Use the Following Information for the Next 4 Questions

question 32

Multiple Choice

Use the following information for the next 4 questions.
White, Inc. produces a chemical product whose primary component is purchased on credit and any discounts are always taken. The following material and labor elements make up the costs of the product: Each container of the chemical product contains 5.7 quarts of material. During the process 5% of the material is lost due to waste. Each container of product also requires 1.2 hours of labor. Each day 2 hours are taken for set-up, cleaning, and breaks. Also, the wage rate is $15 per hour and fringes/payroll taxes are 20% of wages. Clients can take a 3% discount if they pay invoices within 10 days; otherwise, the entire invoice amount is due within 30 days. 1 gallon equals 4 quarts.
-The standard price per quart for materials is

• A) $7.825
• B) $7.50
• C) $8.05
• D) $7.60

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Definitions:

Comparing Job Classes

The process of analysis and evaluation of different job categories within an organization to ensure equitable compensation and responsibilities.

Proxy

A representative, often used in the context of voting on behalf of another person in meetings or making decisions in corporate settings.

Obsolete Data

Information that is outdated or no longer applicable, often due to changes over time or technological advancements.

Dynamic Work Environments

Workplaces that are continually changing and adapting to new technologies, processes, or market demands.