The Penalty for an OSHA Violation Can Be Up to $70,000

question 54

True/False

The penalty for an OSHA violation can be up to $70,000 if the violation is severe, willful, and repetitive.

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Definitions:

Direct Labour Wage Rate

The hourly rate paid to workers directly involved in the production of goods or services.

Overhead Rate

The ratio of overhead costs to the base cost, used to allocate overhead to products or services.

Cost of Goods Manufactured

The total production cost of the goods completed and ready for sale, including direct materials, direct labor, and manufacturing overhead.

Predetermined Overhead Rate

An estimated rate used to allocate manufacturing overhead costs to individual units of production based on a specific activity like labor hours or machine hours.