See the attached file.
A hypothetical case was set up in which the teller was required to examine a customer's portfolio and determine whether it was more beneficial for the customer to consolidate various CDs into a single issue currently offered, or to leave the portfolio unaltered. A time study made of the teller yielded the following findings:
Time of study 90 minutes
Number of portfolios examined 10 portfolios
Performance rating 130 percent
Rest for personal time 15 percent
Teller's proposed new pay rate $12 per hour
3. If the S&L decides to pay the new tellers on a "piece-rate" basis, how much would a teller earn for a day in which he or she analyzed 50 customer portfolios.
This is the third part of the question I figured out the normal time and standard time in the attached spreadsheet.
Can you show me how to set up in Excel.
Solution contains calculations of how much would a teller earn for a day in which he or she analyzed 50 customer portfolios.