Luis makes $23. 10 per hour at his job for the first 40 hours he works each week. If he works more than 40 hours, then Luis make
1 answer:
The correct statement will be that Luis earns $1131.90 in each week if he works for more than 46 hours at the standard rates of the salary. So, the correct option is C.
The amount can be calculated by the summation of the first 40 hours at the normal rate of salary and the next 6 hours at the increased rate of salary as given in the example above.
- Hourly pay is the rate of salary where the salary is not determined upon the work done in number of hours and does not get determined on the performance during such hours of service.
- We can calculate the rate of salary as using the calculations below,
- Now calculating the salary for the additional 6 hours worked at the newer rate as below using the similar formula,
- We have the values of salaries of both such hours. Now doing the summation of both the salaries we get,
- It is obtained that Luis earned $1131.90 for the week at the different rates of hourly pays as provided.
Hence, the correct option is C that Luis has earned $1131.90 by working 46 hours in a week.
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Solution :
a). The assigned total cost is :
Total overheads $ 500,000
Total hours 250,000
Plantwide overhead rate $ 2
Cost assigned to :
A ( 2 x 4 x 1000) $ 8,000
B ( 2 x 4 x 3000) $ 24,000
b). Department 1 Department 2
Overheads $ 300,000 $ 200,000
Hours 200,000 50,000
Overhead rate $ 1.50 $ 4.00
Overheads for the product A $ 8,500
(1.5 x 3 + 4 x 1) x 1000
Overheads for the product B $ 40,500
(1.5 x 3 + 4 x 1) x 3000
c). Plant wide Departmental
material and labor $ 10 $ 10
overheads $ 8 $ 13.50
Total $ 18.00 $ 23.50
Add: profit $ 7.20 $ 9.40
Selling price $ 25.20 $ 32.90
The difference $ 7.70
Therefore, the increase in the selling price = $ 7.70