Question
In: Accounting
Factory workers at a company are paid a wage of $15 per hour. In addition, the...
Factory workers at a company are paid a wage of $15 per hour. In addition, the company pays benefits (vacation leave, sick leave, health insurance, etc.) equal to 75% of a worker’s base wage for a 40-hour week. Workers are paid 1.5 times the hourly rate for any overtime hours worked in excess of 40 hours during a week, but no additional benefits are paid for overtime work.
a) How much wages will a worker receive for working 40, 42, 44, 46, 48, and 50 hours during a week? What would be the worker’s average hourly pay? Show both in table and in graph form.
b) What would be the company’s cost
for a worker who works 40, 42, 44, 46, 48, and 50 hours during the
week? What would be the company’s average hourly cost? Show both in
table and graph form.
c) What can you say about the worker’s average hourly pay compared
to the company’s average hourly cost? What are the
implications?
Solutions
ekkarill92 answered 2 years agoRelated Solutions
Factory workers at a company are paid a wage of $15 per hour. In addition, the...
Factory workers at a company are paid
a wage of $15 per hour. In addition, the company pays benefits
(vacation leave, sick leave, health insurance, etc.) equal to 75%
of a worker’s base wage for a 40-hour week. Workers are paid 1.5
times the hourly rate for any overtime hours worked in excess of 40
hours during a week, but no additional benefits are paid for
overtime work.
a) How much wages will a worker
receive for working 40, 42,...
Factory workers at a company are paid a wage of $15 per hour. In addition, the...
Factory workers at a company are paid
a wage of $15 per hour. In addition, the company pays benefits
(vacation leave, sick leave, health insurance, etc.) equal to 75%
of a worker’s base wage for a 40-hour week. Workers are paid 1.5
times the hourly rate for any overtime hours worked in excess of 40
hours during a week, but no additional benefits are paid for
overtime work.
a) How much wages will a worker
receive for working 40, 42,...
A Hypothetical downtown Halifax factory has two types of workers, skilled, paid $25 per hour, and...
A Hypothetical downtown Halifax factory has two types of
workers, skilled, paid $25 per hour, and unskilled paid $15 dollars
per hour. There are 100 females and 100 males in the labour force
with identical distribution between skilled and unskilled workers.
Initially there is no discrimination based on gender.
Sketch two supply and demand graphs to reflect these two groups
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What explanation would you give with...
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A minimum wage law that stipulates $25 per hour for
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(b)A non-binding price floor
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(d)Going to increase consumers’ surplus
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The population mean wage rate for workers at General Motors is $17.26 per hour. Assume the...
The population mean wage rate for workers at General Motors is
$17.26 per hour. Assume the population standard deviation is $2.00.
Suppose we have a random sample of 50 workers from the population
of workers at General Motors. In the sample of 50 workers, the mean
wage was $15 per hour.
1) Describe the sampling distribution of the sample mean.
(Include the 3 parts: center, dispersion, and shape).
2) What is the probability that in a new sample of 50...
Each of the five (5) workers in a factory is being paid $250 per day. For...
Each of the five (5) workers in a factory is being paid $250 per
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"If the federal minimum wage is raised gradually to$15-per-hour by 2020, the employment rate for...
"If the federal minimum wage is raised gradually to
$15-per-hour by 2020, the employment rate for low-wage U.S. workers
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quo."Create a 3-4 page paper in which you indicate your
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What are positive and negative effects of Amazon raising its
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Should the province of Nova Scotia increase it’s minimum wage to $15 per hour? Write a...
Should the province of Nova Scotia increase it’s minimum wage to
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19. Consider a household where the husband can earn a market wage of $15 per hour...
19. Consider a household where the husband can earn a market
wage of $15 per hour and has a marginal productivity in the
household that is the equivalent of $12. The wife can earn a market
wage of $20 and has a marginal productivity in the household that
is the equivalent of $15. Suppose initially that their marginal
household productivities do not depend on the time that the
otherspouse spends at home.
19a. If the couple decides to have only...
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