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Lilit [14]
3 years ago
12

Malik Boykin is paid $8.20 per hour. and time and a half for any work over 40 hours

Business
1 answer:
Viefleur [7K]3 years ago
6 0

<u>Pay of Malik Boykin:</u>

Step 1:

Adding the total hours for each week:

Week of 3/10 = 5.5+6+9+12+7 = 39.5

Week of 3/17 = 8+8.5+9+13+4.5+4 = 47

Step 2:

Any sum of 40 hours or less gets multiplied by the hourly salary:

Week of 3/10: 39.5\times\$8.20 = \$323.90 - That's the pay for that week

Week of 3/17: 40\times\$8.20 = \$328

Step 3:

For hours worked over 40 the salary is 1.5 times the normal salary:

\Rightarrow\$8.20\times1.5 = \$12.30

Now multiply the hours over 40 for that week by the time and a half:

\Rightarrow\$12.30\times7 = \$86.10

And adding it to the \$328 we get,

\$328+\$86.10=\$414.10

Therefore,  Week of 3/10: \bold{\$323.90}  and  Week of 3/17: \bold{\$414.10}

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The purpose of a statement of retained earnings is to: __________.
marusya05 [52]

Answer:

To determine the closing balance of retained earnings

Explanation:

First and foremost, retained earnings are an important part of the shareholders' equity. In a bid to ascertain the correct position of total shareholders' equity at year-end, it is important that a statement of retained earnings reconciling the opening retained with net income and dividends declared during the year is prepared.

The balance at the end of the year is the total accumulated earnings which have not been distributed to shareholders as dividends or which may be used to finance projects that increase shareholders' wealth

4 0
3 years ago
The government has the ability to influence the level of output in the short run using monetary and fiscal policy. There is some
Gwar [14]

Answer:

Option B                                  

Explanation:

In simple words, A policy of stabilisation refers to the package or group of indicators that have been presented to normalize a financial sector or economic system. The term may relates to initiatives in two separate situations: convergence of the economic cycle or stabilisation of its credit crunch. It is one type of unilateral strategy in any situation.

    Thus, from the above we can conclude that the correct option is B .

7 0
3 years ago
1. Define business. Explain the functions of business.
kotegsom [21]

\large{ \tt{☄ \: ANSWER}} :

↦ Business is an economic activity that is directed towards acquiring and earning profit and wealth through customer's satisfaction. It plays an important role for the economic development of the country and uplift living standard of the people. Some of the functions of business are described below :

  • Creation of utilities : For the fulfillment of needs of customers , business creates various types of utilities. A business has many components and each component is involved in the creation of the certain utility. For instance : manufacturers create from utility , transportation system created place utility , warehousing time utility and insurance companies risk utility.

  • Generation of employment : Business is a source of employment. Various types of employees are required to a business. In industries , both skilled and unskilled manpower are required for production , distribution and auxiliaries functions. Hence , the development of industry and commerce helps to solve the unemployment problem of a nation.

  • Earning Foreign Currency : Business is the main source of earning Foreign Currency. Foreign currency can be earned by exporting surplus products and services to foreign countries. The development of export trade brings favourable balance in payment.

  • Provides investment opportunities : Business provides investment opportunities to the investors in production and distribution activities. Depending on the nature of investment ; investors receive dividend , interest or other financial benefits. The persons of organizations having sufficient capital can invest their money in production and commercial activities according to their interest , capability and knowledge.

\large{ \tt{✺ \: STUDY \: TIP}} :

  • FEED YOUR BRAIN : Foods like apples , walnuts and blueberries can improve your ability to focus , retain information and remain mentally alert. ♪

ツ Hope I helped! ♡

☼ Have a wonderful day / evening ! ☪

# StayInAndExplore ! ☂

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3 0
3 years ago
On September 21, 2017, Umbrella Company announced a 3 for 1 stock split. After the split, the company will have about 24.6 milli
Lady bird [3.3K]

Answer:

vbnmm

Explanation:

5 0
3 years ago
The following Information applies to the questions displayed below.) Bargain Rental Car offers rental cars in an off-airport loc
butalik [34]

Answer:

a. The variable cost per rental return is $4.04.

b. The monthly fixed cost Incurred to wash cars is $1,376.

Explanation:

Note: See the attached excel file for the calculations of Rental Returns (x), Car Wash Costs (y), xy, and x^2.

Since Σ = Total of or summation of, we can therefore obtain the following from the attached excel file:

Σx = 34,854

Σy = 157,317

Σxy = 462,541,971

Σx^2 = 102,623,516

N = Number of months = 12

a. calculation of variable cost per rental return

To calculate the variable cost per rental return, the following formula is used:

Variable cost per rental return = (NΣxy − ΣxΣy) /((NΣx²) − (Σx)²) ……………… (1)

Substituting the relevant values into equation (1), we have:

Variable cost per rental return = ((12 * 462,541,971) - (34,854 * 157,317)) / (((12 * 102,623,516) - 34,854^2)

Variable cost per rental return = 4.03917240317595

Rounding to 2 decimal places as required, we have:

Variable cost per rental return = $4.04

Therefore, the variable cost per rental return is $4.04.

b. Calculation of monthly fixed cost Incurred to wash cars

To calculate the monthly fixed cost Incurred to wash cars, the following formula is used:

Fixed Cost per month =  {Σy - (Variable cost per rental return * Σx) / N ....... (2)

Substituting the relevant values into equation (2), we have:

Fixed Cost per month = (157,317 - (4.04 * 34,854)) / 12

Fixed Cost per month = $1,375.57

Rounding to the nearest whole dollar amount as required, we have:

Fixed Cost per month = $1,376

Therefore, the monthly fixed cost Incurred to wash cars is $1,376.

Download xlsx
8 0
3 years ago
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