Answer:
1. $2,296
2. $19.58
3. Total labor cost = Fixed cost + (variable cost × employee hour)
Explanation:
The computations are shown below:
1. The fixed cost would be
= High labor cost - (High employee hours × Variable rate per hour)
= $10,324 - (410 hours × $19.58)
= $10,324 - $8,028
= $2,296
2. Variable rate per hour = (High labor cost - low labor cost) ÷ (High employee hours - low employee hours)
= ($10,324 - $6,800) ÷ (410 hours - 230 hours)
= $3,524 ÷ 180 hours
= $19.58
3. The cost formula would be
Total labor cost = Fixed cost + (variable cost × employee hour)
= $2,296 + ($19.58 × employee hour)
Answer: Reduce output
Explanation:
According to the given question, the barrel O' Biscuits is one of the type of perfectly competitive organization in which its overall marginal cost increasing the company's marginal revenue.
For maximizing the profit of an organization then we should reduce the output as in the perfect competition the company majorly affected the output only and for shift the overall marginal cost of the company we reducing the output.
Therefore, Reduce output is the correct answer.
I guess the correct answer is legal
U.S.-based Royal Corporation is hesitant about entering into a licensing agreement with Hexagon, Inc., a company from the Monaslu Republic, due to the likelihood that Hexagon will opportunistically break a contract or expropriate property rights. The type of risk Royal Corporation trying to avoid is legal.
Lеgal risk is thе risk οf financial οr rеputatiοnal lοss that can rеsult frοm lack οf awarеnеss οr misundеrstanding οf, ambiguity in, οr rеcklеss indiffеrеncе tο, thе way law and rеgulatiοn apply tο yοur businеss, its rеlatiοnships, prοcеssеs, prοducts and sеrvicеs.
