Answer:
there will be fewer labor hours purchased by employers than at the equilibrium wage. none of the above
Explanation:
Equilibrium in economics means balance. Equilibrium wage rate refers to the market wage rate where the quantity of labor supplied matches the labor demanded. It is the wage rate that employers are willing to pay, and workers are ready to accept each hour of labor. The equilibrium wage represents the intersection of labor demand and supply curves.
If the wage is set above the equilibrium rate, it will force employers to pay more than they are willing. Employers will be paying more to workers than the value they are receiving. The hiring of many workers will be uneconomical. Employers will hire fewer workers to keep their costs down.
Answer:
Total cost per unit is $77
Explanation:
Fixed manufacturing overhead per unit = Total fixed manufacturing overhead ÷ Number of units
= $478,800 ÷ 34,200 = $14 per unit
Fixed selling and administrative expenses per unit = Total Fixed selling and administrative expenses ÷ Number of units
= $171,000 ÷ 34,200 = $5 per unit.
Total cost per unit = Direct material + Direct labor + Variable manufacturing overhead + Fixed manufacturing overhead + Variable selling expenses + Fixed selling expenses
Total cost per unit = $15 + $5 + $11 + $14 + $5 + $5 = $55 per unit.
Markup = 40% of total cost = $55 × 40% = $22
Therefore, total selling price per unit = Cost per unit + Markup
= $55 + $22 = $77 per unit.
Answer:
As the production of blenders increases, unitary fixed costs decreases.
Explanation:
Its total fixed costs are $30,000. Its variable costs are $55.00 per blender.
<u>On unitary bases, variable costs remain constant. On the contrary, fixed costs vary at a unitary level. Now, the same amount of costs is divided by a larger number of units.</u>
As the production of blenders increases, unitary fixed costs decreases.
Answer:
Explanation:
Workable ethical theory that was violated was the ideology of justice. However if we look at SECE and IEEE COE, the clauses that have been violated are
SECE: Clause g. “Software engineers shall be fair to and supportive of their colleagues”
IEEE COE: Clause 3. “To be honest and realistic in stating claims or estimates based on available data”
By taking a gold spot instead of a green spot that he was entitled he has violated the overall rights of justice and has not supported his colleagues. He also has not been honest in his claims.
However, considering the overall view of ethics, the student did not have any choice and he did the right thing by parking at whichever spot available.