A Worker Was Producing a Product for Which the Standard

question 39

Multiple Choice

A worker was producing a product for which the standard time was one minute per unit.During an eight hour workday,the worker produced 520 units.What would be the worker's pay for that day if the basic pay rate was $10.00 per hour and the piece rate bonus was $2.00 per unit above standard?

• A)$80.00
• B)$96.00
• C)$120.00
• D)$160.00
• E)$180.00

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Definitions:

Explicit Costs

Direct, out-of-pocket payments for goods or services necessary for conducting business.

Items

Individual objects or units, especially those included in a list or collection.

Economic Profits

The difference between total revenue and the total costs (both explicit and implicit costs) of a company, indicating the surplus generated from business activities.

Savings Account

An account for holding deposits at a bank or another financial entity, ensuring the safety of the principal amount while offering a slight interest rate.