As part of PSM standards, hazards communication standards require employers of different companies who use hazardous, unsafe and life threatening chemicals "to check, evaluate, classify and label each of those chemicals". These standards are developed and established by OSHA (Occupational Safety and Health Organization).
Answer:
- Yes it is.
- Ethical issue ⇒ Insider Trading.
Explanation:
Trading on the stock exchange is supposed to be as fair as possible so that every investor has a fair chance of making returns. If a person - like this supervisor - is using information that is material but not publicly disclosed yet to trade on markets, the fairness of the market is compromised because the person will have an edge over other investors which will enable them make unfair profits.
Information on quarterly returns is usually material so we can expect it to be material here as well which means that the supervisor is engaged in insider trading.
Insider trading is not only unethical but also highly illegal. Reporting your supervisor can get them sent to jail.
Answer:
1. A basic finding of labor economics is that workers who have more experience in the labor force are paid more than workers who have less experience (holding constant the amount of formal education). True
2. This might be the case because people with more experience have usually had more on-the-job training. True
3. Some studies have also found that experience at the same job (called job tenure) has an extra positive influence on wages. Job tenure is valuable because people gain <u>job-specific knowledge</u> that is useful to the firm.
Explanation:
A worker with more experience means more on-the-job training, this drastically increases the worker's value of the marginal product of labor.
Answer:
3 workers
Explanation:
At optimal point, wage = Price * Marginal Product of Labour (MPL)
When 3 workers are employed,
Since wage is given = 25
And price = 4
When 3 workers are hired, wage is close to price * MPL because wage = 25 and p*MPL = 24
OR
salary paid = $25*3 = $75
Revenue generated = 24*$4= $96
This combination provides the best profit margin which is 96 - 75 = $21.
Answer:
A) $2.50 per direct labor-hour
Explanation:
The computation of the predetermined overhead rate is shown below:
Predetermined overhead rate = (Total estimated manufacturing overhead) ÷ (estimated direct labor-hours)
where,
Estimated manufacturing overhead = Rent on factory building + Depreciation on factory equipment + Indirect labor + Production Supervisor's salary
= $15,000 + $8,000 + $12,000 + $15,000
= $50,000
And, the estimated direct labor hours is 20,000
So, the rate is
= $50,000 ÷ 20,000
= $2.5 per direct labor-hour
