Question: s Question Help Gibson's Bodywork does automotive collision work. An insurance agency has determined that the standard time to replace a fender is 0.4 hours

s Question Help Gibson's Bodywork does automotive

s Question Help Gibson's Bodywork does automotive collision work. An insurance agency has determined that the standard time to replace a fender is 0.4 hours (ie., "standard output" = 2.5 fenders per hour) and is willing to pay Gibson $100 per hour for labor (parts and supplies are billed separately). Gibson pays its workers $70 per hour. Suppose Gibson's workers take 8 hours to replace a fender. a. Gibson's labor hour efficiency is %. (Enter your response rounded to two decimal places.) Given Gibson's labor costs, the company make money on the job. b. Gibson's labor hour efficiency has to be % for Gibson to break even on the job. (Enter your response rounded to two decimal places.)

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