4. A manufacturing company uses 28,000 components at an even rate during the year. Each order placed with the supplier of the components is for 1,500 components, which is the economic order quantity. The company holds a buffer inventory of 700 components. The annual cost of holding one component in inventory is $3.What is the total annual cost of holding inventory of the components?

(a)  

11. A company makes a product for which standard labour time in 2 hours per unit. Budgeted prod hours for a given week are 820 hours. During the week the prod staffs were able to produce 380 units of product. Staffs worked and were paid for 800 hours in which during the period 20 production hours were lost due to shortage of material. What was the efficiency ratio (to two decimal places)?

(a)  

13. A company operates a piecework payment scheme. The staff received $0.60 for each unit produced. However, the company guarantees that every member of staff will receive at least $45 per day. Show below is the number of units produced by worker A during a recent week:

(a)  

15. An organisation operates a piecework system of remuneration, but also guarantees its employees 80% of a time-based rate of pay which is based on $20 per hour for an eight-hour working day. Three minutes is the standard time allowed per unit of output. Piecework is paid at the rate of $18 per standard hour.If an employee produces 200 units in eight hours on a particular day, what is the employee’s gross pay for that day?

(a)