The Distribution of Annual Salaries for 52 Employees in a Small

question 109

Essay

The distribution of annual salaries for 52 employees in a small manufacturing company has the following averages: the mean is $25,459, the median is $24,798 and the mode is $24,000. What is the total amount paid for employee salaries?

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Definitions:

Fixed Overhead

Refers to the static expenses that occur regardless of the level of production or business activity, such as rent, salaries, and insurance.

Direct Labor

The labor costs directly tied to the production of goods or services, including wages for workers who physically manufacture a product.

Raw Material

Fundamental materials in their original, altered, or partially processed forms that serve as inputs for manufacturing.

Selling and Administrative Expenses

Costs associated with selling products or services and managing the business, excluding production costs.