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Individual Assignment
• Solve Exercise A5.1, starting on Page 153 of Larson & Gray. The solution to this problem needs complete understanding of the Learning Curves covered in Chapter 5. Clearly identify your answer to each part of the problem. Show your work.
o Part A. Find the unit value in Table A5.1 and multiply by the number of hours.
o Part B. Find the cumulative value in Table A5.2 and multiply by the number of hours.
o Part C. Calculate the labor price by multiplying the labor hours by 300. Add the cost of R&D and material and calculate the subtotal. Then add 25% profit to the subtotal to arrive at the total price to the customer.
o Part D. Calculate the total labor hours based on 80% and 75% improvement. Subtract the two, and multiply the result by 300 to arrive at the cost savings for the project.
o Part E. First, calculate the total labor hours for 12 units based on 75% (not 80%) improvement. Second, calculate the total labor hours for 8 units based on 75% improvement. Subtract the two and multiply by 300 to determine the additional labor cost of 4 units. Add the cost of necessary material to arrive at the subtotal of direct costs. Add 25% profit to arrive at the total incremental price to the customer for the additional 4 units.
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