Total Labor Cost Per Good Matrix Calculation

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SUMMARY

The discussion focuses on calculating the total labor cost per good produced in a factory using a matrix or vector product. The factory requires 3 labor-hours in the assembly department at a rate of $19 per hour and 1 labor-hour in the finishing department at a rate of $16 per hour. The correct approach involves using an inner product to derive a scalar value representing the total labor cost. The matrix representation should be structured as follows: $$=\begin{bmatrix} 3 & 1 \\ 16 & 19 \end{bmatrix}$$.

PREREQUISITES
  • Understanding of matrix operations, specifically inner products
  • Familiarity with labor cost calculations
  • Basic knowledge of linear algebra
  • Ability to interpret matrix notation
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  • Study "Labor cost analysis in manufacturing" for practical applications
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Manufacturing analysts, financial managers, and anyone involved in cost accounting or labor cost optimization in production environments.

Binte
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This is probably a simple question

A factory produce a good that requires 3 labor-hours in the assembly department and 1 labor-hour in the finishing department. Assembly personnel receive 19 per hour and finishing personnel receive 16 per hour.

I need to write a matrix or vector product that would give the total labor cost per good.

Is this just simply

$$=\begin{bmatrix}
3 & 1 \\
16 & 19 \end{bmatrix}$$ ?

Thanks
 
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The desired answer will be just a number (a scalar), which suggests you want an inner product.

We have two departments, and the cost in each department will be:

time spent x cost per time unit.
 

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