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forsale [732]
3 years ago
12

Ian Burns is the new payroll accountant for ECG Marketing. Certain employees have been requesting changes in classification from

nonexempt to exempt.
How do the U.S. Department of Labor guidelines help him answer the employees' questions? Select all that apply.

a. Educational level
b. Responsibilities
c. Duties
d. Reimbursement of board, lodging or other facilities availed
e. Job elements
f. Compensation such as discretionary bonus
Business
1 answer:
Nookie1986 [14]3 years ago
8 0

<u>Solution and explanation:</u>

<u>The Fair Labor Standards Act defines three tests that an employee must be eligible to be considered under the 'Exempt' category. </u>

These include the following :

<u>1.Salary Level Test :</u> Employee must be paid minimum of $23,600 per year ($455 per week) to be considered Exempt.

<u>2.Salary Basis Test :</u> The representative must be paid on a Salary Basis, a fixed ensured least installment must be made for any workweek for the playing out any work. This would be dependent upon admissible and impermissible derivations that decide the premise of installment. Special cases to this standard are School educators, Lawyers, Doctors, and some others.

<u>3.Duties Test</u> : The actual jobs performed by the employee must be within the qualified exempt category of high level work. These are broadly classified as Executive, Professional; and Administrative job duties.  

Thus, following out of the above will be considered for the purpose of classification to Exempt employees category:

<u>- Reimbursement of board, lodging, facilities availed </u>

Whether these form part of the compensation structure and the gross payments fall within the ambit of Levels test.

<u>- Compensation such as discretionary bonus </u>

These to be considered as part of Salary and to check whether the payments fall within the above stated levels and also the Basis of these payments whether on continuing salary or otherwise.

<u>-Duties </u>

The actual duties performed to be checked whether these fall within the exempt category.

Thus, the above stated three tests must be cumulatively passed in order to be eligible to classified as 'Exempt' Employee.  

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The amount of utilities cost for July that appears on the flexible budget is12,500*$0.33 = $4.

<h3>Flexible budget </h3>

A flexible budget is one based on different volumes of sales. A flexible budget flexes the static budget for each anticipated level of production. This flexibility allows management to estimate what the budgeted numbers would look like at various levels of sales.

<h3>How do you calculate flexible budget?</h3>

To do this, multiply the total production output by the variable cost of each unit produced. For example, if the total production output is 1,000 products and the variable cost for each unit is $25, the total variable cost is $25,000. You can also calculate average variable costs that are not related to production.

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Suppose that the economy enters into a recession and that, as a result, Rusty Z. Wrench loses his job as a delivery truck mechan
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Answer:

C. Cyclically unemployed

Explanation:

Cyclically unemployed is when workers lose their jobs because of downturns in the business cycle

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3 years ago
Which trade bloc was created to encourage free trade and economiccooperation between Canada, Mexico, and the United States?
Vsevolod [243]

Answer:

B. NAFTA

Explanation:

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Answer:

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A price elasticity of demand can be defined as a measure of the responsiveness of the quantity of a product demanded with respect to a change in price of the product, all things being equal.

Mathematically, the price elasticity of demand is given by the formula;

Price \; elasticity of demand = \frac {Percentage \; change \; in \; quantity \; demanded}{Percentage \; change \;  in \; price}

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Generally, consumers would like to be buy a product as its price falls or become inexpensive.

For substitute products (goods), the price elasticity of demand is always positive because the demand of a product increases when the price of its close substitute (alternative) increases.

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