According to the Fair Labor Standards Act of 1938, an employee who works more than the maximum of forty hours per weeks must be paid no less than 1.5 times his/her regular pay rate for all hours over forty (Hollowell & Miller, 2012). The FLSA takes concern in child labor laws, minimum wages, and overtime provisions. Overtime is usually referred to as “time and a half”, which means you are paid one and a half times the hourly rate for each hour worked over the forty hour limit. In this case, I only achieved more than forty hours for the first two weeks. Since I am a non-exempt employee, I have to be paid minimum wage: $7.25 as of July 24, 2009 (Hollowell & Miller, 2012).
However employers do not have to give sick pay if the employee has been ill for less than 4 days, or is paid less than £111 a week. In this situation, both the employee and employer can benefit from this legislation. In regards to Holiday Entitlement, current legislation states that any employee working 5 days a week is entitled to 28 days of paid leave a year. Employees are also allowed to build up their holiday entitlement, depending on their contract, for example if they don't use all their 28 days in one year, the extra days can be added to the next year, as long as this is fewer than 8 days. However the law enables employers to decide whether employees are paid for bank holidays.
The FMLA to be included, Firstly, an employee must work for a company that has at least 50 employees working with in a 75-mile radius. Employees of smaller companies are simply not entitled to any time off - unless a state statute so provides. Second, the employee must have worked for the employer for 12 months, and have worked at least 1250 hours in the past 12 months. In other words, many part-time employees and those newly hired are not protected by this statute. A "key employee" (salaried, exempt, and among the top 10% highest paid employees within 75 miles), receives no FMLA protection at all.
1. Point: There was only a limited quantity of air in the submarine: it would last twenty men for less than two days, but it would be sufficient for five men to survive until a rescue arrived. Quotation: “…rescue was impossible for five days, more like a week, and they had air for less than two days.” (page
Some of the fringe benefits of working at IndyGo are Vacations are progressive up to six week for 28 years of service, 32 hours of personal time, up to 1800 hours of paid sick time, paid time off for court appearances, free transportation for employee and dependents, along with uniform and tool allowance. A. When asking the labor relations person Michael Birch he estimated the cost per employee for fringe benefits averages around $32.00. He could not give me a definite figure as he is new to the position and because others are current in labor relations they were not willing to discuss the cost at this time. Q6.
(TCO 3) As production occurs, materials, direct labor, and applied manufacturing overhead are recorded in (Points : 5) Question 4.4. (TCO 8) A company keeps 60 days of materials inventory on hand to avoid shutdowns due to materials shortages. Carrying costs average $5,000 per day. A competitor keeps 30 days of inventory on hand, and the competitor's carrying costs average $2,000 per day. The value-added costs are (Points : 5) Question
Lead time for both these subassemblies is one week, and no inventory is expected to be on hand for either part at the beginning of week 1. There is not any on-hand inventory of part 3079, and there are no orders in process. Ed Szewczak earns $22 per hour and gets a 50% premium for any overtime work. Whenever part 3079 is made, there is no set-up time, but processing takes 0.03 hour per unit. It costs $0.25 per week to hold any of these parts over from one week to the next.
The production process of each mold can take from two to four weeks, and the company is giving a lead-time of nine weeks. If orders for plastic parts come in with orders for the molds, there is a significant difference in time for how long each is being manufactured for. Additionally, despite there being a shorter lead time for plastic parts, customers complained that they were receiving their parts in four to five weeks instead of the published lead time of three weeks that Custom Molds provided. Other bottlenecks, such as the same machinist always assigned to the mold design teams, are slowing down the process as well. Additionally, quality of the molds has begun to be an issue at Custom Molds.
Even though the manager is able to take up to 30 orders per hour, the kitchen is only able to handle half of the amount of orders in the same amount of time. If the Swanky Hotel were to add 1 more chef, they would be able to process 18.75 orders per hour, which would mean they
Essay 3 When businesses find ways to internalize externalities they can make more money. Discuss why shopping malls charge a low price per square meter to department stores like Galeria Kaufhof, a medium price to stores like H& M, and a high price per square meter to jewelry stores and food vendors. “Externalities are the costs or benefits that affect people who are not directly involved in the production or consumption of a good or a service.” 1Thus, externalities are not limited to the parties participating in the market i.e. to producers and consumers but also affect other people in the society. Externalities cause deadweight loss which can lead to market failure.