A time study was conducted on a job that contains four elements. The observed times and performance ratings for six cycles are shown in the following table. Explain and please provide the excel formulas. OBERVATIONS (minutes per cycle) Element Performance Rating 1 2 3 4 5 6 1 90% 0.44 0.50 0.43 0.45 0.48 0.46 2 85 1.5 1.54 1.47 1.51 1.49 1.52 3 110 .84 0.89 0.77 0.83 0.85 0.82 4 100 1.10 1.14 1.08 1.20 1.16 1.26 a) Determine the average cycle time for each element. b) Find the normal time for each element. c) Assuming an allowance factor of 15 factor of 15 percent of job time, compute the standard time for this job.