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

Explaining how the global financial crisis

Explaining how the Global Financial Crisis [GFC] has had a significant impact on 1) the stability and interconnectedness of international financial markets and economies

What is the project''s initial cash flow?

1. Baldwin Corp. just paid a dividend of $2.00. Over the next two years this dividend is expected to grow by 20% per year. After two years, dividend growth is expected to leve

What minimum yearly cash inflow will necessary for company

what minimum yearly cash inflow will be necessary for the company to go forward with this project? b. How would the minimum yearly cash inflow change if the company required

Approxiamte present value

Ameri Copr expects to receive $2000 per year for 10 years, and $3500 per year for the next 10 years at the end of each year. What is the approxiamte present value of this 20

What price should they charge for these bonds

ABC wants to issue 12-year, zero coupon bonds that yield 8.73 percent. What price should they charge for these bonds if they have a par value of $1000? That is solve for PV.

At what price will it be filled

Consider the following limit order book of a specialist. The last trade in the stock occurred at a price of $40. If a market buy order for 100 shares comes in, at what price

What is the market value of oldhats mortgages

The next day, terrible news hits the mortgage markets, and mortgage rates jump to 13%. What is the market value of Oldhat’s mortgages? What is Oldhat’s “market value” capital

What is the operating cash flow or ocf

Calculating OCF Williams, Inc., has sales of $25,300, costs of $9,100, depreciation expense of $1,700, and interest expense of $950. If the tax rate is 40 percent, what is t

Reviews

Write a Review

 
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