+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
Calculate the present value of the $20,000 salvage value, again using monthly compounding and the given APR of 8%. Which option do you prefer, lease or buy and calculate the
Set up the amortization schedule for a 5-year, $1 million, 9 percent bullet loan. How is the principal repaid in this type of loan? What is the effective interest cost of this
You are a shareholder in a "C" corporation. This corporation earns $5 per share before taxes. After it has paid taxes, it will distribute the remainder of its earnings to you
If these keyboards are upgraded at a cost of $7,400, they could be sold for $20,000. Alternatively, the keyboards could be sold "as is" for $7,800. What is the net advantage
List the rules in Statement of Financial Accounting Standards No. 13 (FAS 13) and identify, with reasons, whether it would be correct or incorrect to disclose this lease a
a. Although they don't have a choice, Dual-Currency Bond investors would rather be paid the Bond's Principal in Foreign Currency when the foreigh currency gets stronger relati
What effective annual interest rate does the firm earn when a customer does not take the discount? (Use 365 days a year.Do not round intermediate calculations and round your
29% of Americans ages 16 to 21 years old say that they would break up with their boyfriend/girlfriend for $10,000. You select at random twenty 16-21 year olds. What is the p