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ive recently answered a question and the answer needed is rounded to 2 decimal. the question is on section B as follow :
Kent Co produces a range of consumer electronics and has launched a new media streaming device called the Streamster. The Streamster will be produced by the existing workforce on a new production line, and the production process will be similar to that of other products they produce. The following product information is available:
$
Selling Price 85.00
Direct Materials (55.75)
Direct Labour (11.00)
Fixed overheads (7.00)
Profit 11.25
The costing above did not consider the possible learning curve effect among the production workers. The production supervisor is confident that an 90% learning curve should apply and that a steady state of production will be reached at the 50th unit. The learning index for 90% is -0.152. Labour is paid $27.50 per hour.when i calculate it i got 5.16 using a different approach of calculation
the sample answer it provides is 5.15 but when i calculate using the same method on the same workings i got 5.14With learning curve you usually work in four decimal places until the final answer and then round to 2 for the final answer.
If an exam question can usually be done 1 of a few ways the answer will be set to accept a range of answers in the real exam. Say 5.13-5.17 for example. For a fill in the blank answer.
Hope this puts your mind at rest
Hi, I hope you don’t mind me piggy backing off this question.
I just did the mock exam and I am really confused as to how the answer is worked out for this one. How was the time worked out? Where did 0.4 come from in the answer?
Thank you.
11/27.5 = u will get 0.4 hours, but i like to convert it to minute so i did in my calculation 0.4*60 and got 24 minutes, i dont feel comfortable in using decimal haha
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