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

Questions Cloud

Draw e-r diagram which models online bookstore : Draw the E-R diagram which models an online bookstore. List entity sets and their primary keys. Assume the bookstore adds music cassettes and compact disks to its collection.
Explain what are the implicattions of conflicts of interest : Conflict - Explain what are the implicattions of conflicts of interest, and how do they impact corporations?
Write down an expression for the displacement as a function : Standing on ground 3.5 from the wall of a building, you want to throw a package from your 1.6 shoulder level to someone in a second-floor window 4.5 above the ground.
Explain how do economists the absolute and relative sizes : Explain how do economists distinguish between the absolute and relative sizes of the public debt. Why is the distinction important.
Cost scheduling : A restaurant operates with two full-time employees who work eight hours per day. The rest of the employees are part-time employees who are scheduled for four hours shifts.
Romantic entaglements and employees : Romantic Entaglements and Employees - What strategies would you put in place to ensure this does not happen again in the future
Presuming that the fcpa did not exist : Presuming that the FCPA did not exist and what is the ethical response to each of the payments
Important information about conflict in organizations : Conflict is inevitable in organizations. In response to this statement, define the term "conflict" in an organizational perspective and explain
Calculate the acceleration of the crate : Two narrow slits 62um apart are illuminated with light of wavelength 480nm . What is an angle of the bright fringe in degrees.

Reviews

Write a Review

Finance Basics Questions & Answers

  Maximum deductible contribution

Determine the  maximum deductible contribution

  Computation of value of the bond and the total interest

Computation of value of the bond and What is the total interest expense recorded on these bonds over the fifteen years if the market rate of interest

  Objective type questions on decision on investments

Objective type questions on decision on investments, inventory and risk management and Common stockholders are most concerned with

  Trader breakeven with a profit of zero

Explain what two values of the stock price in three months does the trader breakeven with a profit of zero?

  Mergers and acquisitions failures

Compare and contrast M&A failures, such as technical and legal insolvency, and bankruptcy. Also require to consider what happens to stakeholders, company image, price per share, market share, company assets, industry position, goodwill, and service..

  Computing the internal rate of return of investment

Compute the internal rate of return of each investment?

  Computation of future contract value

Computation of future contract value and what is the farmer's net proceeds when corn is sold

  Gdp-fiscal and monetary policy

Describe and discuss the concepts of federal deficit and the national debt. How statistically significant are they for the United States as compared to other countries? Discuss how the deficits and debt arise.

  Calculation of interest rate using effective interest rate

Calculation of interest rate using effective interest rate method

  Business finance-merger of world enterprises and wheelrim

The Muck and Slurry merger has fallen through but World Enterprises is determined to report earnings per share of $2.67. It therefore acquires the Wheelrim and Axle Company. You are given the following facts:

  How much cash is available also you must meet a payroll

Elucidate how much cash is available also you must meet a payroll of $100,000 in 2 days. Where would you start.

  Calculation of net present value of convertible bond

Calculation of Net present value of convertible bond and what is the Aramis Inc.'s net present value of its interest savings

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