Answer: 21.32 per hour
Explanation:
Guitars produced each month = 100
considered good enough to sell = 82%
Remaining are scrapped = 18 %
Selling price of each guitar = $260
Each guitar requires = 10 labor hours
Each employee works an average = 160 hours per month
Labor is paid = $11 per hour
materials cost = $40 per guitar
overhead = $4,200
Therefore,
Number of guitars are good enough to sell = 82% of 100
= 82 guitars
Value of output = Number of guitars sell × Selling price of each guitar
= 82 × $260
= $21,320
Input in labor hours = Guitars produced each month × Labor hour employed in each guitar
= 100 × 10
= 1,000 hours
Labor productivity =
= 
= 21.32 per hour
Allocator- Price thus serves the function of allocator. First, it allocates goods and services among those who are willing and able to buy them. (As we noted in Chapter 1, the answer to the economic question “For whom to produce?” depends primarily on prices.) Second, price allocates financial resources (sales revenue) among producers according to how well they satisfy customers’ needs. Third, price helps customers to allocate their own financial resources among various want-satisfying products.
In Europe, here are 22 paid vacation days and 13 paid when on holidays. Summing up, that could be a total of 4 weeks of vacation. While on the other hand, the United States as only 16 vacation days, both paid and unpaid, and that could be a total of around 2 weeks of vacation only.
Answer:
$25
Explanation:
We can calculate intrinsic value by intrinsic formula
Formula : intrinsic Value = (purchased price- current price) x 100
intrinsic Value = (45-44.75) x 100
intrinsic Value = $25
