Answer:
$290
Explanation:
Fair labour standards act is a Federal law that specifies minimum wage, overtime pay eligibility, child labour standards, and record keeping which affects employees of both private and government institutions.
The Fair labour standards act state that the minimum wage an employee should collect per hour is $7.25.
So for a 40 hour week the minimum wage for Ben Lieber is 7.25* 40= $290
Provisions for FLSA include minimum wage payment, exemption from overtime, minimum wage for workers that provide companionship services, and exemption for worker that do computer related jobs.
The answer is credit limit
Answer: D. $20
Explanation:
Total cost to produce 50 cookies = Total cost to produce 100 cookies - Marginal cost to produce 50 cookies
Total cost to produce 100 cookies is:
= Average total cost * number of cookies
= 0.25 * 100
= $25
Marginal cost to produce 50 cookies is:
= Constant marginal cost * number of cookies
= 0.10 * 5
= $5.00
Total cost to produce 50 cookies = 25 - 5
= $20.00
Answer:
a. As per the situation sales exceed production absorption costing income from operations is lesser than variable costing income from operations.
b. $776,160
Explanation:
a. As per the situation sales exceed production absorption costing income from operations is lesser than variable costing income from operations
b. Given that
Beginning inventory = 52,800
Fixed manufacturing costs = $14.70 per unit
Total Beginning inventory = Beginning inventory × Fixed manufacturing costs
= 52,800 × $14.70 per unit
= $776,160
Answer:
Economic integration agreement is when countries within a particular geographical area decide to remove or relax tariff or non-tariff barriers to trade between themselves and also to coordinate and harmonize their fiscal and economic policies. Free trade area is the simplest form of an economic integration; it is when governments of member countries agree to remove trade restriction between each other and when member countries are given the freedom to determine their own external trade policies towards non-members.
Supporters of free trade area argue that it is beneficial to the country based on the trade creation argument. Trade creation is where high-cost domestic production is replaced by more efficiently produced imports from within the group; that is, more expensive domestic products are replaced by lower priced imports from countries within the group. The trade creation argument is hinged on the fact that a free trade area ensures that trade is generated over and above what would otherwise have happened if there was no integration. Further, the removal of tariffs allows members to specialize in those products for which they have a comparative advantage leading to a variety of cheap imports for domestic consumers, thereby increasing living standards or welfare gains. Trade creation also creates an incentive for high cost domestic producers to cut cost so as to remain competitive thereby enhancing efficiency.
On the other hand, a free trade area is criticized on the basis of trade diversion. This is where trade with a low-cost country outside the group is influenced by higher–cost products supplied from within the group; this results in a less efficient allocation of resources as trade from outside the group is replaced by trade from within the group. Trade diversion could mean that local consumers would have to buy products at less competitive prices. Another argument would be that a free trade area would lead to a removal of tariff between member countries thereby resulting in a cessation of government revenue from tariffs. As opposed to a free trade area, free trade would increase world output and employment, raise quality and lower prices of goods as firms have access to factor inputs; it will also increase world living standards or enhances welfare gains. A free trade agreement only restricts these potential advantages to a particular geographical space.
Explanation:
