Lou Marinaro Worked 44 Hours Last Week for Breakbad Manufacturing

question 193

Multiple Choice

Lou Marinaro worked 44 hours last week for Breakbad Manufacturing. Of the 44 hours 4 hours were considered overtime, and also Marinaro was idle for 5 of the 44 hours due to an equipment malfunction. Marinaro makes $40 per hour and is paid $60 an hour (time and a half) for overtime. Marinaro's total compensation for that week would be ________, and assuming Breakbad charges overtime premium and idle time to indirect labor, the amount of this compensation credited to indirect labor would be ________.

• A)$1,680; $80
• B)$1,680; $280
• C)$1,840; $80
• D)$1,840; $280

Calculate marginal revenue product (MRP) based on given data tables.

Understand the factors influencing the demand and supply of labor and other resources.

Analyze the impact of changes in prices of inputs on resource allocation and firm behavior.

Describe the substitution and output effects in response to changes in input prices.

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Definitions:

Rate of Decrease

A measure that indicates how quickly a quantity diminishes over time.

Base Value

A reference point used in the calculation of variables, such as index numbers, from a specific base date.

Percentage

A fraction or ratio expressed as a part of 100, used to denote proportion or comparison between quantities.

Missing Value

An absent data point or entry in a dataset, which may occur for various reasons and can impact the analysis if not properly handled.