The correct statement will be that Luis earns $1131.90 in each week if he works for more than 46 hours at the standard rates of the salary. So, the correct option is C.
The amount can be calculated by the summation of the first 40 hours at the normal rate of salary and the next 6 hours at the increased rate of salary as given in the example above.
- Hourly pay is the rate of salary where the salary is not determined upon the work done in number of hours and does not get determined on the performance during such hours of service.
- We can calculate the rate of salary as using the calculations below,
- Now calculating the salary for the additional 6 hours worked at the newer rate as below using the similar formula,
- We have the values of salaries of both such hours. Now doing the summation of both the salaries we get,
- It is obtained that Luis earned $1131.90 for the week at the different rates of hourly pays as provided.
Hence, the correct option is C that Luis has earned $1131.90 by working 46 hours in a week.
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Answer:
Items included in GDP
Judy's purchase of potatoes
The purchase of the two fighter jets
Explanation:
Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year
GDP calculated using the expenditure approach = Consumption spending by households + Investment spending by businesses + Government spending + Net export
Net export = exports – imports
Items not included in the calculation off GDP includes:
1. services not rendered to oneself
2. Activities not reported to the government
3. illegal activities
4. sale or purchase of used products
5. sale or purchase of intermediate products
Judy's purchase would be included as part of consumption spending by households on non durable items.
The purchase of the tires would not be included in the calculation of GDP because the tires are intermediate goods. Only final goods are included in the purchase of GDP
The purchase of the two fighter jets would be included in GDP as part of government spending
the $100 gift would not be included in the calculation of GDP
Answer:
Minimum transfer price = $86
Explanation:
Pump Division is operating at full capacity, hence it has no excess capacity
This implies that it can not produce enough to meet both the internal demand (from the Pool Division ) and external buyers.
Hence, it implies that Pump Division cannot accommodate the demands of the Pump Division at a price lower than the external price of $86. Any price lower than $86 would result into a loss in contribution.
To maximize and optimize the group profit, the minimum transfer price should be set as follows:
Minimum transfer price = External selling price at which Pump Division sells to outside customers
Minimum transfer price = $86
Answer:
Both A and B are correct.
Explanation:
Variance analysis help the business to identify the deviation from their budgeted expenditures. The budget cost or volume is analyzed against the actual expenditure or production volume. Variance can be favorable or unfavorable. An unfavorable material price variance will increase the cost of finished goods.
