Author Question: A metal works fabricator is about to release a new model of his firm's copper sculpture and ... (Read 19 times)

ericka1 · **on:** Dec 3, 2019

A metal works fabricator is about to release a new model of his firm's copper sculpture and fountain. The operations manager estimates that this product is subject to a 90% learning rate on labour only—the material bill is not affected by experience. The firm prices its work based on cost—the sum of materials plus 30% and labour plus 50%. (This allows the firm to practice a little "demand management" for its very popular works.) The first item has already been finished; the material bill was $800 and labour totalled 40 hours. The firm pays its metalworking artisans an average of $18 per hour. What should be the asking price of the first unit? The second?

josephsuarez · **Reply #1 on:** Dec 3, 2019

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