Gibson's Bodywork does automotive collision work. An insurance agency has determined that the standard time to replace a

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Gibson S Bodywork Does Automotive Collision Work An Insurance Agency Has Determined That The Standard Time To Replace A 1 (18.18 KiB) Viewed 13 times

Gibson's Bodywork does automotive collision work. An insurance agency has determined that the standard time to replace a fender is 0.1 hours (i.e., "standard output" = 10 fenders per hour) and is willing to pay Gibson $55 per hour for labor (parts and supplies are billed separately). Gibson pays its workers $20 per hour. Suppose Gibson's workers take 2 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.)