Question 4. A recent article in the Wall Street Journal (wage law) described a California law that would raise the minimum wage for the state's fast-food industry to as high as $22 an hour in 2023. How would this law affect the demand for robots in California's fast-food industry?
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- 1) Portsmouth is considering paying its upholstery laborers hourly compensation, in addition to their usual salaries, to work overtime. Assuming that this extra time would be used to produce sofas, up to how much of an overtime premium per hour should the company be willing to pay to keep the upholstery shop open after normal working hours? 2) A small nearby upholstering company has offered to upholster furniture for Portsmouth at a fixed charge of $51 per hour. The management of Portsmouth is confident that this upholstering company’s work is high quality and their craftsmen can work as quickly as Portsmouth’s own craftsmen on the simpler upholstering jobs such as the Love Seat. How much additional contribution margin per hour can Portsmouth earn if it hires the nearby upholstering company to make Love Seats?Use the following information to answer questions 11 and 12:Friedrich’s Bakery (“Friedrich’s”) bakes and sells bread and biscuits. Friedrich uses a lot of freerange eggs (“eggs”) in his bakery and is trying to figure out what the most economic order quantitywill be. Friedrich estimated that he will need on average 80 eggs per day for the 250 days that heintends to bake during the 2021 financial year. He also calculated that it costs him R0,05 per eggper annum to keep the eggs fresh and safely stored. Friedrich is requiring a return of 10% perannum on his investment in the business and purchases the eggs at R3,00 each.His friend, Tsakane, gives Friedrich a discounted rate of R50 ordering cost for each order thatFriedrich places at Tsakane Farming. Friedrich buys all the required eggs exclusively from TsakaneFarming and incurs no internal ordering costs other than the discounted cost per order charged byTsakane.Tsakane Farming uses custom-made packaging cartons that are not similar to…In an effort to keep low-wage workers' salaries commensurate with the cost of living, a number of states have amended their constitutions to allow the minimum wage to be adjusted with inflation. You are the accountant for a company that owns a chain of 12 fast food restaurants in a state which adjusts the minimum wage for inflation. Each restaurant employs 25 workers, each averaging 20 hours per week at the current federal minimum wage, $7.25 per hour. (a) How many hours at minimum wage are paid out each week by the company? (b) At the current rate of $7.25 per hour, what is the amount (in $) of the weekly "minimum wage" portion of the restaurant's payroll? (c) If the inflation rate this year is 0.7%, calculate the "adjusted" minimum wage rate (in $ per hour) to be paid next year. (Round your answer to two decimal places.) (d) How much in "additional wages" will the company have to pay out next year at the adjusted rate (in $)? (Round your answer to the nearest dollar.)
- Maria Stevens is calculating the break-even point in number of customers to be achieved in 2024 in the newly opened Ancora, Peruvian restaurant in Yale Town, where she works as a manager. She knows that the variable cost per unit in this restaurant is $5.65, and the average selling price per unit is $15.40. The fixed costs are forecasted to be $143,060.60. What will be the breakeven number of customers in this restaurant in 2024? Show the full calculation and round all results to two decimal places unless they naturally round up to one decimal place or a whole number. Round the final result to a whole number.In an effort to keep low-wage workers' salaries commensurate with the cost of living, a number of states have amended their constitutions to allow the minimum wage to be adjusted with inflation. You are the accountant for a company that owns a chain of 14 fast food restaurants in a state which adjusts the minimum wage for inflation. Each restaurant employs 25 workers, each averaging 20 hours per week at the current federal minimum wage, $7.25 per hour. (a) How many hours at minimum wage are paid out each week by the company? hr (b) At the current rate of $7.25 per hour, what is the amount (in $) of the weekly "minimum wage" portion of the restaurant's payroll? $ (c) If the inflation rate this year is 0.7%, calculate the "adjusted" minimum wage rate (in $ per hour) to be paid next year. (Round your answer to two decimal places.) $ per hour (d) How much in "additional wages" will the company have to pay out next year at the adjusted rate (in $)? (Round your answer to the…This is my assignment Guidlines: Problem Analyze the potential impact of an Employer of Last Resort program using the data in exam.dta. The program will provide a job to anyone aged 18 to 67 years old that applies, until it runs out of money. The annual budget for the program is $35 billion. The jobs will be full-time (40 hours per week), full-year, and pay $15 per hour. Assume that the likelihood that someone will apply for a job under the program is equivalent to the likelihood that they are employed. Also, assume that there will be more applicants than available positions. In your answer, be sure to include the impact on racial and gender inequality (in other words differences in incomes by race and gender) and differences in poverty rates, as well as on overall poverty and inequality. In order to complete your answer, you must complete the following steps: Identify the individuals that will take a job under the ELR program. Be sure to include your justification for who you…
- Ethical Behavior Consider the following scenario between Dave, a printer, and Steve, an assistant in the local universitys athletic department. Steve: Dave, our department needs to have 10,000 posters printed for the basketball team for next year. Heres the mock-up, and well need them in a month. How much will you charge? Dave: Well, given the costs I have for ink and paper, 1 can come in at around 5,000. Steve: Great, heres what I want you to do. Print me up an invoice for 7,500. Huts our budget. Then, when they pay you, you give me a check for 2,500. Ill make sure that you get the job. Required: CONCEPTUAL CONNECTION Is Steves proposal ethical? What should Dave do?Faced with rising pressure for $14 per hour minimum wage rate, the farming industry is currently exploring the possible use of robotics to replace some farm workers. The Lettuce Techis one such robot; its job is to thin out a field of lettuce, removing the least promising buds of lettuce. By removing these weaker plants, the stronger lettuce plants have more room to grow. Assume the following facts: One Lettuce Tech would do the work of 25 farm workers. 2. Each farm worker typically works 45 hours on the lettuce thinning process each year. 3. Each farm worker would earn $14 per hour plus 7.65% payroll tax. 4. The Lettuce Tech is estimated to cost $6,000 plus $900 for delivery. 5. Annual costs of operating the Lettuce Tech are expected to be $1,200. While the Lettuce Tech itself may be in workable condition for up to five years, assume that the farm would view its implementation as a one-year experiment. Requirement Perform a cost-benefit…Refer to the Chapter 5 “Start-up Costs” discussion starting on page 5-19, and read the accompanying Examples 27, 28, and 29 very carefully. Dilly’s dream was to open a cookie shop, so she did her homework carefully be-fore finally opening “Dilly’s Delights” on July 1, 2019. Before that date, she had incurred the following “soft costs” – $12,000 realtor’s fee for finding a storefront to rent, $16,000 attorneys’ fees for negotiating a lease and trademark services, $8,000 wage expense for employees during the pre-opening period, and $18,000 for pre-opening TV and other advertising. Calculate and state the exact amount that you, in preparing Dilly’s 2019 return, will enter as her 2019 start-up costs deduction.
- 11. Joan is moving from a one-bedroom apartment in one city to a similarapartment in another city. She has been quoted a flat fee for the truck rentaland has two estimates for wages of the movers she will hire depending on herneeds and when she moves. Determine the hourly rates. Weekday Move:3 hoursloading/unloading2 hourspacking/unpacking$480 total cost Weekend Move: 5 hoursloading/unloading2 hourspacking/unpacking$680 total cost A. $90 loading/unloading; $100 packing/unpackingB. $100 loading/unloading; $90 packing/unpackingC. $80 loading/unloading; $130 packing/unpackingD. $130 loading/unloading; $80 packing/unpackingUse the information for the question(s) below.Food For Less (FFL), a grocery store, is considering offering one hour photo developing in their store. The firm expects that sales from the new one hour machine will be $150,000 per year. FFL currently offers overnight film processing with annual sales of $100,000. While many of the one hour photo sales will be to new customers, FFL estimates that 60% of their current overnight photo customers will switch and use the one hour service. Suppose that of the 60% of FFL's current overnight photo customers, half would start taking their film to a competitor that offers one hour photo processing if FFL fails to offer the one hour service. The level of incremental sales in this case is closest to: A. $150,000 B. $120,000 C. $60,000 D. $90,000Don Masters and two of his colleagues are considering opening a law office in a large metropolitan area that would make inexpensive legal services available to those who could not otherwise afford these services. The intent is to provide easy access for their clients by having the office open360 days per year, 16 hours each day from 7:00 a.m. to 11:00 p.m. The office would be staffed by a lawyer, paralegal, legal secretary, and clerk-receptionist for each of the two 8-hour shifts.In order to determine the feasibility of the project, Don hired a marketing consultant to assist with market projections. The results of this study show that if the firm spends $500,000 onadvertising the first year, the number of new clients expected each day would have the following probability distribution: Number of NewClients per Day Probability 20 0.10 30 0.30 55 0.40…
