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nekit [7.7K]
3 years ago
13

WILL GIVE BRAINLIEST A business owner is aware that the Department of Labor has created rules that require overtime pay for empl

oyees. When he works his employees more than 40 hours in one week, he makes sure that he works them less than 40 hours the following week. The business owner feels that it is fair to average the number of hours worked over the two weeks covered by the pay period and use that number for calculating overtime pay. A representative of the Department of Labor informs him that their regulations do not permit this. Which of the following is true in this situation?
A. The regulations of the Department of Labor are administrative law and must be followed by the business owner.

B. Because the Department of Labor is merely a government agency, their regulations do not have the force of law and can be viewed as guidelines rather than requirements.

C. The regulations of the Department of Labor have no authority over private businesses, only over public corporations.

D. The business owner is only obligated to follow the regulations of the Department of Labor if one of his employees files a formal request.
Business
1 answer:
slega [8]3 years ago
5 0
The correct answer is: A.)
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After major hurricanes like Katrina, many ethical home repair and building supply businesses continue to charge pre-hurricane pr
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Answer:

Demand for home repair and building supply is INCOME ELASTIC

Explanation:

One reason why many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers, even though due to the huge increase in demand they could charge much more. These firms probably recognize that demand for home repair and building supply is INCOME ELASTIC.

Although there was no direct fall in income however the loss of property means a negative impact on already earned income. Hence charging higher prices because of higher demand will be a misunderstanding of the income elasticity of demand.

8 0
3 years ago
A) You observe the following exchange rates in the market.
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Answer: i. €0.11

ii. €1.08

Explanation:

i. If we get 1 krona for every $0.13 then how many krona do we get per dollar?

= 1/0.13

= 7.69 Krona is to $1

If $1 is 7.69 Krona and $1 is also €0.85 then that means that,

€ 0.85 = 7.69 Krona

So for each Krona exchanged, we get how many Euro,

= 0.85/7.69

= 0.11

For each Krona exchanged, we get €0.11

ii. Following the example of the first question,

if £1 is to $1.12 then how many pounds are a dollar?

= 1/1.12

= 0.89

£0.89 is equal to a dollar.

if €1 is to $1.04 then how many euros are a dollar?

= 1/1.04

= 0.96

€0.96 are equal to a dollar.

This means that,

£0.89 = €0.96

So for every British Pound exchanged we get how many Euros?

= 0.96/0.89

= 1.078

= €1.08

For every British pound Exchanged, we get €1.08

6 0
3 years ago
During the first month of operations ended August 31, Kodiak Fridgeration Company manufactured 80,000 mini refrigerators, of whi
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Answer:

1.                     Absorption Costing Income Statement

                         For the month ended May 31, 2016

Sales                                                                     $10,800,000

<u>Cost of goods sold</u>

Beginning inventory                   -

Cost of goods manufactured    $9,600,000

Ending Inventory                         <u>$960,000</u>

Cost of goods sold                                                <u>$8,640,000</u>

Gross margin                                                          $2,160,000

<u>Selling and administrative expenses</u>

$1,080,000 + $180,000                                         <u>$1,260,000</u>

Income from operation                                           <u>$900,000</u>

<u />

2.             Variable Costing Income Statement

               For the month ended May 31, 2016

Sales                                                                            $10,800,000

<u>Variable cost of goods sold</u>

Beginning Inventory                     -

Variable cost of goods manufactured $9,280,000

Ending Inventory                                    $928,000

Variable cost of goods sold                                        <u>$8,352,000</u>

Manufacturing margin                                                  $2,448,000

Variable selling and administrative                             <u>$1,080,000</u>

expenses

Contribution margin                                                     $1,368,000

<u>Fixed Cost:</u>

Fixed manufacturing cost                        $320,000

Fixed selling and administrative              <u>$180,000</u>

expenses

Total fixed cost                                                                <u>$500,000</u>

Income from operation                                                  <u>$868,000</u>

<u />

3. The reason for difference of amount for income from operation is $32,000 ($900,000 - $868,000). It is due to fixed manufacturing cost which is included for ending inventory under absorption costing (320,000 / 80,000 * 8,000). Hence, income under absorption costing is higher by $32,000 as compared to income under variable costing.

8 0
3 years ago
D(&gt;:o)----------|------
Natasha_Volkova [10]

Answer:

OOf..

Explanation:

4 0
3 years ago
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