Finance homework

A time study was conducted on a job that contains four elements. The observed times and performance ratings for six cycles are shown in the following table.

 

OBSERVATIONS (minutes per cycle)
Element Performance

Rating

1 2 3 4 5 6
1 90% 0.44 0.50 0.43 0.45 0.48 0.46
2 85 1.50 1.52 1.47 1.51 1.49 1.52
3 110 0.84 0.89 0.77 0.83 0.82 0.80
4 100 1.10 1.14 1.08 1.14 1.16 1.26

 

a. Determine the average cycle time for each element. (Round your answers to 3 decimal places.)

 

 Element         Average cycle
  1
  2
  3
  4

 

b. Find the normal time for each element. (Round your answers to 3 decimal places.)

 

 Element            Normal time
  1
  2
  3
  4

 

c. Assuming an allowance factor of 18 percent of job time, compute the standard time for this job. (Round your answers to 3 decimal places.)

 

 Element            Standard time
  1
  2
  3
  4

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