If 20,000 Hours of Labor Were Used in the Expenditure

question 7

Multiple Choice

If 20,000 hours of labor were used in the expenditure base, $1,000,000 was paid in salary to produce 5,000 outputs, and wages are expected to increase by 5%, the cost standard would be:

• A) 4.0 hours per output.
• B) $200 per output.
• C) 4.2 hours per output.
• D) $210 per output.

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Definitions:

Leader Decides

A decision-making process where the leader of a group makes the final decision, sometimes without consulting the group members.

Distributive Justice

The perceived fairness of the distribution of resources and benefits among the members of a society or group.

Awarded Bonuses

Financial or non-financial rewards given to employees or individuals in recognition of their achievements or performance above expectations.

Corporate Guidelines

Policies and procedures established by a company to set standards and rules for employee behavior and company operations.