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Dear John,
Please can you explain how the decimals (under the standard hours heading) were calculated?
Product Units Standard Machine Hours Actual Production Units
W 15000 3000 12000
X 20000 8000 25000
Y 14000 7000 16000
Z 6000 9000 5000Total Machine Hours worked in the period amounted to 29,000 hours.
What was the efficiency ratio in the year, as a percentage to one decimal place?
Answer:
Product Units Standard Hours
W 12000 (x0.2) 2400
X 25000 (x0.4) 10000
Y 16000 (x0.5) 8000
Z 5000 (x1.5) 7500
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