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rewona [7]
3 years ago
9

Ella makes minimum wage. Her job title is "System Assembly Supervisor." She primarily spends her workday putting together electr

onic components. She is asked to work more than 40 hours this week to meet a deadline. Is Ella eligible for overtime pay?
Business
1 answer:
timurjin [86]3 years ago
3 0

Answer:

She must be paid overtime

Explanation:

Based on federal and state laws on overtime, hourly employees such as Ella who work more than 40 hours in a single workweek must be paid a higher wage for every hour past 40. overtime rate should be at least one and a half times Ella's regular pay rate.

The Fair Labor Standards Act (FLSA) states that working over 40 hours in a 168 hour period is counted as overtime

Therefore Ella is eligible for an overtime.

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Prepare a 2018 balance sheet for Rogers Corp. based on the following information: Cash = $250,000; Patents and copyrights = $720
spayn [35]

Answer:

Common stock balance= $1,039,000

Explanation:

A balance sheet can be described as a financial statement that presents the assets, liabilities and shareholders' equity of a company.

Common stock refers to the security such shares that represents ownership in a company.

In order to determine the common stock account balance for Rogers Corp., its balance sheet is first prepared as follows:

Rogers Corp.

Balance Sheet

For the year 2018

<u>Particulars                                              $                         $             </u>

Intangible Assets:

Patents and copyrights                                                720,000

Tangible Assets:

Net fixed assets                                                         3,400,000

Current Assets:

Cash                                                   250,000

Accounts receivable                          129,000

Inventory                                        <u>    345,000  </u>

Total Current Assets                         724,000

Current Liabilities:

Accounts payable                            (530,000)

Notes payable                              <u>    (190,000)  </u>

Working Capital                                                                4,000

Long-term Liabilities:

Long-term debt                                                        <u>  (1,830,000) </u>

Net Total Assets                                                      <u>   2,294,000  </u>

Financed by:

Common stock (w.1)                                                   1,039,000

Accumulated retained earnings                            <u>    1,255,000   </u>

Owners' Equity                                                     <u>     2,294,000   </u>

Workings:

w.1: Common stock balance = Net total assets - Accumulated retained earnings = $2,294,000 - $1,255,000 = $1,039,000

4 0
3 years ago
Other things held constant, which of the following events is most likely to encourage a firm to increase the amount of debt in i
True [87]

Answer: Option (c) is correct.

Explanation:

Correct Option: The corporate tax rate increases.

If there is an increase in the corporate tax rate then this will induce the firms to increase the amount of their debt. This is due to the fact that the firms with more debt are going to pay less tax because of the large interest expense. Due to large interest expenses, their income before tax reduces.

Hence, large corporate taxes encourage firms to increase the amount of debt. Therefore, the firms with no debt pays higher taxes than the firms with higher amount of debt.

8 0
3 years ago
The principle that allows you to perceive an orange shirt to be the same color under varying lighting conditions is known as:
katrin2010 [14]
<span>This is color constancy. With this ability, a person can perceive and understand that a color exists under various external conditions, usually lighting or other types of distortion. It is thought to be due to specialized neurons in the primary visual cortex that allow us to make these declarations.</span>
3 0
3 years ago
Famous Furniture Manufacturing Company reported the following information for 2019:
AfilCa [17]

Answer:

$255,500

Explanation:

Prepare a Cost of Goods Manufactured Schedule to determine the  cost of goods manufactured.

<u>Cost of Goods Manufactured Schedule</u>

Direct material used                                             $ 75,000

Direct labor                                                           $ 93,000

Applied manufacturing overhead                       $ 70,000

Add Beginning work-in-process inventory        $130,000

Less Ending work-in-process inventory            ($112,500)

Cost of goods manufactured                             $255,500

6 0
3 years ago
Question 3 The owner of a cemetery plans to offer a perpetual care service for grave sites. The owner estimates that it will cos
den301095 [7]

Answer:

$1,083

Explanation:

Given that,

Cost of providing perpetual care service for grave sites = $130 per year

Interest rate = 12 percent

Therefore, the one-time fee the owner should charge:

= Cost of providing perpetual care service for grave sites ÷ Interest rate

= $130 ÷ 0.12

= $1,083.33 or $1,083

Hence, the one-time fee should the owner charge for the perpetual care service is $1,083.

6 0
3 years ago
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