A dispute between labor and management at an automobile production plant has effectively stopped production for 2 months and has cost the company a tremendous amount of money. Despite the use of third parties, neither side can agree on a solution, but they do agree that the dispute must be settled soon. How should this dispute at this stage be settled

Answers

Answer 1

Answer:

Arbitration

Explanation:

The arbitration process seems to be the best way to make the settlement process happen in this case. The arbitration process will be between labor and management as an impartial third party (arbitrator or arbitral tribunal) takes charge of the process. Once both parties have agreed to arbitraueb, the arbitrator then proffers powerful ways of ensuring dispute resolution in such a way that a mutual agreement is reached by both labor and management. Even though proferred solution shouldn't be compulsorily adopted by the conflicting parties.


Related Questions

What would cause an economy to be producing at a point inside its production possibilities curve?

Answers

Answer:

The correct answer is: the lack of effectivization in the use of their resources inside the economy to obtain the best outcomes possibles.

Explanation:

To begin with, in the economic theory the term known as production possibilities curve refers to a strategic tool, a graphic that can be used by the professionals of the area in order to understand how the economy is working with its resources, if the economy is producing well enough then the economy should be getting great development results and the point inside the graphic should be in the limit of the curve, but if the point is in the inside of the curve then that means that the resources inside that particulary economy are not being fully use to their best in order to obtain the best outcome so that will explain that there is still possibility to expand the production according to the theory of the tool itself.

A researcher wants to test the order of integration of some time series data. He decides to use the DF test. He estimates a regression of the form
delta yt = mu + si yt-1 + mut
and obtains the estimate ˆ? = -0.02 with standard error = 0.31.
(a) What are the null and alternative hypotheses for this test?
(b) Given the data, and a critical value of -2.88, perform the test.
(c) What is the conclusion from this test and what should be the next step?
(d) Why is it not valid to compare the estimated test statistic with the corresponding critical value from a t-distribution, even though the test statistic takes the form of the usual t-ratio?

Answers

Answer:

a) H0: u = presence of a unit root

   HA: u ≠ presence of a unit root  ( i.e. stationary series )

b) t stat = -0.064

c) We will reject the Null hypothesis and the next step will be to accept the alternative hypothesis

d) It is not valid to compare the estimated t stat with the corresponding critical value because a random walk is non-stationary while the difference is stationary because it is white noise

Explanation:

a) stating the null and alternative hypothesis

H0: u = presence of a unit root

HA: u ≠ presence of a unit root  ( i.e. stationary series )

b) performing the test

critical value = -2.88

T stat = coefficient / std error

          = -0.02 / 0.31  = -0.064

c) From the test, the value of T stat > critical value we will reject the Null hypothesis hence the next step will be to accept the alternative hypothesis

d) It is not valid to compare the estimated t stat with the corresponding critical value because a random walk is non-stationary while the difference is stationary because it is white noise

   

When coins were jfirst used, they only had an image on one side. Why did coins start to have images on two sides?

Answers

Answer:

The coins have images on both sides because the coin issuers, or seigniors, wanted to see their faces on the coins.

Coins start to have images on two sides because the coin issuers, or seigniors, wanted to see their faces on the coins.

When and why were coins used as money?

People traded products and services before money was created. The Mesopotamian people did not invent the shekel, which is regarded as the first known form of money, until roughly 5,000 years ago. Printed coins were used to pay troops, it was approximately 650–600 B.C. when gold and silver coins first appeared. The first real coins were struck in the prehistoric kingdoms of Lydia and Ionia and were made of electrum, a mineral composed primarily of gold and at least 20 percent silver.

The Lydians started minting gold coins in the period between 560 and 546 BC after learning how to separate the gold from the silver in electrum. Coins are significant historical primary sources. They communicate king names together with their titles, images, locations, dates, dynasties, accomplishments, and logos.

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Collins Corporation uses a predetermined overhead rate based on direct labor cost to apply manufacturing overhead to jobs. The following information applies to the Collins Corporation for the current year: Direct Labor-Hours: Estimated for the Year 24,000 Actual Hours Worked 19,500 Direct Labor Cost Estimated for the Year 300,000 Actual Cost Incurred 210,000 Manufacturing Overhead Estimated for the Year 240,000 Actual Cost Incurred 185,000 Beginning Balance Ending Balance Raw Materials 14,000 22,000 Work in Process 27,000 9,000 Finished Goods 62,000 77,000 The manufacturing overhead cost for the current year will be: a. $17,000 overallocated. b. $17,000 underallocated. c. $55,000 overallocated. d. $55,000 underallocated.

Answers

Answer:

b. $17,000 underallocated

Explanation:

Given the information above, the computation of manufacturing overhead cost for the current year is seen below;

First, we will compute the predetermined overhead cost

= Estimated manufacturing overhead / Estimated direct labor hour

Suppose the annual inflation rate in the US is expected to be 2.5 %, while it is expected to be 18.00 % in Mexico. The current spot rate (on 1/1/X0) for the Mexican Peso (MXN) is $0.1000. If the spot rate of MXN turns out to be $0.085 on 1/1/X1, the net cash flow of a US importer from Mexico will: Group of answer choices Increase Decrease

Answers

Answer:

Increase

Explanation:

In putting the question into a better perspective let us assume that the US importer buys goods from Mexico every year to the Tune of 1,000,000 Mexican Pesos.

The expected exchange rate  on 1/1/X1=$0.1000*(1+2.5%)/(1+18%)

The expected exchange rate  on 1/1/X1=$0.086864407

Amount paid based on expected exchange rate=1,000,000*$0.086864407

Amount paid based on expected exchange rate=$86,864.41

Amount paid based on actual exchange=1,000,000*$0.085

Amount paid based on actual exchange=$85,000

The above means that the US importer paid a lesser amount($85000) than it should have paid, hence, its net cash flow would increase due to a reduction in payment

Porter Corporation has fixed costs of $660,000, variable costs of $24 per unit, and a contribution
margin ratio of 40 percent.
Compute the following:
a. Unit sales price and unit contribution margin for the above product.
b. The sales volume in units required for Porter Corporation to earn an operating income of
$300,000.
c. The dollar sales volume required for Porter Corporation to earn an operating income of
$300,000

Answers

Answer and Explanation:

The computation is shown below:

a. The unit sale price is

But before that the variable cost ratio is

= 100% - 40%

= 60%

Now the unit sale price i

= $24 × 100% ÷ 60%

= $40

Now the contribution margin per unit is

= $40 - $24

= $16

b. the sales volume in units is

= Fixed cost + operating income ÷ contribution margin per unit

= ($660,000 + $300,000) ÷ $16

= 60,000 units

c. Sales volume in dollars is

= Fixed cost + operating income ÷ contribution margin ratio

= ($660,000 + $300,000) ÷ 40%

= $2,400,000

The estimated factory overhead cost for a Co. is $1750000 for the year. Direct labor hours are estimated to be 500000. Determine: SHOW ALL WORK a. Predetermined factory overhead rate. $ b. Determine the factory overhead applied assume the actual direct labor hours for Job 50 was. 20000 and for J0b 51 was 24000 . c. Determine the balance in the factory overhead account assuming that the actual cost incurred was $153000. d. Over or under-applied

Answers

Answer:

Results are below.

Explanation:

To calculate the predetermined manufacturing overhead rate we need to use the following formula:

Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base

Predetermined manufacturing overhead rate= 1,750,000 / 500,000

Predetermined manufacturing overhead rate= $3.5 per direct labor hour

Now, we can allocate overhead to Job 50 and 51:

Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base

Job 50:

Allocated MOH= 3.5*20,000

Allocated MOH= $70,000

Job 51:

Allocated MOH= 3.5*24,000

Allocated MOH= $84,000

Finally, the under/over applied overhead:

(We weren't provided with enough information)

Under/over applied overhead= real overhead - allocated overhead

During 2015, a construction company changed from the completed-contract method to the percentage-of-completion method for accounting purposes but not for tax purposes. Gross profit figures under both methods for the past three years appear below:
Completed-Contract Percentage-of-Completion
2013 $ 475,000 $ 900,000
2014 625,000 950,000
2015 700,000 1,050,000
$1,800,000 $2,900,000
Assuming an income tax rate of 40% for all years, the affect of this accounting change on prior periods should be reported by a credit of:____________

Answers

Answer:

$450,000

Explanation:

Calculation to determine , the affect of this accounting change on prior periods that should be reported by a credit of:

Using this formula

Accounting change on prior periods=(2013 Percentage-of-Completion+2014 Percentage-of-Completion)-(2013 Completed-Contract+2014 Completed-Contract)*(1-Tax rate)

Let plug in the formula

Accounting change on prior periods=[($900,000+$950,000)-($475,000+$625,000)]*(1-40%)

Accounting change on prior periods=($1,850,000-$1,100,000)*0.60

Accounting change on prior periods=$750,000*.60

Accounting change on prior periods=$450,000

Therefore Assuming an income tax rate of 40% for all years, the affect of this accounting change on prior periods should be reported by a credit of:$450,000

You own a portfolio that has $2,600 invested in Stock A and $3,600 invested in Stock B. If the expected returns on these stocks are 12 percent and 15 percent, respectively, what is the expected return on the portfolio

Answers

Answer:

the  expected return on the portfolio is $7,052

Explanation:

The computation of the expected return on the portfolio is shown below:

Stock A return = $2,600 + 12% of 2600 = $2,912

And,  

Stock B return = $3,600 + 15% of 3600 = $4,140

So,  

Expected return on portfolio is

= $2,912 + $4,140

= $7,052

hence, the  expected return on the portfolio is $7,052

Perpetual Life Corp. has issued consol bonds with coupon payments of $50. (Consols pay interest forever and never mature. They are perpetuities.)a. If the required rate of return on these bonds at the time they were issued was 5.0%, at what price were they sold to the public

Answers

Answer: $1,000

Explanation:

The price of a perpetual bond is calculated like a perpetuity and this is calculated by dividing the coupon payment of the bond by the prevailing required rate of return.

Price of this bond is:

= Coupon payment / Required return

= 50 / 5%

= $1,000

The following information pertains to Cullumber Company. 1. Cash balance per bank, July 31, $11,310. 2. July bank service charge not recorded by the depositor $65. 3. Cash balance per books, July 31, $11,440. 4. Deposits in transit, July 31, $4,615. 5. $2,600 collected for Cullumber Company in July by the bank through electronic funds transfer. The accounts receivable collection has not been recorded by Cullumber Company. 6. Outstanding checks, July 31, $1,950. (a) Prepare a bank reconciliation at July 31, 2022.

Answers

Answer:

See below

Explanation:

Cullumber Company

Bank Reconciliation

July 31, 2022

Cash balance as per bank

$11,310

Add:

Deposits in transit

$4,615

Less:

Outstanding checks

($1,950)

Adjusted bank balance

$13,975

Cash balance per books

$11,440

Add:

Electronic fund transfer received

$2,600

Less:

Bank service charges

($65)

Adjusted cash balance

$13,975

The balance in the Prepaid Insurance account after the adjusting entries have been recorded represents the: A. cost of the insurance expired during the period B. value of the insurance prepayment that remains to benefit future periods C. cash paid for insurance of current and future periods D. amount owed for insurance at the end of the accounting period

Answers

Answer:

B.value of insurance prepayed

If a coupon bond has two years to​ maturity, a coupon rate of 10 ​%, a par value of ​$1000 ​, and a yield to maturity of 12 ​%, then the coupon bond will sell for ​$nothing . ​ (Round your response to the nearest two decimal​ place) The price of a bond and its yield to maturity are ▼ positively related negatively related unrelated .

Answers

Answer:

The right solution is "$966.27".

Explanation:

Given values are:

Coupon rate,

= 10%

Par value,

= $1000

Yield of maturity,

= 12%

then,

Coupon will be:

= [tex]1000\times 10 \ percent[/tex]

= [tex]1000\times 0.1[/tex]

= [tex]100[/tex] ($)

Now,

The present value of coupon will be:

= [tex]A\times \frac{(1-(1+r)^n)}{r}[/tex]

By putting the value, we get

= [tex]100\times \frac{1-(1.12)^{-2}}{0.12}[/tex]

= [tex]100\times \frac{1-0.7971}{0.12}[/tex]

= [tex]100\times \frac{0.2029}{0.12}[/tex]

= [tex]169.08[/tex] ($)

The present value of par value will be:

= [tex]\frac{1000}{(1+12 \ percent)^2}[/tex]

= [tex]\frac{1000}{(1.12)^2}[/tex]

= [tex]797.19[/tex] ($)

hence,

The price of bond will be:

= [tex]Present \ value \ of \ coupon+Present \ value \ of \ par \ value[/tex]

= [tex]169.08+797.19[/tex]

= [tex]966.27[/tex] ($)

Dermody Snow Removal's cost formula for its vehicle operating cost is $3,080 per month plus $338 per snow-day. For the month of December, 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 December would be closest to:

Answers

Answer:

$386 U

Explanation:

Calculation to determine what The spending variance for vehicle operating cost in December 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 December would be closest to:

$386 Unfavorable

Galaxy Corp. is considering opening a new division to make iToys that it expects to sell at a price of $15,250 each in the first year of the project. The company expects the cost of producing each iToy to be $6,700 in the first year; however, it expects the selling price and cost per iToy to increase by 3.00% each year.
Based on the preceding information and rounding dollar amounts to the nearest whole dollars, the company expects the selling price in the fourth year of the project to be_______ , and it expects the cost per unit in the fourth year of the project to be _______.
Which of the following statements about inflation’s effect on net present value (NPV) is correct?
A. When the selling price and cost per unit are expected to increase at the same rate, forgetting to take inflation into account in a capital budgeting analysis will typically cause the estimated NPV to be lower than the true NPV.
B. When the selling price and cost per unit are expected to increase at the same rate, you do not need to take inflation into account when performing a capital budgeting analysis.

Answers

Answer and Explanation:

The computation is shown below:

1

The calculation of the Expected selling price in the fourth year is  

Expected Selling Price in year 1 $15,250

Expected Annual Growth rate  is 3%

So,

Expected Selling Price in year 4 = 15250  × (1+3%)^3

= $16,664

2

The Calculation of Expected Cost per unit in the fourth year is  

Expected Selling Price in year 1 =  $6,700

Expected Annual Growth rate   =  3%

So,  

Expected Selling Price in year 4 = 6700  × (1+3%)^3

= $7,321

3

Inflation’s effect on net present value (NPV):

In the case when the selling price and the cost per unit rises at the similar rate so it is forgot to considered the inflation this will result in NPV that should be lower than the true NPV

PillPack is an example of a startup organization that grew out of the identification of a problem that needed a solution.

a. True
b. False

Answers

Answer:

True

Explanation:

Case Study
Imagine working in an organization where employee morale is low, turnover is high, and the costs of hiring are astronomical. If that were the case, you'd imagine the employer would go to great lengths to find, attract, and retain quality employees. Couple this goal with the reality of the economic picture -you simply cannot afford to provide expensive benefits for employees who may leave you for a different employer offering an extra $1,000 in salary or benefits. Knowing that 41 percent of all employees have no loyalty to their employers and will move on if a better offer comes adds to the dilemma. These issues clearly are a concern for organizations like Genentech or Zappos. But they don't fret over them. That's because they have found that treating employees with respect, and giving them such things as bonuses, rewards for longevity, onsite child care, lunches, and sending employees home with prepared dinners really works. Genentech is a California company that "develops and produces drugs that cure diseases," according to the company website. The company celebrated its thirteenth year on Fortune's "Best Places to work" list in 2011, also receiving "Best Places to Work" honors from Working Mother, LGBT Equality, and Computerworld. The reasons for this recognition are the important work that they do and the strong company culture that values equality and communication. Any discussion of how great it is to work at Genentech always circles back to the benefits that show a real respect for employees. In addition to traditional benefits like retirement and healthcare, they provide family friendly perks such as unlimited sick leave, personal concierge service, flexible work scheduling, childcare, nursing mother's rooms, onsite nurses, adoption assistance, and company sponsored family events. The list of innovative benefits goes on to include unusual benefits like pet insurance, free snacks, and paid six-week sabbaticals every six years! Zappos, the online shoe retailer, offers perks that match their fun-loving culture like pajama parties, nap rooms, regular happy hours, and a full-time life coach. Have these benefits worked for Genentech and Zappos? Ifyou translate longevity to morale and loyalty, you'd say they have. Both boast low turnover rates and high employee ratings for workplace satisfaction.
Q1) Describe the importance of employee benefits as a strategic component of fulfilling the goals of HRM at Genentech and Zappos?
Q2) Explain how Genentech and Zappos use employee benefits as a motivating tool?
Q3) Do you believe the incentive benefits such as those offered at Genentech and Zappos can be used in other organizations? Why or why not?

Answers

Answer:

1) Through employee benefits, the goals of HRM are achieved in effective ways.

2) Genentech also Zappos, try to make it a fun place to go to work at. Genentech and Zappos offer many benefits to employees that would attract and keep employees within the organization.

3) From a knowledgeable view, I actually believe that the motivation benefits as presented by the Genentech and Zappos Corporations can't be employed by other major or maybe small corporations.

Explanation:

1) The importance of employee benefits as a strategic component fulfilling the goals of HRM at Zippos and Genentech is that it can boost low turnover rates and high employee ratings for fulfillment. With placing benefits, employees will have the sensation of being more of an asset to the corporate instead of just being a worker. Thereupon employees would dedicate and put far more effort and time for better for the corporate which might then increase and generate more productivity and profit. When employees desire they need to be benefited from the organization successively they might become loyal to the organization and can stay rather than likely move to a different organization. Employees will tend to be more motivated to figure. Through employee benefits, the goals of HRM are achieved in effective ways.

2) Genentech also Zappos, struggle to form a fun place to travel to figure at. Genentech and Zappos offer many benefits to employees that might attract and keep employees within the organization. The good thing about benefits it can provide meaning and value to employees which will increase the worker's enthusiasm and morale within the work environment. With this, employees will then become more motivated to extend performance and feel secure within the organization which may cause low turnover rates and highly satisfied employees.

3) From a knowledgeable view, I actually believe that the motivation benefits as presented by the Genentech and Zappos Corporations can't be employed by other major or maybe small corporations. The motivation benefits offered at Genentech and Zappos Corporations are unique to their companies. I think that if other Corporations attempt to mirror the efforts of both Genentech and Zappos that their businesses would simply cease to exist. Companies today just don’t have the sustainability to take care of these lofty incentive packages for a three-year, five years, or even ten-year plan. Most companies simply don’t have the financial capital that the efforts of the Genentech and Zappos Corporations.

what kind of life insurance policy issued by mutual insurer provides a return od divisible surplus

Answers

Answer:

participating life insurance policy <- A mutual insurer issues life insurance policies that provide a return of divisible surplus.

brainliest would help :)

Irwin Company has budgeted direct labor hours for the coming three months as follows: July, 6,500 hours; August, 8,100 hours; and September, 8,300 hours. Manufacturing overhead is budgeted at $13,300 per month plus $3.30 per direct labor hour. What is the budgeted manufacturing overhead for August

Answers

Answer:

the  budgeted manufacturing overhead for August is $40,030

Explanation:

The computation of the budgeted manufacturing overhead for August is shown below:

= Budgeted manufacturing overhead + direct labor hour rate × direct labor hours for august

= $13,300 + $3.30 × 8,100 hours

= $13,300 + $26,730

= $40,030

Hence, the  budgeted manufacturing overhead for August is $40,030

examine the value of interactive leadership in the public sector and demonstrate its capacity to empower the followers​

Answers

The correct answer to this open question is the following.

The value of interactive leadership in the public sector can be seen in the efficiency and effectiveness of the work done by the cabinet of the executive branch. Many different departments and public offices are managed using interactive leadership, informing employers of what needs to be done and the reason why.

Interactive leadership has the capacity to empower employers because it maintains open lines of communication, informing about key activities that need to be done, ​clarifying goals, establishing strategies, and facilitating the tools to perform and be effective.

The public sector is comprised of what is known as the bureaucracy, and in order to coordinate and lead this public sector, leaders have to properly interact with employers. These employers can openly and honestly express their concerns and opinions to the leader, who takes into consideration this input. The great advantage of using interacting leadership is that people know what is expected of them.

Married taxpayers Otto and Ruth are both self-employed and file a joint return. Otto earns $435,200 of self-employment income and Ruth has a self-employment loss of $23,100. How much 0.9 percent Medicare tax for high-income taxpayers will Otto and Ruth have to pay with their 2020 income tax return?

Answers

Answer: $1,458.90

Explanation:

As they are filing together, the first step would be to find out the taxable income after accounting for Ruth's loss.

Total taxable income = Otto's earnings - Ruth's loss

= 435,200 - 23,100

= $412,100

There is an additional 0.9% Medicare tax on the amount that people file that is above $250,000 when they file jointly and are married..

The additional Medicare will be:

= (412,100 - 250,000) * 0.9%

= $1,458.90

Angle Company started business on January 1. During the year, the company purchased merchandise with an invoice price of $500,000. Angle also paid $20,000 freight on the merchandise. During the year, Angle also returned $80,000 of the merchandise to its suppliers. All purchases were paid for in a timely manner, and a $10,000 cash discount was taken. $418,000 of the merchandise was sold for $627,000. What is the December 31 balance in the Inventory account

Answers

Answer:

$12,000

Explanation:

Given the above information, the ending balance in inventory account is computed as seen below

= Merchandise purchased - merchandise withdrawn - Merchandise returned to suppliers + Cash discount taken

= $500,000 - $418,000 - $80,000 + $10,000

= $12,000

Therefore, the balance on the inventory account as at December 31 is $12,000

In a closed economy, public saving is the amount of a. income that households have left after paying for taxes and consumption. b. spending that the government undertakes in excess of the taxes it collects. c. income that businesses have left after paying for the factors of production. d. tax revenue that the government has left after paying for its spending.

Answers

Answer:

In a closed economy, public saving is the amount of

d. tax revenue that the government has left after paying for its spending.

Explanation:

Public saving or budget surplus in a closed economy describes the excess of government revenue (obtained through taxation of individuals and businesses in the economy) and government expenditures on goods and services. In an open economy, transfers are deducted before arriving at the public saving.  In all economies, the addition of private (individual and business) and public savings result to national investments.

Mcdormand inc reported a 3400 unfavorable price variance for variable overhead and a $34,000 nfavorable price variance for fixed overhead. The flexible budget had variable overhead based on 36,100 direct labor-hours; only 34,100 hours were worked. Total actual overhead was $1,810,400. The number of estimated hours for computing the fixed overhead application rate totaled 37,500 hours.

Required:
a. Prepare a variable overhead analysis.
b. Prepare a fixed overhead analysis.

Answers

Answer:

A. Variable overhead price variance 3400 U

Variable overhead efficiency variance 60000 F

Variable overhead cost variance 56600 F

B. Fixed overhead price variance 34000 U

Production volume variance 28000 U

Fixed overhead cost variance 62000 U

Explanation:

a. Preparation of a variable overhead analysis.

Variable overhead price variance = 3400 U

Calculation for Variable overhead efficiency variance

First step is to calculate the Actual input at standard rate

Actual input at standard rate = (34100*30)

Actual input at standard rate= 1023000

Second step is to calculate the Standard rate

Standard rate = 1083000/36100

Standard rate=30

Now let calculate Variable overhead efficiency variance

Variable overhead efficiency variance = (1083000-1023000)

Variable overhead efficiency variance = 60000 F

Calculation for Variable overhead cost variance

Variable overhead cost variance = (60000-3400)

Variable overhead cost variance= 56600 F

Therefore the variable overhead analysis will be:

Variable overhead price variance 3400 U

Variable overhead efficiency variance 60000 F

Variable overhead cost variance 56600 F

b. Preparation of a fixed overhead analysis.

Fixed overhead price variance = 34000 U

Calculation for Production volume variances

First step is to calculate Actual input at standard rate

Actual input at standard rate= 34100*30

Actual input at standard rate= 1023000

Second step is to calculate Fixed overhead actual

Fixed overhead actual= 1810400-(1023000+3400)

Fixed overhead actual= 784000

Third step is to calculate Budgeted fixed overhead

Budgeted fixed overhead = (784000-34000)

Budgeted fixed overhead = 750000

Fourth step is to calculate Fixed overhead applied

Fixed overhead applied= (750000/37500)*36100

Fixed overhead applied= 722000

Now let calculate Production volume variance

Production volume variance = (750000-722000) Production volume variance= 28000 U

Calculation to determine Fixed overhead cost variance

Fixed overhead cost variance = (28000+34000) Fixed overhead cost variance= 62000 U

Therefore fixed overhead analysis will be:

Fixed overhead price variance 34000 U

Production volume variance 28000 U

Fixed overhead cost variance 62000 U

The following discussion focuses on the change in production and selling strategies of Timken Co., the Canton, Ohio, firm that is a major producer of bearings:

To counter the low prices of imports, Timken Co. in 2003 began bundling its bearings with other parts to provide industrial business customers with products specifically designed for their needs. Timken had begun bundling prelubricated, preassembled bearing packages for automobile manufacturers in the early 1990s. Evidence indicated that companies that sold integrated systems rather than discrete parts to the automobile manufacturers increased their sales. Other industrial customers put the same pressure on Timken in the late 1990s to lower prices, customize, or lose their business to lower-priced foreign suppliers. Manufacturers are increasingly combining a standard part with casings, pins, lubrication, and electronic sensors. Installation, maintenance, and engineering services may also be included. Suppliers, such as Timken, saw this as a means of increasing profits and making themselves more indispensable to the manufacturers. The strategy also required suppliers to remain in proximity with their customers, another advantage over foreign imports. This type of bundling does require significant research and development and flexible factories to devise new methods of transforming core parts into smart assemblies. The repackaging is more difficult for industrial than automobile customers because the volumes of production are smaller for the former. Timken also had to educate its customers on the variety of new products available.

Timken has an 11 percent share of the world market for bearings. However, imports into the United States doubled to $1.4 billion in 2002 compared with $660 million in 1997. Timken believes that the uniqueness of its product helps protect it from foreign competition. However, the company still lobbied the Bush administration to stop what it calls the dumping of bearings at low prices by foreign producers in Japan, Romania, and Hungary.

Required:
a. What factors in the economic environment, in addition to foreign imports, contributed to Timken’s new strategy in 2002 and 2003?
b. How does this strategy relate to the discussion of bundling presented in the chapter? What additional factors are presented in this case?

Answers

Answer:

Timken Co.

a. Factors in the Economic Environment that contributed to Timken;s new strategy in 2002 and 2003 in addition to foreign imports at cheaper prices:

1. The needs of industrial business customers for integrated systems

2. Lowering of prices resulting from bundling

3. Addition of installation, maintenance, and engineering services, leading to increasing profits

b. The relationship of this strategy to bundling

1. Remaining in proximity with customers

2. Significant research and development

3. Flexible factories

4. Education of customers on product variety

c. Additional factors presented in this case are:

1. Customization

2. Means of making entity more indispensable to manufacturers

3. Uniqueness of products

4. Lobbying to stop dumping

Explanation:

a) Data and Calculations:

Share of the world market for bearings = 11%

Value of bearing imports in 2002 = $1.4 billion

Value of bearing imports in 1997 = $660 million

b) Companies engage in bundling by offering their main products together with several others together with services as a single combined unit.  This strategy always lowers the bundled price when compared with the prices of the separate products and services.  Thus, companies that sell bundled products and services often achieve more sales at the expense of profits.

In order to produce a new product, a firm must lease equipment at a cost of $100,000 per year. The managers feel that they can sell 50,000 units per year at a price of $75. What is the highest variable cost that will allow the firm to at least break even on this project

Answers

Answer:

$73 = unitary variable cost

Explanation:

To calculate the unitary variable cost that will yield the break-even point, we need to use the following formula:

Break-even point in units= fixed costs/ contribution margin per unit

50,000= 100,000 / (75 - unitary variable cost)

3,750,000 - 50,000unitary variable cost= 100,000

3,650,000 = 50,000unitary variable cost

$73 = unitary variable cost

Here are selected 2017 transactions of Akron Corporation.

Jan. 1 Retired a piece of machinery that was purchased on January 1, 2007. The machine cost $62,000 and had a useful life of 10 years with no salvage value
June 30 Sold a computer that was purchased on January 1, 2015. The computer cost $36,000 and had a useful life of 3 years with no salvage value. The computer was sold for $5,000 cash
Dec. 31 Sold a delivery truck for $9,000 cash. The truck cost $25,000 when it was purchased on January 1, 2014, and was depreciated based on a 5-year useful life with a $4,000 salvage value.

Required:
Journalize all entries required on the above dates, including entries to update depreciation on assets disposed of, where applicable. Akron Corporation uses straight-line depreciation.

Answers

Answer:

Akron Corporation

Journal Entries:

Jan. 1 Debit Assets Disposal $62,000

Credit Equipment $62,000

To transfer the cost of equipment to the Assets Disposal account.

Debit Accumulated Depreciation $62,000

Credit Assets Disposal $62,000

To transfer the accumulated depreciation to the Assets Disposal account.

June 30 Debit Assets Disposal $36,000

Credit Computer $36,000

To transfer the cost of the computer to the Assets Disposal account.

Debit Accumulated Depreciation $30,000

Credit  Assets Disposal $30,000

To transfer the accumulated depreciation to the Assets Disposal account.

Debit Cash $5,000

Credit Assets Disposal $5,000

To record the proceeds from the disposal.

Dec. 31 Debit Accumulated Depreciation $12,600

Credit Assets Disposal $12,600

To transfer the accumulated depreciation to the Assets Disposal account.

Debit Assets Disposal $25,000

Credit Delivery Truck $25,000

To transfer the cost of the delivery truck to the Assets Disposal account.

Debit Cash $9,000

Credit Assets Disposal $9,000

To record the proceeds from the disposal.

Dec. 31 Debit Loss on Disposal of Assets $4,400

Credit Assets Disposal $4,400

To record the loss from the disposal of assets.

Explanation:

a) Data and Analysis:

Jan. 1 Accumulated Depreciation $62,000 Assets Disposal $62,000 Assets Disposal $62,000 Equipment $62,000

June 30  Assets Disposal $36,000 Computer $36,000 Accumulated Depreciation $30,000 Assets Disposal $30,000 Cash $5,000 Assets Disposal $5,000

Dec. 31 Accumulated Depreciation $12,600 Assets Disposal $12,600 Assets Disposal $25,000 Delivery Truck $25,000 Cash $9,000 Assets Disposal $9,000

Dec. 31 Loss on Disposal of Assets $4,400 Assets Disposal $4,400

When using email to request action, the subject line should be as vague as possible.

Question 7 options:
True
False

Answers

Answer:

False

Explanation:

When using an email to request an action the subject line should be brief but specific. Leaving a vague subject line can often confuse another, however, making the subject line too lengthy and specific defeats the purpose. The best subject lines are brief but give a general idea of what the email contains.

Answer:

False

Explanation:

To email someone to request action, you can't be vague or you might not get what you exactly want from that person.

Assume the following data for Cable Corporation and Multi-Media Inc.
Cable Corporation Multi-Media Inc.
Net income $31,200 $140,000
Sales 317,000 2,700,000
Total assets 402,000 965,000
Total debt 163,000 542,000
Stockholders'
equity 239,000 423,000
a1. Compute return on stockholders’ equity for both firms.
a-2. Which firm has the higher return?
A. Multi-Media Inc.
B. Cable Corporation
b. Compute the following additional ratios for both firms.

Answers

Answer:

a-1 Cable Corporation 13.05

Multi-media Inc. 33.1%

a-2 Multi-Media Inc.

2. Cable Corporation Multi-Media Inc.

Net income/Sales 9.84% 5.19%

Net income/Total assets 7.76% 14.51%

Sales/Total assets .79 times 2.80 times

Debt/Total assets 40.55% 56.17%

Explanation:

a-1. Computation to determine the return on stockholders’ equity for both firms.

CABLE CORPORATION

Using this formula

Return on Stockholders’ Equity= Net Income / Stockholder’s equity

Let plug in the formula

Return on Stockholders’ Equity=$31,200 / 239,000

Return on Stockholders’ Equity= 0.1305*100

Return on Stockholders’ Equity=13.05%

MULTI-MEDIA INC.

Return on Stockholders’ Equity=$140,000 / 423,000

Return on Stockholders’ Equity= 33.1%

a-2. Based on the above calculation the firm that has the higher return is MULTI-MEDIA INC.

b. Computation for the following additional ratios for both firms.

Cable Corporation Multi-Media Inc.

Net income/Sales 9.84% 5.19%

($31,200/317,000=9.84%)

($140,000/2,700,000=5.19%)

Net income/Total assets 7.76% 14.51%

($31,200/402,000=7.76%)

($140,000/965,000=14.51%)

Sales/Total assets .79 times 2.80 times

(317,000/402,000=.79 times

(2,700,000/965,000=2.80 times)

Debt/Total assets 40.55% 56.17%

(163,000/402,000=40.55%)

( 542,000/965,000=56.17%)

The Taylor Rule specifies that the federal funds rate target should be equal to:_________ a) equilibrium federal funds rate + inflation rate +1 b) interest rate - expected inflation rate. c) 1.5 (inflation rate) + 0.5 (GDP gap) + 1. d) 0.5 (inflation rate) +1.5 (GDP gap) + 1

Answers

Answer:A

Explanation:The Taylor Rule specifies that the federal funds rate target should be equal to O equilibrium federal funds rate + inflation rate +1 interest rate - expected inflation rate. 1.5 (inflation rate) + 0.5 (GDP gap) + 1. 0.5 (inflation rate) +1.5 (GDP gap) + 1

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