on january 1, year 1, a company's new ceo was awarded a $200,000 bonus that would be paid out in two $100,000 installments in years 3 and 4 of employment, contingent on employment through the year ended december 31, year 2. what amount should the company expense for this bonus for years 2 and 3?
Answers
The company should expense $100,000 in year 3 and $100,000 in year 4, for a total expense of $200,000 over the two-year period.
Given that a company's new CEO was awarded a $200,000 bonus that would be paid out in two $100,000 installments in years 3 and 4 of employment, contingent on employment through the year ended December 31, year 2.
The bonus is contingent on employment through the year ended December 31, year 2, so the CEO must remain in employment until this date in order to be eligible for the bonus.
As a result, the bonus is not assured and cannot be accrued at December 31, year 1, or year 2, even though it was awarded on January 1, year 1.
Only the year of payment should be accrued by the company. In this scenario, the company should expense the amount of the bonus paid out in year 3 and year 4.
As a result, the company should expense $100,000 in year 3 and $100,000 in year 4, for a total expense of $200,000 over the two-year period. Thus, this is the amount the company should expense for this bonus for years 2 and 3.
Note that the company should also include this bonus in the footnote of its financial statements to notify stakeholders about the contingent bonus.
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Related Questions
how does woolworths make sure that the products they supply do not harm customers
Answers
Woolworths make sure that the products they supply do not harm customers as there-
Advertising and marketing strategy of Woolworths analyses the emblem with the advertising and marketing blend framework which covers the 4Ps (Product, charge, vicinity, merchandising). There are numerous advertising and marketing techniques like product innovation, pricing approach, merchandising making plans and many others. those business techniques, based on Woolworths advertising mix, assist the logo prevail within the market.
Woolworths advertising method allows the emblem/agency to position itself competitively within the marketplace and reap its business dreams & targets. It doesn’t leave the patron disillusioned in relation to choice. The range of merchandise is tested and approved by means of Woolworth experts to keep nice. Woolworths have a diversified product range from bags, rings, furnishings, beddings, housewares to garb and accessories. This varied range has helped the company cater the all-around needs of the customers just like the one prevent save for them.Learn more about Woolworths https://brainly.com/question/28133561
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what new method of buying allowed more americans than ever to buy an automobile?
Answers
The installment buying method allowed more Americans than ever to buy an automobile.
In the early 20th century, the introduction of installment buying revolutionized the way Americans purchased automobiles. Prior to this method, buying a car required paying the full purchase price upfront, which made it unaffordable for many individuals. However, with installment buying, people could make smaller monthly payments over time, making automobile ownership more accessible.
Under the installment buying system, individuals could purchase a car by making a down payment and agreeing to pay off the remaining balance in installments. This allowed Americans to spread the cost of the automobile over a period of time, making it more manageable for their budgets. The availability of installment plans made car ownership a possibility for a larger segment of the population, leading to increased automobile sales and higher vehicle ownership rates.
The convenience and flexibility offered by installment buying played a significant role in expanding car ownership in the United States, enabling more Americans to afford and enjoy the benefits of automobile transportation.
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Sparks Corporation has a cash balance of $12,900 on April 1. The company must maintain a minimum cash balance of $10,500. During April, expected cash receipts are $57,000. Cash disbursements during the month are expected to total $65,500. Ignoring interest payments, during April the company will need to borrow:
$4,400
$6,100
$8,500
$10,500
Sparks Corporation has a cash balance of $12,900 on April 1. The company must maintain a minimum cash balance of $10,500. During April, expected cash receipts are $57,000. Cash disbursements during the month are expected to total $65,500. Ignoring interest payments, during April the company will need to borrow: $4,400 $6,100 $8,500 $10,500
Answers
Based on the given information, the company is expecting cash inflows of $57,000 and outflows of $65,500 for the month of April is $6,100.
Since the minimum cash balance required by the company is $10,500, we need to calculate the shortfall in cash balance.
Expected ending cash balance = Beginning cash balance + Expected cash receipts - Expected cash disbursements
Expected ending cash balance = $12,900 + $57,000 - $65,500
Expected ending cash balance = $4,400
As the expected ending cash balance is less than the required minimum balance of $10,500, the company will need to borrow $6,100 ($10,500 - $4,400) during April to maintain the minimum required cash balance.
Therefore, the correct answer is $6,100.
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What is the first step that he should follow in order to show only the records for items that were sold for more than $1.99?
He should select the Price Paid field and right-click on it, then choose Number Filters.
He should go to the Design tab, click on Group and Sort, then click the Price Paid field.
He should go to the Arrange tab, click on Group and Sort, then choose Number Filters.
He should select the Price Paid field and highlight it, then click on the Filter tab.
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when does a retailer need to carry less backup stock? multiple choice question. when its vendor has a low fill rate when its vendor has a long lead time when there is a high fluctuation in demand when sales are lower than average
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A retailer needs to carry less backup stock when the sales are less than average.
A retailer is a person or establishment where you buy products. Typically, retailers don't produce their own goods. They buy products from a producer or a wholesaler and then sell them in tiny quantities to customers.
We can specifically name several behemoths like Wal-Mart, Best Buy, and Target. These arewell-known names. The smallest kiosks at your neighborhood mall, though, are also retail. Online stores like Amazon, Netflix, and eBay are excellent examples.
A retailer buys in bulk from wholesalers and sells the products in small amounts to clients. A retailer essentially keeps a selection of goods in stock. A retailer's goal is to maximize customer happiness by going above and beyond their expectations and providing great services.
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asking members of an interest group to send a letter to their congressional representatives is:
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Asking members of an interest group to send a letter to their congressional representatives Grassroots Lobbying.
The option (A) is correct.
Grassroots lobbying includes preparing and drawing in people, frequently individuals from general society or allies of an association or cause, to straightforwardly contact and impact their chosen authorities on unambiguous arrangement issues.
Empowering individuals from a vested party to compose letters to their legislative delegates is a typical grassroots campaigning strategy to communicate their perspectives and worries on official matters. It plans to use the aggregate voice and impact of constituents to advocate for specific approaches or changes in existing regulations.
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This question is not complete, Here I am attaching the complete question:
Asking members of an interest group to send a letter to their congressional representatives is:
(A) Grassroots Lobbying
(B) interest groups
(C) the party-in-the-electorate
explain briefly how a higher carrying cost can result in a decrease in inventory
Answers
A higher carrying cost can lead to a decrease in inventory. When the carrying cost of holding inventory increases, it becomes less profitable for businesses to maintain high levels of inventory.
Carrying cost refers to the expenses associated with holding and storing inventory over a specific period. It includes costs such as warehousing, insurance, obsolescence, the opportunity cost of capital, and potential spoilage or damage. When the carrying cost rises, businesses face increased expenses for keeping inventory in stock.
To optimize profitability, businesses may respond to higher carrying costs by reducing their inventory levels. By decreasing the quantity of inventory they hold, they can minimize holding expenses. This approach helps prevent potential losses due to inventory obsolescence, deterioration, or storage-related costs.
Reducing inventory levels can also improve cash flow by freeing up capital that would otherwise be tied up in inventory. However, it's important for businesses to strike a balance and ensure they maintain adequate inventory levels to meet customer demand and avoid stockouts that could harm sales and customer satisfaction.
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Draw a correctly labeled graph of a housing market in equilibrium. On your graph, illustrate an effective legal limit (ceiling) on rent. Identify the quantity of housing demanded, the quantity of housing supplied, and the size of the resulting surplus or shortage.
Answers
Answer:
In the first picture I uploaded, I show the housing market equilibrium without any effective legal ceilings on rent. In this equilibrium, the quantity demanded and the quantity supply reach an equilibrum of 70, at a price of $1,100 per rent.
In the second picture I uploaded, we can see the price ceiling in red. The price ceiling does not allow the rent to reach equilibrium, which causes a demand of eighty houses, but a supply of sixty houses, leading to a housing shortage of 20 houses.
write the answers down like this pleaseeeeee
''1)??''
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The definition of the terms in the image is given below as they are correctly matched:
The Definition of the termsAsset: An asset is any resource or property that has value and can be owned by a person, business or organization. Examples of assets include cash, property, investments, inventory, and equipment.
Debit: A debit is an accounting entry that represents an increase in assets or a decrease in liabilities or equity. In double-entry bookkeeping, a debit entry is recorded on the left-hand side of an account ledger.
Credit: A credit is an accounting entry that represents an increase in liabilities or equity or a decrease in assets. In double-entry bookkeeping, a credit entry is recorded on the right-hand side of an account ledger.
Capital: Capital refers to the money invested in a business by its owners or shareholders. It can also refer to the assets owned by a business that can be used to generate income.
Liabilities: Liabilities are debts or obligations owed by a business to other parties. Examples include loans, accounts payable, and taxes owed.
Cash payments: Cash payments refer to any money paid out by a business or individual for goods, services, or other expenses.
Profit: Profit is the amount of money that a business earns after subtracting all of its expenses from its revenue.
Cash receipts: Cash receipts refer to any money received by a business or individual for goods, services, or other income.
Owner's equity: Owner's equity represents the residual value of a business after all liabilities have been paid off. It is the value of the assets that the owner or owners of the business can claim as their own.
Transactions: Transactions refer to any exchange of goods or services that takes place between two or more parties.
Sole trader: A sole trader is a business owned and operated by a single person.
Income: Income refers to any money earned by a business or individual from the sale of goods or services.
Expenses: Expenses refer to any money spent by a business or individual in order to generate income or operate a business.
Accounting equation: The accounting equation is a fundamental principle of accounting that states that assets must always equal liabilities plus owner's equity.
Loss: A loss occurs when a business's expenses exceed its revenue, resulting in a negative net income.
Bank: A bank is a financial institution that accepts deposits from customers and provides loans and other financial services.
Subsidiary journal: A subsidiary journal is a book of accounts that records transactions for a specific type of transaction, such as purchases or sales. It is used to simplify the process of recording transactions in the general ledger.
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A consumer who is willing to pay more for a pre-assembled piece of furniture as opposed to a cheaper piece of furniture that has to be put together after purchase recognizes the item’s
A: Real value
B: Perceived value
C: Form utility
D: Possession utility
Answers
The consumer's willingness to pay more for a pre-assembled piece of furniture rather than a cheaper piece that requires assembly recognizes the item's B: Perceived value.
Perceived value refers to the subjective assessment of a product's worth or utility based on an individual's perception and preferences. It represents the consumer's belief in the benefits and value they expect to receive from a product or service. In the given scenario, the consumer's willingness to pay more for a pre-assembled piece of furniture indicates that they perceive higher value in the convenience and ease of having the furniture already assembled.
A. Real value:
Real value typically refers to the objective or intrinsic value of a product, often determined by its features, specifications, and tangible attributes. While the consumer may recognize the real value of the pre-assembled furniture in terms of its convenience and time-saving aspect, the question specifically asks about the consumer's perception, indicating that perceived value is a more suitable answer.
C. Form utility:
Form utility refers to the value added to a product by changing its physical form or enhancing its appearance to better satisfy consumer needs or preferences. While pre-assembled furniture may offer improved form utility in terms of ready-to-use convenience, the question focuses on the consumer's perception rather than the product's physical attributes.
D. Possession utility:
Possession utility refers to the value created by making a product easily accessible and available to consumers when and where they desire it. While pre-assembled furniture may provide possession utility by being readily available for immediate use, the question emphasizes the consumer's willingness to pay more, indicating that it is their perception of value that is being addressed.
the consumer's willingness to pay more for a pre-assembled piece of furniture indicates that they perceive higher value in its convenience and ease of use. This recognition of value aligns with the concept of perceived value, making option B, "Perceived value," the most appropriate choice in this scenario.
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Access the FASB Accounting Standards Codification at the FASB website (www.fasb.org). Determine the specific eight- or nine-digit Codification citation (XXX-XX-XX-XX) for accounting for each of the following items:
Required:
1. Disclosure requirements for maturities of long-term debt.
2. How to estimate the value of a note when a note having no ready market and no interest rate is exchanged for a noncash asset without a readily available fair value.
3. When the straight-line method can be used as an alternative to the interest method of determining interest.
Answers
A line is a geometry object characterized under zero width object that extends on both sides. A straight line is just a line with no curves. So, a line that extends to both sides to infinity and has no curves is called a straight line.
1. The specific eight-digit Codification citation for disclosure requirements for maturities of long-term debt is 23500050.
2. The specific nine-digit Codification citation for estimating the value of a note when a note having no ready market and no interest rate is exchanged for a noncash asset without a readily available fair value is 815-15-25-4.
3. The specific nine-digit Codification citation for when the straight-line method can be used as an alternative to the interest method of determining interest is 835-30-35-1.
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An unsecured loan...
typically has lower interest rates than a secured loan
is less difficult to qualify for than a secured loan
is connected to collateral, which can be taken by the lender if the loan is not paid
is not connected to collateral and, therefore, a higher risk for lenders
Answers
Answer:
is not connected to collateral and, therefore, a higher risk for lenders
Explanation:
Unsecured loans are the loans issued without any securities attached to them. The lender relies on the borrower's creditworthiness as the basis for granting the loan. Unsecured loans are mostly available to salaried workers whose pay is processed by the lending institutions.
Unsecured loans pose a higher risk to the lender because they are not backed by any collateral. For this reason, they attract a higher interest rate than secured loans.
Answer:
D
Explanation:
took the test
Eliza Conner owns a small clothing boutique. Eliza uses her personal checking account for both business and personal needs. How would you convince Eliza that she should open a separate
bank account for her business?
Answers
Answer:
1. It will cause them confusion throughout the tax calculating process.
2. Using a single account will make it difficult to keep payroll records.
3. Keep track of your personal expenses and earnings.
Explanation:
1. It is preferable to establish a separate account to separate the firm's actual income and expenses.
2. Payroll expenses are indistinguishable from personal expenses.
3. This allows you to cross-check bank and hand-made documents for income and expenses. Because cash transactions may not be recorded in the bank account, the entrepreneur should preserve receipts in order to compute revenue and expenses, which may result in erroneous financial statements.
Gemini group ordered motor tune ups and oil changes on their entire fleet of company vehicles in the third quarter. How should this expense be recorded?.
Answers
In the third quarter, Gemini Group placed orders for oil changes and motor tune-ups for their entire fleet of company vehicles.be recorded as a revenue expenditure for this expense.
Cost, salvage value, and useful life are the determinants of depreciation.
Short-term expenses used in the current period or typically within a year are referred to as revenue expenditures.Revenue expenditures (OPEX) are essentially the same as operating expenses (OPEX) because they include the costs necessary to cover a company's ongoing operational costs.
Give an example of revenue expense.
The term "revenue expenditure" refers to expenses incurred by a company during normal business operations that will result in a profit during the same period. Examples of revenue expenditures include rent, utility bills, salary, insurance, commission, manufacturing, and others.
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Reflect on the section Planning and Executing Change Effectively, in Chapter 7 of the text. Summarize the key steps in planning and executing change in a 500 word journal entry
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Planning and executing change is an essential aspect of any successful organization. It is necessary to remain competitive and adapt to the changing environment. The process of change can be challenging and stressful, but with proper planning and execution, it can lead to growth and success. In Chapter 7 of the text, we learned about the key steps involved in planning and executing change effectively.
The first step is to establish a clear vision for the change. This involves identifying the need for change, defining the desired outcome, and communicating it to all stakeholders. A clear vision helps in aligning everyone towards a common goal and sets the stage for a successful change effort.
The second step is to assess the organization's readiness for change. This involves identifying the strengths and weaknesses of the organization, evaluating the resources required for the change effort, and assessing the level of support from the stakeholders. It is crucial to understand the organization's readiness for change to plan and execute it effectively.
The third step is to develop a comprehensive plan for the change effort. This involves identifying the specific steps required to achieve the desired outcome, assigning responsibilities to the stakeholders, and developing a timeline for the change effort. A comprehensive plan helps in ensuring that everyone is on the same page and helps in tracking progress.
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what is business and what is occupation
Answers
Answer:
Business:
A person's regular occupation, profession, or trade.
Occupation:
A job or profession.
Explanation:
I looked them up in a dictionary.
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In a(n) __________, an inexperienced worker learns by working alongside an experienced employee to master the skills and procedures of a craft
Answers
In a(n) apprenticeship, an inexperienced worker learns by working alongside an experienced employee to master the skills and procedures of a craft
Blackmon Brothers law firm used 165 legal pads over the last three weeks (15 days). It takes them three days to get more, and they want to keep two day's worth as a safety stock. How low can their stock get before they need to order more?
Answers
Answer:
55 legal pads.
Explanation:
The level at which Blackmon Brothers should order more legal pads is the re-order point.
The calculate re-order point, we require
Average daily usage
Delivery lead time
Safety stock is needed.
For Blackmon, Average daily usage will be 165 divided by 15 days
=165/15
=11 legal pads per day.
Lead time is 3 days
Formula for getting the re-order point
= (average daily usage x delivery time) + requires safety stock
For Black man
= (11 x 3)+ (11 x 2)
=33 + 22
=55 legal pads.
They should re-order when they have a balance of 55 legal pads.
Select the items that are needs from your bank statement. ABC BANK Available Balance $230.00 Cell phone plan$45 Rent$400 Car insurance$60 Backpack$10 Electric bill$60 Car payment$250 Submit
Answers
Answer:everything but the backpack
Explanation:
Should citizens participating in
criminal trials should have some requirements such as someone who
has a degree? Or someone who makes at least $20,000 per year? Why
or why not?
Answers
Citizens participating in criminal trials should not be required to have a degree or make a certain amount of money per year. This is because such requirements would create inequalities in the justice system and violate the principle of equal protection under the law that is enshrined in the US Constitution.
First, requiring citizens to have a degree in order to participate in criminal trials would discriminate against those who cannot afford higher education. This would create an unfair advantage for those who are more affluent and better-educated, and it would prevent many people from serving on juries or as witnesses.
Secondly, requiring citizens to make a certain amount of money per year would also create inequalities. Poorer citizens would be excluded from participating in criminal trials, which would violate their rights to equal protection under the law. Moreover, wealth is not necessarily a measure of a person's ability to serve as a juror or a witness. A person's income level does not necessarily correlate with their intelligence, education, or integrity
.In conclusion,citizens should not be required to have a degree or make a certain amount of money per year in order to participate in criminal trials. Doing so would violate the principle of equal protection under the law, create inequalities, and prevent many people from participating in the justice system.
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An investor purchased a bond classified as a long-term investment between interest dates at a discount. at the purchase date, the carrying amount of the bond is more than:_________
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An investor purchased a bond classified as a long-term investment between interest dates at a discount. at the purchase date, the carrying amount of the bond is more than the cash paid to seller (No) and face amount of bond (No).
What is investment?An investment can be defined as a method used in creating more wealth or income.
So therefore, an investor purchased a bond classified as a long-term investment between interest dates at a discount. at the purchase date, the carrying amount of the bond is more than the cash paid to seller (No) and face amount of bond(No).
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Help answer these two questions pleaseee
1. Across the course, you've learned about many other desktop publishing software programs besides PowerPoint. Identify at least two other technologies available for desktop publishing (the software can be presentation-based, word processing, spreadsheet software.etc.). What are some common features across PowerPoint and these other programs?
2. What are 2 differences that could be expected in how an employee would speak to other staff members in a truly flat organizational structure compared to a hierarchical structure?
Answers
Answer:
1.
At least two other technologies available for desktop publishing:
Microsoft WordMicrosoft ExcelMicrosoft PublisherCommon features across PowerPoint and the above programs:
These programs are all part of the Microsoft 365 (formerly Microsoft Office) suite of software tools. They are available for both personal and professional use. All programs use a subscription model. They are designed to be compatible across Microsoft's entire product line and allow for instant collaboration among multiple registered users.
2.
Two differences in how an employee might speak to other staff members in a flat organizational structure versus a hierarchical structure:
Less expectation of formality: speech would likely be delivered in a more casual manner and tone among many staff membersAn increase in dialogue: a reduction or elimination of middle management necessitates increased collaboration among staffMario Gillespie owns 200 shares of Asset Investment
Corporation. He paid $32.75 per share. Asset Investment
pays a $5.00 per share dividend.
a. What is the total annual dividend?
b. What is the annual yield?
Answers
Answer:
A.
Explanation:
$1000
The total annual dividend is $1000.
The annual yield is 15.26%
What are shares?A share can also refer to something like a unit of an unit trust, a limited partnership, or a property investment trust. A share is a quantity of shareholdings in the financial assets of a firm. The term "share capital" describes all of an organization's shares.
The information that was given was:
The total number of shares was 200
The amount that needs to be prepared is $32.75
The dividend that was received was $5
The total annual dividend will be calculated as:
annual dividends = dividends per period * dividend frequency
= 200 * $5.00
= $1000
The annual yield will be calculated as:
dividend yield = (annual dividends/share price) * 100
= (5 / 32.75)*100
= 0.1526 * 100
= 15.26%
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A future-interest gift requires that a gift return be filed regardless of the value of the gift.
T/F
Answers
The correct option is False.
A future-interest gift does not require the filing of a gift return unless the value of the gift exceeds the annual exclusion amount set by the Internal Revenue Service (IRS). The annual exclusion amount is the maximum value of gifts that an individual can give to another person without triggering gift tax consequences. As of 2021, the annual exclusion amount is $15,000 per recipient.
If the value of the future-interest gift is below the annual exclusion amount, there is no requirement to file a gift return. However, if the value exceeds the annual exclusion amount, the donor is required to file a gift tax return to report the gift and potentially pay gift tax on the excess amount.
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The first thing that the customer needs to do to take a loan is
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HELP ASAP!!!
A ____ is a person who notices an unethical activity in his or her workplace and decides to inform the authorities about it.
Answers
The term you are looking for is whistleblower. A whistleblower is an individual who reports any illegal or unethical activity or wrongdoing within their organization or workplace to the relevant authorities.
It takes a lot of courage and bravery to be a whistleblower as they risk facing retaliation and backlash from their colleagues and superiors. Whistleblowers play a crucial role in maintaining transparency and accountability in organizations.
They help to uncover and prevent fraudulent activities, corruption, and other malpractices that may harm the company, its employees, or stakeholders. Their actions help to promote ethical conduct and ensure that businesses operate with integrity and honesty.
In many countries, there are laws that protect whistleblowers from retaliation and provide them with legal remedies if they face any form of retaliation or discrimination. These laws encourage employees to come forward and report any misconduct or wrongdoing they may witness in their workplace.
In conclusion, whistleblowers are important to ensure that organizations operate in a transparent and ethical manner. They are crucial in uncovering and preventing fraudulent activities, corruption, and other malpractices that may harm the company and its stakeholders.
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What question is being asked in this word problem? what is the regular price of the skirt? how much money does jill have left? how much does the t-shirt normally cost? what is the amount jill pays in sales tax?.
Answers
The question that is being asked in this text problem is "How much does the T-shirt normally cost?". Thus, the correct answer is C.
The problem states that Jill bought a skirt that was on sale for half price, and a T-shirt that was $8 off its regular price. The total cost of the clothes before sales tax is given as $31, and the goal of the problem is to find the regular price of the T-shirt, which is not given directly. The other options (A, B, and D) are not asked in the problem and do not pertain to finding the regular price of the t-shirt.
Regular price refers to the original or standard price of a product before any discounts or promotions are applied. It is the price that the product typically sells for and is often used as a comparison point when a sale or special offer is being promoted. For example, a store may advertise that a product is on sale at 50% off its regular price, which means that the price has been reduced by half of what it typically sells for.
This question should be provided as:
Jill had $90. She purchased a skirt that would normally cost $42 but was on sale for half the price. She also bought a T-shirt that was $8 off its regular price. Before sales tax, the total cost of the clothes was $31. What was the regular price of the T-shirt? What question is being asked in this word problem?
(A). What was the regular price of the skirt?(B). How much money did Jill have left?(C). How much does the T-shirt normally cost?(D). How much did Jill pay in sales tax?Learn more about selling price here: brainly.com/question/26008313
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How might the dying out of other languages due to the global growth of English affect international business? Explain whether you think this language loss will positively or negatively impact international business.
Answers
The dying out of other languages due to the global growth of English may create communication barriers between companies that speak different languages.
How is the global growth of English going to affect the world ?On the positive side, the far reaching utilize of English can make it simpler for companies to communicate and do commerce with each other. English has ended up the lingua franca of worldwide trade, and its dominance has encouraged the development of worldwide exchange and speculation.
Be that as it may, the dominance of English may too have negative results. It may lead to the misfortune of social differing qualities and the concealment of minority dialects. This seem have social and financial impacts on communities that are marginalized or avoided from the worldwide economy.
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Marianne was a computer programmer making almost $170,000 a year at a rate of $80 an hour for Big Tech. Ginger, her boss, demanded that she work 100 hours of overtime over the next month until a large project was complete. Marianne believes she is entitled to 100 hours of overtime pay. Under the Fair Labor Standards Act, how much overtime pay is she entitled to
Answers
Under the Fair Labor Standards Act, Marianne is entitled to $12,000 for overtime pay.
What is the overtime rate under the Fair Labor Standards Act?Under the Fair Labor Standards Act, the overtime rate is a time and a half.
Data and Calculations:Annual salary = $170,000
Rate per hour = $80
Overtime rate per hour = $120 ($80 x 1.5)
Overtime hours = 100 hours
Overtime pay = $12,000 (100 x $80 x 1.5)
Thus, under the Fair Labor Standards Act, Marianne is entitled to $12,000 for overtime pay.
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How are scarcity and the laws of supply and demand connected?
Answers
Answer:
Scarcity and supply and demand are connected because they determine how much the product costs. First of all, scarcity describes supply. If a product is scarce and demand is high, the supplier would raise the costs for the product, but if there is plenty of supply, and low demand, the supplier would decrease the costs.