Use the Following Information for the Next 4 Questions

question 20

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 rate per hour is

• A) $18
• B) $28.80
• C) $12
• D) $21.60

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Definitions:

Government Financial Contribution

Financial support provided by the government to organizations, individuals, or sectors through grants, subsidies, or other fiscal measures.

Specific Industry

A distinct sector of the economy focused on a particular category of products or services.

Ratification

The formal approval of an agreement or act, making it officially valid.

International Agreements

Treaties or accords between countries that govern their mutual relations and commitments.