A plant is introducing time standards in one of its production departments. The department employs 51 workers. The average wage rate in the department is $16/hr, including fringe benefits. The workweek is 40 hr (2000 hr/yr). The average number of batches produced each year by a worker is 50 (1 batch/week), and the average batch size is 1423 parts. When time standards are used, the productivity increase is expected to be 47%. The application speed ratio of the work measurement techniques to be used is 150. The annual salary of each analyst is $54.7,000, including fringe benefits. Determine the annual increase in profits attributable to the department if its workload is increases to utilize the same number of workers after standards as before, given that the value added per part completed is $2.7. 5682466 $ 3722995 $ 4702730 $ 6662201 $