Question: i need typed answer with explanation Under a modified wage plan, Jim Phillips works an eight-hour day and earns $.50 for each finished unit he

i need typed answer with explanation

Under a modified wage plan, Jim Phillips works an eight-hour day and earns $.50 for each finished unit he produces in excess of 200 units. However, he is guaranteed $12.50 per hour as a minimum wage. His production this week was as follows:

Monday	220 units
Tuesday	180 units
Wednesday	200 units
Thursday	200 units
Friday	190 units

How much was the make-up guarantee paid to Jim this week?

a. $10

b. $5

c. $12.50

d. $15

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock blur-text-image

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Under a modified wage plan, Jim Phillips works an eight-hour dayand earns $.50 for each finished unit he produces in excess of 200units. However, he is guaranteed $12.50 per hour as aminimum wage. 2...

1. Under a modified wage plan, Jim Phillips works an eight-hour day and carns $.50 for each finished unithe produces in excess of 200 units. However, he is guaranteed $12.50 per hour as a minimum...

Chapter 3 a madified wage plan, Jim Phillips works an eight-hour day and earms S 50 for each finished unit he prodhuces in excess of 200 units However, he is guaranteed $12.50 per hour as a minimum...

1 Under a modified wage plan, Jim Phillips works and eight hour day and earns $.50 for each finished unit he produces in excess of 200 units. However, he is guaranteed $12.50 per hour as a minimum...

1. Under a modified wage plan, Jim Phillips works and eight hour day and earns $.50 for each finished unit he produces in excess of 200 units. However, he is guaranteed $12.50 per hour as a minimum...

Can anyone help me pls Under a modified wage plan, Jim Phillips works an eight hour day and earns $50 for each finished unit he products in excess Monday 220 units Tuesday 180 units Wednesday 200...

26. Under a modified wage plan, Him works an eight-hour day and earns $.50 for each finished unit he produces in excess of 200 units. However, he is guaranteed $12.50 per hour as a minimum wage. His...

Ashley Hirano, the bookkeeper for New York Company, has been trying to get the balance sheet to balance. The companys balance sheet is shown below. Instructions Explain to Ashley Hirano in a memo why...

Discuss what types of HR changes could have affected reductions in workers compensation expenses, employee turnover, and increases in customer satisfaction.

The Yellow Book standards relating to financial audits apply to independent CPA firms as well as government audit departments. The following descriptions relate to an independent CPA firm that...

Skills necessary for success in marketing include Multiple select question. analytical thinking advertising industry experience infallibility ability to work with others

Describe the governments role in personnel selection decisions, particularly in the areas of constitutional law, federal laws, executive orders, and judicial precedent. page 248

List the common methods used in selecting human resources. page 254

Discuss how the particular characteristics of a job, an organization, or an applicant affect the utility of any test. page 246