Price is higher than long-run average cost. This is NOT a sign of long-run equilibrium for a firm with perfect competition.
Over time, the business will produce at the output level where the long-run average cost is the lowest.
when both the long-term average cost and the long-term marginal cost are included in the pricing
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question 1 in which stage of the data life cycle does a business decide what kind of data it needs, how the data will be managed, and who will be responsible for it?
A business decides what type of data it need, how it will be managed throughout its life cycle, who will be in charge of it, and the best outcomes during planning.
What is the company life cycle?In business, a product's life cycle tracks its development, maturation, and decline. Product development, market introduction, growth, maturation, and decline/stability are the five stages of a life cycle.An analysis project using data from a private company has been completed by a data analyst. In order to protect the data, they delete the digital files. In order to protect sensitive information, data analysts employ secure data-erasure software and shred paper files during the destroy phase.During planning, a business determines what type of data is required, how it will be managed throughout its life cycle, who will be in charge of it, and the best outcomes.To learn more about company life cycle refer to:
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we described monetary policy as a sequence starting with a change in the interest on reserves. the demand for cash weakness complicates which part of the sequence?
Monetary policy is a sequence stating with a change in the interest on reserves. the demand for cash weakness complicates the supply part of the sequence
What is Monetary Policy?A Monetary Policy is defined as a set of tools which is used by a nation's central bank in order to control the overall supply of money and to promote economic growth. Monetary policy includes the interest rates and changing bank reserve requirement.
There are two types of monetary policy
ExpansionaryContractionaryContractionary
A Contractionary policy playa an important role in increasing the interest rates and limiting the supply of money to slow growth and it helps in decreasing deflation.
Expansionary
During the time of recession, an expansionary policy helps to increase economic growth.
The goals of monetary policy are
Inflation UnemploymentExchange RatesThe various tools of Monetary Policy are
Open Market Operation, Interest Rates. Reserve Requirements
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a prospective insured completes and signs an application for health insurance but intentionally conceals information about a pre-existing heart condition. the company issues the policy. two months later, the insured suffers a heart attack and submits a claim. while processing the claim, the company discovers the pre-existing condition. in this situation, the company will:
A prospective insured completes and signs an application for health insurance but intentionally conceals information about a pre-existing heart condition. The company issues the policy. Two months later, the insured suffers a heart attack and submits a claim. While processing the claim, the company discovers the pre-existing condition. In this situation, the company will continue coverage but exclude the heart condition.
What is health insurance?A type of insurance called health insurance pays for medical costs incurred as a result of disease. These costs might be connected to hospitalization charges, medication costs, or professional fees.
An agreement between an insurer and the policyholder is a health insurance plan. In exchange for receiving a premium from the policyholder, the insurance provider will cover the insured's medical costs, including those for hospitalization, daycare, post- and pre-hospitalization, etc.
In addition, access to quality healthcare and hospitalization bills may be financially challenging given the escalating cost of medical expenses. In light of this, obtaining health insurance for you and your family can offer the extra security you require in situations like this.
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a potential cause of stagflation is multiple choice agricultural surpluses. declining productivity. improving labor productivity. a rise in the value of the dollar.
Declining productivity can be a potential cause for stagflation.
Write a brief account on stagflation.Stagflation is the phrase used to characterise an economy that has high unemployment, large inflation, and little or no economic growth. The phrase is a portmanteau made up of the words inflation and GDP stagnation.
In most significant economies, stagflation episodes occurred often in the 1970s and 1980s. The Keynesian macroeconomic theory, which was then the most widely accepted theory in economics, held that increases in inflation and unemployment could not occur simultaneously.
Stagflation directly affects affordability, making it more difficult for many people to meet basic requirements, especially those who are unemployed. Stagflation could result in risks of job losses and reduced pay for those who are employed, which would reduce consumer confidence and spending power.
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the income statement for abc company shows gross profit of $144,000; operating expenses of $130,000; and cost of goods sold of $216,000. what is net sales revenue?
According to the income statement for the ABC Company, operational costs were $130,000, cost of goods sold was $216,000, and gross profit was $144,000. $360,000 is the net sales income.
What is net sales revenue?Net sales are your entire sales revenue minus allowances, discounts, and refunds. Your profits are your net income. After deducting all costs and adding any non-sales revenue, it equals your net sales.
To answer the preceding query, use the following formula:
Net sales revenue - Cost of goods sold = Gross profit.
Net sales revenue = Gross profit + Cost of goods sold
$144,000 + 216,000 = $360,000
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carlos, age 19, is a full-time graduate student at city university. during 2022, he received the following payments: cash award for being the outstanding resident adviser $ 1,500 resident adviser housing 2,500 state scholarship for ten months (tuition and books) 6,000 state scholarship (meals allowance) 2,400 loan from college financial aid office 3,000 cash support from parents 2,000 $17,400 carlos served as a resident adviser in a dormitory and, therefore, the university waived the $2,500 charge for the room he occupied. what is carlos's adjusted gross income for 2022?
Carlo's adjusted gross income for 2022 is $3,900
What is gross income?Gross income is the sum of all wages, salaries, profits, interest payments, rents, and other forms of earnings before any deductions or taxes for households and individuals. It contrasts with net income, which is defined as gross income less taxes and other deductions.
Adjusted gross income is an individual's total gross income less particular deductions in the United States income tax system. It is used to compute taxable income, which is AGI minus personal exemption and itemized deduction allowances. AGI is more important than gross income for most individual tax purposes.
Adjusted Gross Income (AGI) is defined as gross income less income adjustments. Wages, dividends, capital gains, company revenue, retirement distributions, and other income are all included in your gross income.
Only the following will qualify as Income for Carlo:
Cash award received + state scholarship = 1500+2400
= $3,900
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gerritt wants to buy a car that costs $30,500. the interest rate on his loan is 5.63 percent compounded monthly and the loan is for 6 years. what are his monthly payments?
The monthly payments will be $317.58
Calculation of monthly payments
Using the the formula for EMI given
EMI = [P * I * (1+I)^N]/[(1+I)^N-1]
P =loan amount or Principal = 30500
I = Interest rate per month = .0563/12
N = the number of installments = 6*12 = 72
EMI = [30500*.0563/12* (1+(.0563/12))^72]/[(.0563/12))^72-1]
EMI = [30,500 * 0.0563 / 12 * 1.337] / [1.337 - 1]
EMI = 107.02 / 0.337
EMI = $317.58
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on january 1, 2023, jacob incorporated purchased a commercial truck for $48,000 and uses the straight-line depreciation method. the truck has a service life of eight years and an estimated residual value of $8,000. on december 31, 2024, jacob incorporated sold the truck for $43,000. what amount of gain or loss should jacob incorporated record on december 31, 2024?
The company should record a gain of $5,000 from selling the truck on December 31, 2024.
The formula for straight line depreciation:
Depreciation = (initial value of asset - salvage value) / useful life
Data from the problem:
Truck initial purchase = $48,000
Useful life = 8 years
Hence,
Depreciation per year = (48,000 - 8,000) / 8
= $5,000 per year
By December 31, 2024, it has been 2 years since the purchase. Therefore,
the asset's value = $48,000 - (2 x $5,000) = $38,000
The truck was sold at $43,000 while its value is depreciated to $38,000, hence, the company's gain is $43,000 - $38,000 = $5,000
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brazilian coffee farmers have benefited from multiple choice the drop in the value of the brazilian real. the depreciation of the u.s. dollar. the drop in the price of robusta beans. the depreciation of the vietnamese dong. the sharp appreciation of the local currency.
Vietnamese coffee farmers are decreasing coffee production and increasing their investments in alternative crops.
Brazilian coffee accounts for one out of every three cups consumed worldwide. As the producer of one-third of the world's coffee (60 million bags estimated in the 2018 season), it's no surprise that Brazil is also its top exporter.
Brazil has long been the world's largest producer and exporter of coffee; it is also the world's second-largest consumer market. Coffee has the most Geographical Indications (GIs) registered in the National Institute of Industrial Property of any "Made in Brazil" product (INPI).
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1. compute the contribution margin of schmidt men's clothing 2. compute the contribution margin percentage. 3. mr schmidt estimates that he can increase units sold, and hence revenues by 25% by incurring additional advertising costs of $12,000. calculate the impact of the additional advertising costs on operating income 4. what other actions can mr. schmidt take to improve operating income?
Calculate the men's clothes contribution margin and the contribution margin percentage.
Delaware County
1. The sales amount is $2,430,000 in dollars.
2. The safety margin is 33% (in percentage).
3-1) A $45 unit contribution margin
2) The contribution margin ratio is 20%.
3) 7,200 units represent the break-even point.
4) $1,620,000 and $255 in sales are required to break even.
(a) Data and calculations.
Statement of Contribution Margin Income for the calendar year ending on December 31, 2019
Sales (at a cost of $225 each, 9,600 pieces) Variable costs: $2,160,000 (9,600 units at $180 each) 1,728,000 contributions, 432,000 contributions, and 324,000 fixed expenses
Pre-tax income of $108,000
The contribution margin per unit is $45 ($432,000/9,600).
Contributions amount to 20% ($45/$225 * 100).
Break-even is reached at 7,200 units ($324,000/$45).
($324,000/0.20) is the $1,620,000 break-even mark in sales. $255
1. With a target pretax income of $162,000:
Sales dollars divided by the contribution margin ratio equals (Fixed costs + the desired profit).
= $2,430,000 ($324,000 + $162,000)/0.20
2. A margin of safety (in percent)
1. The sales were $2,430,000.
2. ($2,430,000 - $1,620,000) The safety margin is $810,000.
33% ($810,000/$2,430,000 * 100) is the percentage margin of safety.
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the difference between national income and disposable income is net exports. federal deficits. residential investment. the amount of taxes collected. financial investment.
The difference between national income and disposable income is the amount of taxes collected.
Define tax and its purpose.Tax compliance refers to both governmental acts and human behavior. A tax is a mandatory financial charge or other sorts of levy placed on a taxpayer (an individual or legal entity) by a governmental organization in order to finance government spending and different public expenditures (regional, local, or national).
Taxes are compulsory payments made by a government agency, whether local, regional, or federal, to people or businesses. Tax revenues are used to fund a variety of government initiatives, such as Social Security and Medicare as well as public infrastructure and services like roads and schools. To finance governmental expenses, taxation serves its most fundamental purpose. Taxes have been justified and explained in a variety of ways throughout history.
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Which cde contest requires students to use their sensory skills to solve problems and make sound decisions?.
Food Science and Technology Career Development Event (CDE) requires students to use their sensory skills to solve problems and make sound decisions.
Sensory skills are those which include. imaginative and prescient, hearing, touch, odor, flavor, vestibular (for stability and head role in space), and. proprioception (records from the muscle groups and joints). they may be chargeable for receiving. information.
Children use their senses to explore and try to make sense of the world round them. They try this with the aid of touching, tasting, smelling, seeing, shifting and listening to. Sensory play facilitates language development, cognitive growth, high-quality motor competencies and gross motor talents, trouble fixing abilities and social interactions.
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mariana is a study abroad student who works in the international students office on campus. at the weekly staff meeting, mariana is uncomfortable sharing ideas with the higher-level managers at the meeting and defers to her supervisor, maria, when she is asked a direct question. mariana is likely visiting from a country characterized by .
As Mariana is uncomfortable sharing ideas and defers to her supervisior, she is likely visiting from a country characterized by high power distance.
In the field of social sciences, such a culture that increases the deference in a person is referred to as high power distance.
A high power distance promotes being humble and giving deference to other people to communicate instead of you. Although some cultures might view this act as a humble one but it is considered to be low courage and willpower in others.
As Mariana is also uncomfortable to share ideas and she asks her supervisor to speak for her when a question is asked from her, she is hence showing high power distance.
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joanie wants to educate the board about the value in understanding consumer opinions, thus should consider educating the board and ceo on the power of which of the following marketing tools? multiple choice blogs wikis spectators crowdsourcing qr scans
Joanie wants to educate the board about the value in understanding consumer opinions, thus should consider educating the board and CEO on the power of blogs as marketing tools
The blog is used on a website to promote a product, service, organization, or individual using text, audio, and video material is known as blog marketing. Although some blogs have evolved into businesses unto themselves, blogs are frequently used to advertise a business or enterprise. Your website will receive more visitors if you add blog-style content to it. Your SEO, or search engine optimization, will significantly improve if your blog is updated frequently. You can position yourself as an authority on a subject by starting a blog. You can offer advice and knowledge specific to your business and sector.
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the june 30, 2024, year-end trial balance for askew company contained the following information: account debit credit inventory, 7/1/2023 $ 33,700 sales revenue $ 397,000 sales returns 13,700 purchases 257,000 purchase discounts 7,700 purchase returns 11,700 freight-in 20,400 in addition, you determine that the june 30, 2024, inventory balance is $41,700. required: calculate the cost of goods sold for the askew company for the year ending june 30, 2024.
The cost of goods sold for the Askew Company for the year ending June 30, 2024, is equal to $250000.
There are many expenses incurring during the production of goods in a company. The expenses include the inventory cost, Net purchases, Security costs, etc. Now, the formula for calculating the costs of goods will be given by
Cost of goods sold = Beginning Inventory + Net purchases - Ending Inventory
According to the question the Beginning Inventory is equal to $33700, the Net purchases = ($257000 - $7700 - $11700 + $20400) = $258000 and the Ending Inventory = $41700
Putting the values in formula we get
Cost of goods sold = $33700 + $258000 - $41700
Cost of goods sold = $250000 which is the required amount.
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the price of celery rises, but nothing has changed on the supply side of the market. what does this mean to celery farmers? it is a signal that celery is more valuable to consumers than it was before. celery production should be reduced because the number of producers has risen. it is a signal that they should reduce celery production because it is too expensive for consumers. celery production should be increased because the number of producers has fallen.
Answer:
It is a signal that celery is more valuable to consumers than it was before.
Explanation:
Marketers use data to determine that they want to create messages that appeal to a younger target market. This is part of an overall.
Marketers use data to determine that they want to create messages that appeal to a younger target market this is part of an overall is a promotional strategy.
What is a promotional strategy?
the component of a company's navigation worried about picking the most proper blend of publicizing, deals advancement, individual selling and exposure for correspondence with its objective market.
What is a promotional strategy example?
Kinds of limited time procedures incorporate customary and web-based publicizing, individual selling, direct showcasing, advertising and sponsorships and deals advancements.
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what is proof-of-stake? multiple choice a requirement to define an expensive computer calculation, also called mining, that needs to be performed in order to create a new group of trustless transactions (blocks) on the distributed ledger or blockchain a way to validate transactions and achieve a distributed consensus a type of digital currency in which a record of transactions is maintained and new units of currency are generated by the computational solution of mathematical problems; it which operates independently of a central bank all of the answer choices are correct.
The proof of stake (PoS) mechanism pays those that verify transactions in diverse ways and upholds the integrity of a blockchain.
Describe proof-of-stake?A consensus mechanism for processing transactions and adding new blocks to a blockchain in cryptocurrencies is called proof-of-stake. A consensus mechanism is a technique for ensuring the security of a distributed database and validating entries.The proof of stake (PoS) mechanism pays those that verify transactions in diverse ways and upholds the integrity of a blockchain.A consensus process called proof of stake is used to validate fresh cryptocurrency transactions. Since blockchains are decentralized, no single entity has any control over them. With proof of stake, a validator is selected at random in part depending on how many coins they have locked up in the blockchain network.Certain consensus procedures employed by blockchains to reach distributed consensus are based on proof-of-stake.To learn more about proof-of-stake refer to:
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With low wages and strict controls on speed and productivity, how do barbadian pink-collar workers in the informatics industry express their agency?.
The Barbadian pink-collar workers in the informatics industry express their agency by choices in dress and hairstyles.
Who are pink-collar workers?An employee in a field historically viewed as the domain of women is referred to as a "pink-collar worker." Jobs in the health and beauty sectors, nursing, social work, education, secretarial work, and child care are just a few examples. Although men may also hold these positions, historically women have held them in greater numbers than males (a trend that still holds true today, albeit to a lesser level), and they often have lower pay than either white-collar or blue-collar employment. Author and social critic Louise Kapp Howe coined the phrase "pink-collar" to describe women who worked as nurses, secretaries, and primary school teachers in the late 1970s. However, the Equal Rights Amendment (ERA), which was put up for ratification by the states in the early 1970s, is where it has its roots.
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you are marketing kayaks for a major outdoor gear manufacturer. your campaign focuses on the rugged dependability of the brand and how this watercraft can take you to new heights of enjoyment and adventure. you are attempting to .
Marketing kayaks for a significant outdoor equipment producer with marketing emphasizing the brand's dependable toughness and how the boat may elevate fun and adventure to new levels. Through a brand connection, you're seeking to engage the customer on a deeper level. Hence the appropriate choice of option will be option (d).
What is Public Relations (PR) ?In order to affect the public's view, public relations (PR) is the activity of managing and distributing information from an individual or an organization (such as a business, a government agency, or a nonprofit organization) to the public. Public relations is internally managed in contrast to publicity, which is unregulated and supported by outside sources. Without requesting money up front, an organization or individual can use public relations to connect with their audiences by taking advantage of breaking events and topics of interest to everyone. The media is mostly responsible for the publicity. This makes it distinct from advertising as a form of marketing communication.
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The complete question is mentioned below :
You are marketing kayaks for a major outdoor gear manufacturer. Your campaign focuses on the rugged dependability of the brand and how this watercraft can take you to new heights of enjoyment and adventure. You are attempting to _________.
A.) divert the consumer away from key factors in their purchase decision.
B.) engage the consumer on a deeper level through a brand connection.
C.) promote your product using strategic communications techniques.
D.) manipulate the consumer in an unethical manner through imagery.
organizational design skills are critical to career success, but total organizational design or redesign typically is not put in the hands of newly hired managers. why then is it important for you early in your career to understand the structure and the specific differentiation and integration mechanisms of the organization you work in?
While organizational behavior is the psychology of organizations, organization design may be considered the sociology of organizations.
Organization design could be thought of as the sociology of organizations, whereas organizational behavior is the psychology of organizations. This is the main distinction between an organization design and organizational behavior.
Therefore, organization design explains how workflow in an organization is to be achieved, including supervision, task allocation, and coordination. A boundary-less system is one that aims to increase flexibility so that all stakeholders have a reasonable level of freedom to collaborate for the organization's benefit sociology. All types of obstacles, including those between workers and customers, that occasionally potentially limit flexibility and effectiveness are removed, allowing management and workers who are Calls are made by people who are near to the issue at hand and have a better understanding of the circumstance, saving both time and input. Boundary-less firms exhibit excellent levels of adaptation to changes in technical and environmental practices that have advanced business in the 21st century.
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justin bieber contracted to perform a music concert at the local stadium. he was aware of the fact that the stadium would sustain a substantial loss if he failed to perform. justin, however, was stricken ill with laryngitis preventing him from singing and he failed to perform at the concert. the stadium sued justin for breach of contract. what is the likely result?
The likely result is: the contract was discharged by the impossibility of performance or, if not, Justin will have to perform at another date after he recovers.
The other options could not be a possible outcome result in the given scenario because it would be really unfair as well as unethical according to business point of view, if they make Justin accountable for the breach of contract and also the loss could not be compensated if they hire another singer, as people has only paid the price of the tickets to see Justin performing.
So, giving another date for the concert would be appropriate instead of hiring new singer, in terms of business point of view.
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which two industries are significantly influenced by laws regulating product purity and labeling? multiple select question. pharmaceuticals automobiles technology food
Food and pharmaceuticals are the two industors that are known to be affected by the laws that have to do with purity and labeling.
What is labeling?This is the term that is used to refer to the fact that the items that are to be consumed by people are well tagged so that people would be able to read it properly.
This would help to prevent certain incidents. The FDA is the body that is responsible for the regulations that have to do with foods and drugs This is so that people would not have to take in products that are wrong or unhygienic for them.
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speedy snow removal's cost formula for its vehicle operating cost is $3,080 per month plus $338 per snow-day. for the month of january, the company planned for activity of 20 snow-days, but the actual level of activity was 22 snow-days. the actual vehicle operating cost for the month was $10,130. the spending variance for vehicle operating cost in january would be closest to:
The spending variance for vehicle operating cost in January would be closest to $386 U
Calculation to determine what The spending variance for vehicle operating cost in January would be closest to:
Actual results $10,130
Less Flexible budget $10,516
($3,080+($338 per*22 snow-days)
Spending variance $386 Unfavorable
Therefore The spending variance for vehicle operating cost in January would be closest to:
$386 Unfavorable
What is variable cost?
Costs that vary according on how much of a good or service a company produces are known as variable costs. The total of marginal costs across all units produced represents variable costs. They may also be regarded as typical expenses. The two elements of total cost are fixed costs and variable costs.
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only direct materials, direct labor, and variable manufacturing overhead costs are considered product costs when using group of answer choices full costing. absorption costing. variable costing. product costing.
Only direct materials, direct labor, and variable manufacturing overhead costs are considered product costs when using, variable costing. Option C
What is variable costing?Generally, The technique of costing known as variable costing takes into account just the variable aspects of production expenses, such as direct labor, direct materials, and variable manufacturing overhead when calculating unit product costs.
According to the variable costing method, fixed costs (both manufacturing and non-manufacturing) are handled as a period or capacity cost and are expensed in the period in which they are incurred. This applies to both manufacturing and non-manufacturing fixed costs. As a result, the cost of the product does not take into account fixed costs.
One of the presumptions that underlie the Cost-Volume-Profit (CPV) analysis is as follows:
A linear relationship exists between costs and their ability to be correctly segmented into variable and fixed components.
While the fixed component's overall value remains the same over the relevant range, the variable component's value remains the same for each unit.
The use of the cost-volume-profit analysis is impossible if the costs are not properly classified as either fixed or variable by the individual doing the study.
Therefore, the right answer is choice number one, variable costing.
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the total cost of producing x units of a certain commodity is given by does marginal cost increase or decrease with increasing production? not enough information to answer marginal cost is constant. marginal cost is increasing. marginal cost is decreasing.
If the price of producing x units commodity of a certain good is given by the expression, then the marginal cost is dropping C(X) = 1/7x+6+7
Marginal cost is the term used to describe the additional expenses spent by manufacturing more units of a good or service. It is computed by dividing the entire variation in the cost of producing commodity more items by the variation in the quantity of goods produced.
Labor and materials are typically included in the calculation's variable costs, along with any anticipated increases in fixed costs like overhead, selling costs, and administrative costs. To maximize the production of cash flow, the marginal cost formula can be employed in financial modeling.
So, marginal cost is decreasing if the the total cost of producing x units of a certain commodity is given by C(X) = 1/7x+6+7
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Why is equilibrium price represented by the intersection of the supply and demand curves in a particular market?.
When demand and supply are balanced, a price is said to be in equilibrium. The point where the supply and demand curves converge determines it.
Why does the point where the supply and demand curves connect in a specific market reflect equilibrium price?At the point where the two curves cross, the quantities and prices are identical since the supply curve displays amounts delivered at various prices while the demand curve displays quantities demanded at various prices. The point where the supply and demand curves intersect is hence the equilibrium price.
Why do you think that market equilibrium is something that it continually aims for?If the price is too high, there is a surplus and prices tend to fall until the surplus is sold and equilibrium is reached; on the other hand, if the price is too low, there is a shortage and producers raise prices and increase quantity supplied. As a result, the market is constantly moving toward equilibrium.
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on april 1, a company takes on an 18-month job and receives a $10,000 advance that is recorded in revenue. if no adjusting entry is made at year-end, how will the financial statements be affected?
if no adjusting entry is made at year-end, the financial statements will be affected:
Net - income: will be overstated
Assets: will be overstated
What are Financial statements?The financial actions and position of a company, individual, or other entity are formally recorded in financial statements (also known as financial reports). The presentation of pertinent financial data is organized and presented in an understandable style. The purpose of financial statements is to give information about an organization's financial situation, performance, and changes in financial position that may be used by a variety of users to make financial decisions. Financial statements must be clear, pertinent, dependable, and similar. The financial condition of an organization is directly tied to the reported assets, liabilities, equity, income, and expenses.To learn more about financial statements, refer to:
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The cash flow associated with buying and selling inventory is not affected by the inventory cost flow method. This statement is?.
The statement is true, It is independent of when payments are identified
What is cost flow method?There are several methods for accounting for cost flow. LIFO (last in, first out), FIFO (first in, first out), specific identification, and weighted-average cost are examples. For example, the prices of raw materials may fluctuate over time, with some being more expensive than others. The term cost flow assumptions refers to the process of removing costs from a company's inventory and reporting them as cost of goods sold. Cost flow assumptions in the United States include FIFO, LIFO, and average. (There is no need to make an assumption if specific identification is used.) A perpetual inventory system balance is compared to an actual physical count using the basic cost flow model.
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bart earns $100,000 per year as an auto mechanic. he has a loss of income disability policy with a benefit of $5,000 per month. he suffers a disability to his left hand while working on a porsche cayenne. as a result of his injury, he has to work a desk job earning $60,000. how much in disability benefits will he receive
Disability benefits will he receive - $2,000 per month
What is benefits?
Employee benefits as well as benefits in kind (also known as perks and benefits, perquisites, or perks) are non-wage compensation offered to employees in addition to their regular wages or salaries. A "salary packaging" or "salary exchange" arrangement occurs when an employee exchanges (cash) wages for some other type of benefit. Most types of employee benefits are subject to taxation to some extent in most countries. Housing furnished or unfurnished, including or without free utilities; group insurance (health, dental, life, and so on); disability income protection; pension benefits; daycare; tuition reimbursement; sick leave; vacation; social security; profit sharing; employer college loan contributions; conveyancing; long service leave; household staff (servants); and other specialised benefits are examples of these benefits.
Bart is entitled to receive loss of income benefit of $5,000 per month when his income is- $100,000 per year. Due to a disability, his income is reduced to $60,000 per year.
(Using simple unitary method)
When income was $100,000- benefit to be received $5,000/month
When income is $1(using unitary method)- benefit to be received will be $5,000/$100,000
When income is $60,000- benefit to be received will be $5000/$100,000*$40,000(amount of income reduced by)
which is equal to $2,000/month
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