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A contract is let for 10,000. It is to be completed in four weeks' time, subject to a penalty of P240 per day if that time is exceeded. At the end of 3 weeks, the work is 60% complete. Cost of labor was initially estimated at P4,000 when working 40 hours per week. If overtime labor must be compensated at double time and work is 8 hours per day straight time, on the revised work schedule determined: Would it be cheaper to take the penalty or to complete the job by working overtime?
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