Answered step by step
Verified Expert Solution
Question
1 Approved Answer
You work for a firm that produces molds for concrete castings, and are contacted by a art management company to do a large project. They
You work for a firm that produces molds for concrete castings, and are contacted by a art management company to do a large project. They want you to make 5 simple molds and 2x5 complex molds. In order to complete this operation you would need to purchase an additional $7434 worth of equipment. The cost to make each simple mold is $3300 in labor and $1000 in materials/supplies. To make complex molds, there is generally a base cost of $6000 in labour, and $1200 in materials/supplies. In addition to this, each complex mold requires touching up at a rate of $1 32/ hour, with an average of 5 hours per part of polishing. The parts also require paying overtime rates for shop work, which is 10% of the total touching up costs and labour cost for all the molds. Whats the minimum price you must be paid in order for this project to be considered profitable (break even)
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started