Question: Estimate the overall labor cost portion due to a task that has a learning-curve rate of 85% and reaches a steady-state value after 16 units

Estimate the overall labor cost portion due to a task that

Estimate the overall labor cost portion due to a task that has a learning-curve rate of 85% and reaches a steady-state value after 16 units of 5 minutes per unit. Labor and benefits are $24 per hour, and the task requires two skilled workers. The overall production run is 20 units. Please calculate the total estimated labor cost with and without considering the learning-curve effect, then compare the reduction. Answer type: XX.XX, example: 0.01

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