:- EM1349769




Assignment Help
Expertsmind Rated 4.9 / 5 based on 47215 reviews.
Review Site
Assignment Help >> Finance Basics

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?




Put your comment
 
Minimize


Ask Question & Get Answers from Experts
Browse some more (Finance Basics) Materials
Prepare a 1-3 page paper on the role of the financial manager in making decisions about Capital Budgeting, Capital Structure and Working Capital Management. Explain and disc
DQ1 What are possible capital components in the WACC equation? Select two firms in the same industry. Calculate or find the WACC for the two firms. How do the WACCs compar
A 6.3 percent corporate coupon bond is callable in five years for a call premium of one year of coupon payments. Assuming a par value of $1,000, what is the price paid to th
Mandesa, Inc., has current liabilities of $8 million, current ratio of 2 times, inventory turnover of 12 times, average collection period of 30 days, and credit sales of $64
Based on recent market information, Jam is worth $319 million as an independent operation. If the merger makes economic sense for Pearl, what is the minimum estimated value
The total cost of all orders for item 1369. Use the answers to parts (a) and (b) along with the SUM function to do this. In other words, you should use the appropriate INDEX
Unfortunately, the random variable in question is exponentially distributed; the sample size of 10 is considerably smaller than is required for a normal approximation to be
According to IARC Monographs on the Evaluation of Carcinogenic Risks to Humans: Tobacco smoke and involuntary smoking (Vol. 83. 2004, Lyon: IARC Press), people with the highe