Three Workers Complete a Full 8-Hour Day Finishing Concrete for a Terrace.All

question 11

Multiple Choice

Three workers complete a full 8-hour day finishing concrete for a terrace.All three workers are paid $12 an hour and the job bills to the customer for $450.What are the total direct labor costs?

• A)$450
• B)$12
• C)$288
• D)$96

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Definitions:

Principal Amount

The original sum of money borrowed in a loan, or the original investment in a financial instrument, before interest.

Maturity Value

Maturity Value is the amount to be paid to the holder of a financial instrument at its maturity date, including the principal and any remaining interest.

Notes Receivable (New)

Financial assets representing written promises for payments to be received by a party, usually including interest.

Notes Receivable (Old)

Financial assets representing amounts due to be received from debtors under formal agreements or promissory notes that are no longer current.