Please answer the question correctly . Please provide the answer with all the steps and formula .

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Question 2:

Cost Estimation (10 marks )

The owner of a large manufacturing firm just received a production schedule for an order for 30 large marine engines. Over the next 5 months, the company is to

produce 2, 3, 5, 8, and 12 engines, respectively. The first unit took 3,000 direct labor hours, and experience on past projects indicates that a 95 percent learning curve is appropriate; therefore, the second unit will require only 2,850 hours. Estimate the total number of full-time employees needed each month for the next 5 months.

Assume that each employee works 40 hours per week and that there are 365 days in this year, i.e. it is not a leap year. Hint: Find the average number of weeks per month. NOTE: Using a spreadsheet to help you with this question is a good idea, however you CANNOT simply submit a spreadsheet or a table of the results. We want to see a detailed set of hand calculations for ALL portions of the work as a proof of your solution.