Labor Information -Regular Rate $16.00/hr -Overtime Rate $24.00/hr -Targeted Labor Cost $11,200/wk -Labor Hours Needed 700/wk -Any hour worked over 40 hrs/wk must be paid overtime rate For a 14-person team, how does the actual weekly labor cost compare to the targeted labor cost?
Added by Ricky R.
Step 1
We do this by dividing the total labor hours needed by the number of people in the team. 700 hours / 14 people = 50 hours per person per week Show more…
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