Business, 18.06.2020 15:57 jeremiahjohnsonclapg
There are several criticisms of the minimum wage. Which of the following is not one of those criticisms? The minimum wage a. often hurts those people who it is intended to help. b. results in an excess supply of low-skilled labor. c. prevents some unskilled workers from getting needed on-the-job training. d. fails to raise the wage of any employed person.
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Lynch company manufactures and sells a single product. the following costs were incurred during the company’s first year of operations: variable costs per unit: manufacturing: direct materials $ 12 direct labor $ 6 variable manufacturing overhead $ 1 variable selling and administrative $ 1 fixed costs per year: fixed manufacturing overhead $ 308,000 fixed selling and administrative $ 218,000 during the year, the company produced 28,000 units and sold 15,000 units. the selling price of the company’s product is $56 per unit. required: 1. assume that the company uses absorption costing: a. compute the unit product cost. b. prepare an income statement for the year. 2. assume that the company uses variable costing: a. compute the unit product cost. b. prepare an income statement for the year.
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There are several criticisms of the minimum wage. Which of the following is not one of those critici...
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