Faced with rising pressure for a $15 per hour minimum wage rate, the farming industry is...
Fantastic news! We've Found the answer you've been seeking!
Question:
Transcribed Image Text:
Faced with rising pressure for a $15 per hour minimum wage rate, the farming industry is currently exploring the possible use of robotics to replace some farm workers. The Lettuce Bot is one such robot; its job is to thin out a field of lettuce, removing the least promising buds of lettuce. By removing these weaker plants, the stronger lettuce plants have more room to grow. Assume the following facts: (Click the icon to view the information.) While the Lettuce Bot itself may be in workable condition for up to five years, assume that the farm would view its implementation as a one-year experiment. Requirement Perform a cost-benefit analysis for the first year of implementation to determine whether the Lettuce Bot would be a financially viable investment if the minimum wage is raised to $15 per hour. (Round your answers to the nearest whole dollar.) Cost-Benefit Analysis Expected Benefits (Cost Savings): Total expected benefits Expected Costs: Total expected costs Net expected benefit (cost) Cost and Benefit Information 1. One Lettuce Bot would do the work of 20 farm workers. 2. Each farm worker typically works 40 hours on the lettuce thinning process each year. 3. Each farm worker would earn $15 per hour plus 7.65% payroll tax. 4. The Lettuce Bot is estimated to cost $8,000 plus $500 for delivery. 5. Annual costs of operating the Lettuce Bot are expected to be $1,500. Print Done Faced with rising pressure for a $15 per hour minimum wage rate, the farming industry is currently exploring the possible use of robotics to replace some farm workers. The Lettuce Bot is one such robot; its job is to thin out a field of lettuce, removing the least promising buds of lettuce. By removing these weaker plants, the stronger lettuce plants have more room to grow. Assume the following facts: (Click the icon to view the information.) While the Lettuce Bot itself may be in workable condition for up to five years, assume that the farm would view its implementation as a one-year experiment. Requirement Perform a cost-benefit analysis for the first year of implementation to determine whether the Lettuce Bot would be a financially viable investment if the minimum wage is raised to $15 per hour. (Round your answers to the nearest whole dollar.) Cost-Benefit Analysis Expected Benefits (Cost Savings): Total expected benefits Expected Costs: Total expected costs Net expected benefit (cost) Cost and Benefit Information 1. One Lettuce Bot would do the work of 20 farm workers. 2. Each farm worker typically works 40 hours on the lettuce thinning process each year. 3. Each farm worker would earn $15 per hour plus 7.65% payroll tax. 4. The Lettuce Bot is estimated to cost $8,000 plus $500 for delivery. 5. Annual costs of operating the Lettuce Bot are expected to be $1,500. Print Done
Expert Answer:
Posted Date:
Students also viewed these accounting questions
-
The stator of a 220-V, 60-Hz induction motor has 12-turn coils. You wish to re-wound it for working at 380-V, 50-Hz. While maintaining the flux same as of original motor, calculate the number of...
-
Suppose that your firm is operating in a segmented capital market. What actions would you recommend to mitigate the negative effects?
-
Consider a two-stage cascade refrigeration system operating between the pressure limits of 1.4 MPa and 160 kPa with refrigerant-134a as the working fluid. Heat rejection from the lower cycle to the...
-
Bleaker Company declares and pays its annual dividend near the end of its fiscal year. For the current year, Bleaker's dividend payout ratio was 40 percent, its earnings per common share were \(\$...
-
Four roommates are planning to spend the weekend in their dorm room watching old movies, and they are debating how many to watch. Here is their willingness to pay for each film: a. Within the dorm...
-
Comparative financial statements for Weller Corporation, a merchandising company, for the year ending December 31 appear below. The company did not issue any new common stock during the year. A total...
-
1) What factors led to the success of FinVolution in China 2) Investigate the Fintech industry in [Up To YOU], including competitors from other industries, What is the [Country] consumer like? Can...
-
Using the statement below, i dentify the bias in the chosen statement. Explain WHY. Explain how the biases in that statement influences or affects the decision-making process. "The CEO needs to...
-
a (m/s) 10 20 20 What is the velocity of the particle at t=10 s? 100 m/s O 97.5 m/s O 200 m/s O 75 m/s (S)1
-
Imagine you work as a Learning manager or Training manager in an organization. You are requested by your CEO to demonstrate professional leadership in improving organizational learning. To achieve...
-
Consider a scalar operator which commutes with the angular momentum operator , show that in the simutaneous eigenket of (, ) (i.e., \j, m)), the expec- tation value of is independent of the quantum...
-
Use the definite integral to find the area between the x-axis and f(x) over the indicated interval. Check first to see if the graph crosses the x-axis in the given interval. f(x)=e-3: [-1,2] The area...
-
We covered Rogers Adoption Model in the course (refer to page 148-150 of the textbook or week 12 revision notes). However, several other theories have been proposed to describe the process of how new...
-
Briefly discuss the implications of the financial statement presentation project for the reporting of stockholders equity.
-
Fashion Fabrics sells sewing and craft materials to specialty retail and department stores. For the year, the company's New York Division had the following performance targets: Actual information...
-
Assume that management at Subway has decided to implement a balanced scorecard for the organization. Visit the company's site map at http://www.subway.com/subway root/sitemap.aspx. Using the...
-
Go to http://www.carbonfootprint.com/calculator.aspx to compute your approximate carbon footprint. What goals and measurements would you put on a balanced scorecard to reduce the size of that...
Study smarter with the SolutionInn App