PLEASE COMPLETE WORK IN EXCEL SPREADSHEET ONLY. SHOW ALL FORMULAS/FUNCTIONS TO SHOW ANSWERS (SCREENSHOTS) AND EXPLAIN TO ME HOW YOU GOT THE ANSWER. All WORK SHOULD BE IN EXCEL. SCREENSHOT A PICTURE OF ANSWERS THEN A SCREENSHOT OF FORMULAS IN EXCEL

The data below represent time study observations for an assembly operation. Assume a 7% allowance factor. What is the normal time for each element? What is the standard time for the assembly operation?

		Observations (times in minutes)
Element	Performance Rating	1	2	3	4	5
1	100%	1.5	1.6	1.4	1.5	1.5
2	90%	2.3	2.2	2.1	2.2	2.4
3	115%	1.7	1.9	1.9	1.4	1.6
4	100%	3.5	3.6	3.6	3.6	3.2