Given statement:
If the minimum wage from 1961 had been adjusted for inflation, it would be $22 per hour today. The Massachusetts minimum wage will rise to $15 an hour over five years, and a new paid family and medical leave program will be introduced, under a bill Gov. Charlie Baker signed into law. Massachusetts is now the third state — after California and New York — with a pay floor on the way to $15 an hour. The Massachusetts Budget and Policy Center, which advocates for higher minimum wages, has estimated that a quarter of the Massachusetts workforce — about 840,000 workers — would see raises as a result of a $15 minimum wage by 2023. Opponents of higher minimum wages say they just increase labor costs, which force employers to then raise prices and/or cut other wages, benefits or jobs. Some proponents of higher pay floors also worry about the untested $15 minimum in locations outside high-cost labor markets. The new law will also raise the minimum wage for tipped workers, over five years, to $6.75. In addition, the measure — over the same five years — phases out time-and-a-half pay for Sunday and holiday hourly workers. Massachusetts and Rhode Island are the only states that mandate time-and-a-half for Sunday workers.
Explanation:
NEED OF INCREASE IN THE MINIMUM WAGE PER HOUR IS BASICALLY FOR :
- Most skilled workers— which are widely considered middle-class jobs are struggling today to get by with less than $15 an hour and gaining from a minimum wage of $15.
- A 35-year-old woman with certain high-school courses, who is fully active, would benefit from a minimum wage of $15.
- The advantages of gradually reducing the minimum wage by $15 by 2024 are broad, raising wages for the tens of million workers and reversing increasing inequality in terms of pay for decades.
Raise in the minimum wage because,
- Grading the national minimum wage to 15 dollars by 2024 would increase the pay of nearly 40 million workers, representing 26.6% of U.S. staff.
- Affected workers who work every year earn 3000 dollars per year extra— enough to make an enormous difference in the lives of an early teacher, accountant, or fast-food workers who are unable to get to 20,000 dollars per year today.
- The minimum wage in America would be risen to $15 by 2024 for 2/3 (67.3 percent) of the working poor of America.
- A $15 minimum wage will start reversing the increasing pay gap between low-paid and middle class decades. Growing disparity between women at the middle and the bottom of the wage distribution since 1979 reflects, for example, the inability to increase the minimum wage sufficiently since 1979.4 .
- In 2024, a minimum salary of 15 dollars would provide employees with $120 billion in higher pay and help their neighborhoods too. As lower-paid workers spend a large proportion of the extra revenues, this wage injection will help boost the economy and stimulate increased business activity and growth in employment.
The principal benefit is that the country's economy as a whole will gradually grow. In all opportunities and in all changes, the country must rise together.
Answer:
The correct answer is property.
Explanation:
Intellectual property, unlike physical property, is intangible creative work. It refers to the creation of the human mind and intellect. It includes artistic and literary works, inventions and innovations.
There are many types of intellectual property. The main types are
- Copyrights
- Trademarks
- Patents
- Trade secrets
The intangible nature of these properties makes it difficult to manage as compared to physical property.
Answer:
An <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.
Explanation:
Financial statements refers to a statement that that provides formal records of all financial activities and standing of a company or any entity in a structured and easily understandable manner.
For each item of financial statement, an account is kept with the aim of giving a an accurate record of all business activities that are germane to that specific financial statement item.
The purpose of a general ledger is to show individual transactions and resulting account balance of each account of a company as a single collection.
Therefore, an <u>account</u> is maintained for each financial statement item, whereas a(n) <u>general ledger</u> contains all of the accounts of the company.
Answer:
It will be a financial disadvantage of Alternative Y over Alternative X
which menas, alternative X is better as their work is lower.
Explanation:
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Answer:
3.60
Explanation:
Given that,
Sales units = 1,000
Sales price per unit = $60
Variable expenses = 40% of the selling price
Total Fixed cost = $26,000
Contribution margin per unit:
= Selling price - Variable cost
= $60 - ($60 × 40%)
= $60 - $24
= $36
Total contribution:
= Contribution margin per unit × Sales units
= $36 × 1,000
= $36,000
Profit = Total contribution - Fixed cost
= $36,000 - $26,000
= $10,000
Degree of operating leverage:
= (Sales - Variable costs) ÷ (Sales - Variable costs - Fixed Expenses)
= (60,000 - 24,000) ÷ (60,000 - 24,000 - 26,000)
= 36,000 ÷ 10,000
= 3.60
