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Magnum Plus, Inc., is a manufacturer of hunting supplies. The following is a summary of the company’s annual payroll-related costs:
Wages and salaries expense (of which $2,200,000 was withheld from employees’ pay and forwarded directly to tax authorities) Payroll taxesWorkers’ compensation premiumsGroup health insurance premiumsContributions to employees’ pension plan⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯⋯$7,200,000580,000250,000725,000450,000
c. Express total payroll-related costs as a percentage of (1) total wages and salaries expense, and (2) employees' take-home pay. (Round computations to the nearest 1 percent.)
Jameel is the owner of a driving school. He can sell more driving courses by hiring more driving teachers. Each extra driving instructor, however, reduces Jameel's ability to produce driving lessons because he only owns a finite number of teaching vehicles. The production function for Jameel each day is displayed in the table that follows. The cost of each driving lesson is $35 per hour.
Quantity of labor Ydriving instructors) 0123456 Quantity of driving lessons (hours) 081521263033
For each of the following daily driving instructor compensation rates: $160,$180, $200,$220,$240, and $260. ascertain Jameel's labour demand schedule (his demand schedule for driving instructors).
Match the terms with the definitions. Some terms may not be used.
a. attractive nuisance
b. coinsurance clause
e. homeowners insurance
f. liability coverage
h. personal property floater
i. renters insurance
j. replacement value
I. uninvited guest
__ Insurance that protects property owners from property and liability risks