<span>Industrialization gave workers shorter working hours and time off on weekends, which allowed for more leisure time. Leisure time is also known as down time. This is time that is set aside for people to do and spend how they want. They can get things done around their home, have fun with friends and family or sit home and relax. Having shorter working hours resulted in more leisure time. </span>
Answer:
Present Value = $290.20
Explanation:
The present value of a future payment can be calculated with the following formula:
PV = FV / (1 + i)N
Where i is the annual interest rate or discount rate, and t is the number of years until the payment will be received.
PV = Present Value = ?
FV = Payment = $4,400
i = 8.3% = 0.083
N = 20 - 6 = 14
PV = $4400 / (1 + 0.083)(20 - 6)
PV = $4400 / (1.083 * 14)
PV = $4400 / 15.162
PV = $290.1992
Present Value = $290.20 (Approximated)
Answer:
The incremental annual net cash inflows provided by the new machine would be $2,525.
Explanation:
In order to calculate the incremental annual net cash inflows provided by the new machine we would have to use the following formula:
incremental annual net cash inflows=saving in annual operating cost+contribution earned on additional sales
=( $4,125-$3,730)+(21,300×$0.10)
=$395+$2,130
=$2,525
Hence, The incremental annual net cash inflows provided by the new machine would be $2,525.
Answer:
By producing the starters the company will save $20,000 per year.
Explanation:
production costs
direct materials $3.10 per unit
direct labor $2.70 per unit
supervision $60,000
depreciation $40,000
variable manufacturing overhead $0.60 per unit
rent $12,000
total production cost $9.20 per unit
The engineer is wrong because he is considering fixed costs like depreciation and rent that should not be included because they are independent on whether this project is approved or not. Once you take away depreciation and rent, the cost per unit will fall by $1.30 [= ($40,000 + $12,000) / 40,000 units].
Since the production cost = $9.20 - $1.30 = $7.90, which is lower than $8.40 which is the purchase cost, the company should start producing the starters at least until its sales bonce back.
By producing the starters the company will save ($8.40 - $7.90) x 40,000 units = $20,000 per year
Answer:
- b. As the population in the United States ages, fewer workers have the physical ability to work in the industry.
- d. Due to global warming, working conditions on farms have become undesirable for more and more people.
- e. The adoption of strict immigration laws reduces the number of legal and illegal immigrants in the United States.
- h. New machinery is replacing workers in the harvesting of crops.
Explanation:
With workers getting older and being unable to be as productive as they used to be, they will have to drop out of industries that require physical strength including farming. This will therefore reduce people working in agriculture.
With global warming having made working in the fields much more harsh, people are avoiding careers that would keep them outdoors including farming which has led to a drop in the labor supply for agriculture.
A significant portion of workers in agriculture are immigrants so when immigration laws limit the number of immigrants coming in, labor supply in agriculture will reduce.
New machinery reduces the need for workers in agriculture so the more they are bought, the less workers are needed. This will therefore directly reduce the number of people working in agriculture.
