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If the minimum wage is set above the equilibrium wage, does this create a shortage or a surplus of labor, or does it create a lower wage rate for skilled workers than for unskilled workers.
What do these numbers imply for the decision of when to open a shared facility versus two separate facilities.
On average, each machine is operated 25 eight-hour days per month. Labor and all other costs are fixed.a) What is the marginal revenue product (MRP) per month for each machine.
computer the amount of manufacturing overhead incurred for the month. Assume all costs are actual. Using actual costing, calculate the cost of one unit.
analyze the effects of government policies, social diversity, and business ethics on this recommendation and explain what would be the impact of this in the future.
Jones earns a base salary of $60,000/yr, and Smart Motors pays an additional 28% of this base salary in taxes and fringe benefits. Is Jones a profitable employee.
Prepare the adjusting entry for manufacturing overhead, assuming the balance is allocated entirely to Cost of Goods Sold. Determine the gross profit to be reported for 2008.
Compute the markup percentage and target selling price that will allow Bolus Computer Parts to earn its desired ROI of 25% on this new component.
The financial capital needed to launch a new business. The capital resources used to produce goods and services.
the dramatic increase in the Hispanic percentage of the workforce and how to reduce the potential tensions in the workplace among employees of different race.
Find the number of hours of skilled labor and the number of hours of unskilled labor that minimized the cost of doing the project.
What factors determine a country's productivity levels. What could a president or other government policymaker do to increase a nation's standard of living.
Allowing for availability the mining system operates 5,000 hours per year. Each worker costs $55,000 per year. Assuming all personnel are required on service shifts , an absenteeism rate of 5%, dete
The Brinker company uses a job order costing system at its local plant. The plant has a machining department and a finishing department.
If major overhaul costs are estimated at 15% of the net capital cost and this occurs every 20,000 hours determine the major overhaul cost per operating hour.
The customer wants the product packaged in large cartons rather than the normal individual containers and will pick them up in its own trucks.
The Textile Workers of America is planning to strike for higher wages. Management predicts that if the strike is successful, the cost of labor will increase to $100 per day.
If Tarzan and Jane are each currently willing to give up on hour of patrol for 2 pounds of fruit, is the current allocation of Cheetah's time Pareto efficient.
Calculate the incremental profit Fluff Rite would earn by customizing its poppers and marketing directly to retailers.
The age at which women could obtain the age pension will gradually raise from 60 - 65. Over the last 5 years the participation rate of women between 60-64 increased.
Jim is considering quitting his job and using his savings to start a small business. he expects that his costs will consist of a lease on the building, inventory, wages for two workers, electricity
Definition and example of the Law of Diminishing Returns. The following table gives total output or total product as a function of labor units used.
If apples sell for $2 per bushel and workers can be hired in a competitive labor market for $30 dollars per day, how many workers should be hired.
Give two reasons a single minimum wage might distort the labor market for teenage workers more than it would the market for adult workers.
Identify three manufacturing industries that experienced large percentage decreases. What single factor is the most likely cause of the entry and exit differences between your two groups.