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Paraphin [41]
2 years ago
8

A firm agreed to pay its workers ​$2525 an hour in 2016 and ​$4141 an hour in 2017. The price level for these years was 241 in 2

016 and 245 in 2017. Calculate the real wage rate in each year​ (to the nearest​ cent). What is the real wage increase received by these workers in​ 2017?
Business
1 answer:
NemiM [27]2 years ago
8 0

Answer:

(a) 10.4%; 16.73%

(b) 6.33%

Explanation:

Given that,

Wages paid to the workers in 2016 = $25 per hour

Price level in 2016 = 241

Wages paid to the workers in 2017 = $41 per hour

Price level in 2017 = 245

Real wage rate in 2016:

= (Nominal wages ÷ Price level) × 100

= ($25 ÷ 241) × 100

= 0.104 × 100

= 10.4%

Real wage rate in 2017:

= (Nominal wages ÷ Price level) × 100

= ($41 ÷ 245) × 100

= 0.1673 × 100

= 16.73%

Therefore, the real wage increase received by these workers in​ 2017 is calculated as follows:

= Real wage rate in 2017 - Real wage rate in 2016

= 16.73% -  10.4%

= 6.33%

Hence, these workers do get a raise between the two years.

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Rexford Corporation produces three products, with costs and selling prices as follows: Product A Product B Product C Machine hou
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Answer:

$9,400

Explanation:

For computing the maximum contribution margin we need to do following calculations

Contribution Margin

Product A = ($12 ÷3) = 4

Product B = ($5 ÷ 1) = 5

Product C = ($9 ÷ 2) = 4.50

So, the ranking order would be product B > product C > product A

Now

Total machine hours available = 2,100 hours

And,

Time for making 500 units of B

= 500 × 1

= 500 hours

For making 500 units of C, the time taken is  

= 500 × 2

= 1000 hours

So the remaining hours left is

= 2,100 hours - 1,000 hours - 500 hours

= 600 hours  

So, for A the manufactured is

= 600 ÷ 3

= 200

And, finally the Maximum contribution margin  is

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7 0
3 years ago
Mittelstaedt Inc., buys 60 percent of the outstanding stock of Sherry, Inc. Sherry owns a piece of land that cost $207,000 but h
vovikov84 [41]

Answer:

A. $549000

Explanation:

Given information

Number of outstanding stock of Sherry, Inc = 60%

The cost of the land = $207,000

Fair value at the acquisition date = $549,000

By considering the above information, the value reflected in a consolidated balance sheet is $549,000.

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8 0
2 years ago
Assume that a consumer has a given budget or income of $24 and that she can buy only two goods, apples or bananas. The price of
Sindrei [870]

Answer:

12 bananas or 8 apples are needed to purchased

Explanation:

The computation of the number of bananas or the apples is shown below:

Since the income is $24

And, the price of an apple and the price of banana is $3 and $2 respectively

So, the number of bananas is

= $24 ÷ $2

= 12 bananas

And, the number of apples is

= $24 ÷ 3

= 8 apples

Therefore 12 bananas or 8 apples are need to purchased

7 0
3 years ago
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