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WebTerms in this set (60) Goals of the chapter: Explain the major provisions of the Fair Labor Standards Act. Define hours worked. Describe the main types of records used to collect payroll data. Calculate regular and overtime pay. Identify distinctive compensation plans. What does FLSA stand for? Fair Labor Standards Act. WebFind the average daily balance if Strong's had an unpaid balance on March 1 1 of \$128.50 $128.50, a payment of \$ 20 $20 posted on March 6 6 , and a purchase of \$ 25.60 $25.60 posted on March 20 20 . The billing cycle ends March 31 31 . 2. Find the monthly interest rate if the annual rate is 15.6 \% 15.6%. Verified answer. WebAug 21, 2024 · FLSA stands for Fair Labor Standards Act. According to the United States Department of Labor, it “establishes minimum wage, overtime pay, recordkeeping, and child labor standards affecting full-time and part-time workers in the private sector and in Federal, State, and local governments.”. It was originally drafted in 1932 by Senator Hugo ... find the natural abundance of ir -193