[olawaleoke]

please i need your assistant on this question
JK has budgeted sales for next year of 24,000 units and inventory levels are expected
to remain constant throughout the year. Each unit produced will require 3 labour hours
and the budgeted labour rate will be $15 per hour. It is estimated that 10% of units
produced will be wasted.
It is expected that 15% of the total hours worked will be paid at overtime rates. 10% of
the total hours will be paid at the basic rate plus an overtime premium of 50% of the
basic rate. 5% of the total hours will be paid at the basic rate plus an overtime premium
of 100% of the basic rate.
The labour cost budget for next year is:

[olawaleoke]

The elements which are directly related to the measurement of profit are Income and
Expenses.
i. In line with the above statement, what is Income?
ii. List TWO characteristics each of Capital Income and Revenue Income.

[Author]

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