Answer:
Standard rate per direct labor-hour = $15.9355
Explanation:
Given:
labor wage = $10.95 per hour
Employment tax rate = 9%
Fringe benefit = $4.00 per-hour
Standard rate per direct labor-hour = ?
Computation of standard rate per direct labor-hour:
Employment tax = labor wage × Employment tax rate
Employment tax = $10.95 per hour × 9%
Employment tax = $10.95 × 0.09
Employment tax = $0.9855
Standard rate per direct labor-hour = labor wage + Employment tax + Fringe benefit
Standard rate per direct labor-hour = $10.95 + $0.9855 + $4.00
Standard rate per direct labor-hour = $15.9355
Answer:
One person's spending is another person's income
Explanation:
The economic principle that this statement best represent is one person's spending is another person's income as this refers to the fact that when someone buys a product or service, the money paid represents earnings for the person that owns the business and the employees. In this case, the typewriter shop went out for business because people is not spending money in typewriters and because of that, Alfred doesn't get any income.
Yes definitely. If the cost of an item is worth the same as the selling price, then you will not earn anything. Basically, the selling price already has the markup, so the selling price is definitely supposed to be higher than the cost of the item. For example, I bought a TV for 30 dollars. I would want to sell it at a selling price of 70 dollars. The difference of 40 dollars is my markup. The markup can also be expressed as a percentage if you divide the difference with the selling price.
Answer:
57.5
Explanation:
I divided 2,300 by 40 which gave me 57.5
Answer:
58%
Explanation:
For computing the economic growth first we have to determine the change in nominal GDP i.e gross domestic product growth rate which is shown below:
Change in nominal GDP growth rate is
= (GDP as on 2015 - GDP as on 2010) ÷ GDP as on 2010 × 100
= ($15 billion - $10 billion) ÷ $10 billion × 100
= 50%
Now
Economic growth is
= Change in nominal gdp growth rate + decreased in price level - increased in population
= 50% + 10% - 2%
= 58%