Next week, Mortimer is preparing to go to work for the Illinois department of Child Services. He was surprised when his friends told him that he was going to have to pay one percent of his salary to the union that represents the unionized workers that would include Mortimer, whether he joined the union or not - a so-called agency fee to prevent 'free riders'. This was for services provided to Mortimer, including collective bargaining and grievance representation. Mortimer was shocked - no one had told him about this! What advice would you provide to Mortimer?

Answers

Answer 1

Answer:

The implication is that the Illinois Department of Child Services is a unionized workplace.

Mortimer will derive better benefits that surpass the costs of membership.  He is covered in all collective bargains, even when he resigns his union membership.  Unions negotiate for better working conditions, higher pays, and improved benefits.

When Mortimer has any grievance against the department, the union will also represent him, thereby making his life easier since unions can negotiate better with employers than individual workers.

Mortimer is even lucky to find a job at a unionized workplace because the jobs are not usually advertised as union members easily bring in their relatives and friends to occupy such vacancies.

Explanation:

Most of the disadvantages that Mortimer should complain about unions are disadvantages to the employer and not to him as an individual worker.  For the employer, the union acts as a form of monopoly that can decide whether the workers would work or not.  The unionized workers are not easy to replace with other workers.


Related Questions

Chuck has $2,500 invested in a bank that pays 4% annually. The length of time it will take for his funds to double is closest to:

Answers

Answer:

The answer is 17.67 years.

Explanation:

Present value is $2,500

Future value of the money to be double of the present value. This means the future value will be $5,000($2,500 x 2)

Interest rate is 4%

Number of years or periods to reach this $5,000 is unknown. So we are looking for this.

To compute this number of periods, lets use Financial calculator.

I/Y = 4; PV= -2,500; FV= 5,000; CPT N= 17.67 years.

Therefore, the number of years to accumulate to $5,000 is 17.67 years

McKerley Corp. has preferred stock outstanding that will pay an annual dividend of $3.70 per share with the first dividend exactly 14 years from today. If the required return is 3.6 percent, what is the current price of the stock?

Answers

Answer:

$64.89

Explanation:

Calculation for the current price of the stock

First step is to find the preference stock value at end of 13 years

Using this formula

P13= Annual dividend/Required return

Let plug in the formula

P13=$3.70/.036

P13= $102.78

The second step is to calculate for the current price of the stock

Using this formula

P0= P13/(1+Required return)^Dividend years

Let plug in the formula

P0= $102.78/(1 + .036)^13

P0=$102.78/(1.036)^13

P0=$102.78/1.5837

P0=$64.89

Therefore the current price of the stock will be $64.89

Concord Corporation has 8,800 shares of common stock outstanding. It declares a $3 per share cash dividend on November 1 to stockholders of record on December 1. The dividend is paid on December 31. Prepare the entries on the appropriate dates to record the declaration and payment of the cash dividend

Answers

Answer:

Declaration date:

Dr retained earnings $26400

Cr dividends payable          $26400

Payment date:

Dr dividends payable $26400

Cr Cash                                                  $26400

Explanation:

Total dividend declared is the number of shares multiplied by cash dividend per share

total dividend=$3*8,800=$26400

On the record date no entries are required since record date, is just about verifying the bonafide shareholders.

On declaration date,dividends payable would be credited with $26,400 while retained earnings is debited.

On payment date,dividends payable is debited and cash credited

A project has cash flows of -152,000, 60,800, 62300, and 75000 for years 0 to 3 respectively. The required rate of return is 13 years percent. Based on the internal rate of return of__________percent, you should________the project.

Answers

Answer:

Based on the IRR of 14.05 percent, you  should be accept the project

Explanation:

Internal rate of Return is the discount rate of that equates the present value of cash inflows to the initial cost. It is the maximum cost of capital that can be used to evaluate a project without causing harm to the shareholders.

It is calculated as follows:

IRR = a% + ( NPVa/(NPVa + NPVb)× (b-a)%

NPV = PV of cash inflows - initial cost

Step 1: NPVa at 13% discount rate

PV of cash inflow =  60,800× 1.13^(-1) + 62300 ×1.13^(-2) +   75000 ×1.13^(-3)

                           =  154,574.11  

NPVa =  154,574.11   - 152000 =  2,574.11  

Step 2: NPVb  at 20%

PV of cash inflow = 60,800× 1.20^(-1) + 62300 ×1.20^(-2) +   75000 ×1.20^(-3)   =  137,333.33  

NPVb =  137,333.33   - 152,000 =  (14,666.67)

Step 3: IRR

IRR = 13% + ( 2,574.11  /(2,574.11  + 14,666.67) )× (20-13)%

IRR = 14.05%

Based on the IRR of 14.05%, the project you  should be accept the project

Since the IRR (14.05%) is greater than the required rate rate (13%) , the project should be accepted. An IRR which is  higher than the hurdle rate implies that the project would increase the wealth of the shareholders

Hoosier Manufacturing operates a production shop that is designed to have the lowest unit production cost at an output rate of 145 units per hour. In the month of July, the company operated the production line for a total of 265 hours and produced 30,400 units of output.What was its capacity utilization rate for the month?

Answers

Answer:

79.1%

Explanation:

Hoosier manufacturing operates a production shop that is modelled to have the lowest unit of production

The output rate is 145 units per hour

In the month of July the company operated the production line for 265 hours

30,400 units of output were produced

Therefore, the capacity utilization rate can be calculated as follows

= 30,400 units/265 hours ×145

= 30,400/38,425

= 0.791×100

= 79.1%

Hence the capacity utilization rate for the month is 79.1%

A sales tax of $1 per unit of output is placed on one firm whose current equilibrium price is $5 and current equilibrium quantity is 100 units. If you know that the elasticity of demand is -1 and the elasticity of supply is (infinity), then after the tax:

a. pb=6, ps=5, and QT=unknown but less than 100
b. pb=4, ps=5, and QT=unknown but less than 100
c. pb=6, ps=5, and QT=100
d. pb=4, ps=5, and QT=100

Answers

Answer:

B

Explanation:

B is the correct answer

ABC is a full-service technology company. They provide equipment, installation services as well as training. Customers can purchase any product or service separately or as a bundled package. Container Corporation purchased computer equipment, installation and training for a total cost of $144,000 on March 15, 2021. Estimated standalone fair values of the equipment, installation and training are $90,000, $60,000 and $30,000 respectively. The journal entry to record the transaction on March 15, 2021 will include a

Answers

Answer:

ABC

Journal Entries:

Debit Cash or Accounts Receivable (Container Corporation) $144,000

Credit Sales Revenue $72,000

Credit Installation Revenue $48,000

Credit Training Revenue $24,000

To record the sale of goods and services worth $144,000.

Explanation:

a) Data and Calculations:

Performance Obligations and Contract Price:

Computer equipment = $90,000/$180,000 x $144,000 = $72,000

Installation = $60,000 x 0.80 = $48,000

Training = $30,000 x 0.80 = $24,000

Total purchase costs = $144,000

b) The performance obligations and the consideration prices are allocated accordingly based on their separate consideration values.

Downtown Bancshares has 40,000 shares of $8 par common stock outstanding. Suppose Downtown declares and distributes a 16% stock dividend when the market value of its stock is $20 per share.
1. Journalize Downtown's declaration and distribution of the stock dividend on May 11. An explanation is not required.
2. What was the overall effect of the stock dividend on Downtown's total assets? On total liabilities?

Answers

Answer and Explanation:

1. The journal entry is shown below:

Retained earnings Dr (40,000 shares × 16% × $20) $128,000

         To Common stock   (40,000 shares × 16% × $8) $51,200

         To Paid in capital in excess of par value - common stock $76,800

(Being the declaration and the stock distribution is recorded)

2. Since the retained earnings is debited which reduced the equity by $128,000 but at the same time it also increased the equity via common stock and paid in capital by $128,000 so the overall effect should be NIL or zero

Also the assets and liabilities remains unaffected

Suppose purchasing power parity holds. If the price level in the United States is 100 dollars per good and the price level in Japan is 250 yen per good, then the nominal exchange rate is ________ yen per dollar.

Answers

Answer: 2.5 Yen

Explanation;

The Economic theory of Purchasing Power Parity when held, believes that prices of goods in different countries are the same if their exchange rates are taken into account.

For the above therefore it means that the price of the good is the same in both the US and Japan barring exchange rates.

Exchange rate is;

$100 = ¥250

$1 = 250/100

$1 = ¥2.5

Exchange rate is 2.5 yen per dollar.

Company ABC is required to pay their customers $20,000 after 3 years. Based on an annual effective interest rate of 4%, Andy, the company’s actuary, uses full immunization strategy to construct a portfolio of assets using a 2-year zero-coupon bond and a 4-year zero-coupon bond. Calculate the par amount for the 2-year zero-coupon bond assuming full immunization is met.

Answers

Answer:

Par amount = $9,615.39

Explanation:

The condition that must hold in order to meet full immunization are as follows:

Condition 1: PV(assets) = PV(liabilities)

Condition 2: MD(assets) = MD(liabilities) or P'assets = P'liabilities

Condition 3: There is one asset cash inflow before the liability cash outflow, and there is also one asset cash inflow after the liability cash outflow.

Where PV denotes Present Value and MD denotes Macaulay Duration.

PV(liabilities) = Amount required to pay / (1 + i)^n ............ (1)

Where;

Amount required to pay = $20,000

i = interest rate = 4%

n = number of years after = 3 years

Substituting the values into equation (1), we have:

PV(liabilities) = $20,000 / (1 + 4%)^3 = 17,779.93

Let;

A = Weight of two-year-zero-coupon bond in the portfolio

n = Macaulay Duration of n-year-zero-coupon bond

Therefore, we can construct a portfolio of assets using a 2-year zero-coupon bond and a 4-year zero-coupon bond as follows:

A(2) + (1 – A)(4) = 3

2A + 4 – 4A = 3

2A – 4A = 3 – 4

-2A = - 1

A = -1/-2

A = 0.5

We can now calculate the par amount as follows:

Par amount = PV(liabilities) * A * (1 + i)^t .............. (2)

Where t = 2 as the duration of the bond

Substituting the values into equation (2), we have:

Par amount = 17,779.93 * 0.5 * (1 + 4%)^2

Par amount = 17,779.93 * 0.5 * 1.04^2

Par amount = 17,779.93 * 0.5 * 1.0816

Par amount = $9,615.39

Therefore, the par amount for the 2-year zero-coupon bond assuming full immunization is met is $9,615.39.

A company’s common stock has a market value of $63.18 per share and its next dividend is expected to be $3.26 per share. The stock’s beta is 1.2, the tax rate is 35%, and the market risk premium is 6.1% per year. The yield to maturity for the company’s long-term debt is 6.4% per year. If the riskiness of the company’s equity requires that it provide a risk premium of 3.2% per year over the yield on its long-term debt, what is the company’s annual cost of internal equity financing?

Answers

Answer:

Cost of equity = 9.6%

Explanation:

The cost of equity is the return a firm theoretically pays to its equity investors, In order to calculate the cost of equity here we need to add up the yield to maturity for the company's long term debt and the risk premium per year over the yield on its long term debt.

Solution

Cost of equity = Yield to maturity + Risk premium

Cost of equity = 6.4% + 3.2%

Cost of equity = 9.6%

What is the value of a zero-coupon bond with a par value of $1,000 and a yield to maturity of 6.60%? The bond has 19 years to maturity.

Answers

Answer:

$296.90

Explanation:

For computing the value of the zero coupon bond we need to apply the present value formula i.e to be shown in the attachment below:

Given that,  

Future value = $1,000

Rate of interest = 6.60%

NPER = 19 years

PMT = $0

The formula is shown below:

= -PV(Rate;NPER;PMT;FV;type)

So, after applying the above formula, the value of zero coupon bond is would be $296.90

The most powerful of the five competitive forces is usually: Select one: a. The competitive pressures that stem from ready availability b. The competitive pressures associated with rivalry among competing sellers in the industry for buyer patronage c. The competitive pressures associated with the potential entry of new competitors d. The bargaining power and leverage that large customers are able to exercise

Answers

Answer:

b. The competitive pressures associated with rivalry among competing sellers in the industry for buyer patronage.

Explanation:

The Porter’s five forces of competition is a framework developed by Michael E. Porter in 1979, it is used to measure and analyze an organization's competitiveness in a business environment.

The Porter's five forces of competition framework are:

1. The bargaining power of suppliers.

2. The bargaining power of customers.

3. Threat posed by substitute products.

4. Threats posed by new entrants.

5. Threats posed by existing rivals in the industry.

The most powerful of the five competitive forces is usually the competitive pressures associated with rivalry among competing sellers in the industry for buyer patronage. When the amount of competitors (sellers), as well as the quantity of goods and services they provide are large, the lesser their competitive strengths or advantage in the market because the customers have a large pool of finished goods and services to choose from and vice-versa.

In the context of early advertising, the invention of the _____ made advertising via posters, handbills, and signs possible.

Answers

Answer:

The printing press.

Explanation:

The printing press and its form of works are known to be an early age form that have been used and still in use for advertising. Advertisements of this form are seen in form of newspapers or magazines and are sometimes included as brochures or fliers. Write ups used in the print media to grab the attention of the specific target audience comes under the purview of print advertising.

Newspapers readers and also other publications methods have a tendency to browse the print ads that they come across. Moves to purchase these products could possibly not be instantaneous, but it does settle down in their subconscious mind. Next time they see the product in the market, they are tempted to buy it.

When a job analyst watches employees directly or reviews films of workers on the job, which analysis method is being used?

Answers

Answer:

Observation method

Explanation:

Through observation, this analyst collects data by watching the employees directly. This is participatory because the analyst has to involve himself in the work environment where this employees are in other to collect data. This method would allow the analyst to have more reliable insights. He would get data based on what the employees do rather than what the Employees tell him that they do.

Digby's balance sheet has $99,131,000 in equity. Further, the company is expecting net income of 3,000,000 next year, and also expecting to issue $4,000,000 in new stock. If there are no dividends paid what will beDigby's book value

Answers

Answer:

Book Value = $106,131,000

Explanation:

DATA

Equity = $99,131,000

Expected Net Income = $3,000,000

New stock issued = $4,000,000

Solution:

We can calculate Digby's Book value by adding Equity, Expected Net Income and New Stock issued.

Calculation:

Book Value = Equity + expected net income + Bew stock issued

Book Value = $99,131,000+ $3,000,000+$4,000,000

Book Value = $106,131,000

Suppose that the income tax rate is reduced by the federal government and simultaneously a recession hits causing the economy to move below its potential output, this will:

Answers

Answer:

Raise both the cyclical and structural deficits

Explanation:

During economic downturn the cyclical deficit will rise, leading to rise in already structural deficit of federal government. The Structural deficit arises when government continue to spend more than its revenue, and thus cyclical deficit will add upward pressure in structural deficit.

Therefore there will be Raise in both the cyclical and structural deficits

In the consensus case, what is Amazon's enterprise value on the valuation date using the exit multiple terminal value

Answers

Answer:

The exit multiple expect that the market different premise is a reasonable strategy for esteeming a business. The estimation of the business is gotten by duplicating money related measurements, for example, EBITDA or EBIT by a factor that is basic to practically identical organizations that were as of late procured. A fitting scope of products can be created by taking a gander at late equivalent acquisitions in the open market.  

The various acquired is then increased by the anticipated EBIT or EBITDA in year N (last year of projection period) to give the future incentive toward the finish of year N. The future value (otherwise called terminal value) is then limited by a factor equivalent to the quantity of years in the projection time frame.  

The worth got is then added to the current estimation of the free incomes to acquire the suggested venture esteem. For repetitive organizations where profit vacillate as per varieties in the economy, we utilize the normal EBITDA or EBIT over the span of the particular recurrent as opposed to the sum in year N in the projection time frame.  

This implies an industry different is applied as opposed to applying a current numerous to consider the recurrent varieties of profit. On the off chance that investigators utilized a current numerous, the valuation would be influenced by financial cycles.

A Enterprise Value (EV) to Revenue Multiple is used to value a business by dividing its enterprise value by its annual revenue. The formula to calculate the Enterprise Value (EV) to Revenue Multiple is EV/Revenue

EV = Enterprise Value

EV can be denoted as (Equity Value + All Debt + Preferred Shares) – (Cash and Equivalents)

While Revenue = Total Annual Revenue

This can be calculated when we have a share price, shares outstanding, debt, and cash or its equivalence.

On January 31, 2016, Danvers Logistics, Inc., issued five-year, 7% bonds payable with a face value of $10,000,000. The bonds were issued at 96 and pay interest on January 31 and July 31. Danvers Logistics, Inc., amortizes bond discount by the straight-line method.

Record:
a. Issuance of the bonds on January 31, 2016.
b. The semiannual interest payment and amortization of bond discount on July 31, 2016.
c. The interest accrual and discount amortization on December 31, 2016.

Answers

Answer:

Journal entries are given below

Explanation:

Journal Entries

Requirement A:  Issuance of the bonds on January 31, 2016.

                                                      Debit            Credit

Cash (w)                                    $9,600,000  

Discount on bonds payable     $400,000  

Bonds payable                                               $10,000,000

Working

Cash = 10,000,000*0.96 = $9,600,000  

Discount on bonds payable = 10,000,000*0.04 = $400,000  

Requirement B: The semiannual interest payment and amortization of bond discount on July 31, 2016.

                                                       Debit        Credit

Interest expense                      $390,000  

Cash (w)                                                        $350,000

Discount on bonds payable (w)                    $40,000

Working

Cash = 10,000,000x 0.07 x 6/12 = $350,000

Discount on bonds payable = 400000/(5months*2) = $40,000

Requirement C: The interest accrual and discount amortization on December 31, 2016.

                                                        Debit          Credit

Interest expense                       $325,000

Cash (w)                                                          $291,666.67

Discount on bonds payable (w)                     $33333.33

Working

Cash = 10,000,000x 0.07 x 5months/12months = 291,666.67

Discount on bonds payable = 400,000/(5*2)*5/6 = 33,333.33

n January 1, 1987, three 100 par value bonds with 6% annual coupons will mature at the end of 1, 2, and 3 years, respectively. The redemption value of each bond is 100. You are given that the prices for these bonds on January 1, 1987 are: Maturity Date Price December 31, 1987 101.92 December 31, 1988 102.84 December 31, 1989 105.51 These prices are based on an interest rate of i in 1987, j in 1988, and k in 1989. Determine j.

Answers

Answer:

j = 4.52%

Explanation:

face value = $100, with 6% annual coupons

bond₁ matures in 1 year (December 31, 1987), market price $101.92

bond₂ matures in 2 years (December 31, 1988), market price $102.84

bond₃ matures in 3 years (December 31, 1989), market price $105.51

we must determine the market interest rate (j) for bond₂, and to do this we will use the approximate yield to maturity formula:

YTM = {coupon + [(face value - market price)/n]} / [(face value + market price)/2]

YTM = {6 + [(100 - 102.84)/2]} / [(100 + 102.84)/2] = 4.58 / 101.42 = 0.045158 = 4.52%

Since the bonds are sold at a premium, it means that the coupon rate is higher than the market rate.

Jordan is the marketing head of Hastings Comprehensive Systems. He usually strives for long-term improvement rather than short-term profit, regardless of the economic environment. In the context of Deming's 14 points of quality, this is an example of

Answers

Answer:

Create constancy of purpose

Explanation:

Deming 14 points of quality are recommended management strategy to transform business effectiveness.

Deming postulated that by increasing quality one is able to reduce cost and increase efficiency of a business.

The first of his 14 points is to create a constancy of purpose. This is achieved by striving for long-term improvement rather than short-term profit, as is done by Jordan in the given scenario.

The 14 points of Deming are given below:

Create a constancy of purpose

Adopt the new philosophy

Stop depending on inspections

Using a single supplier for one item

Improve constantly and forever

Use training on the job

Implement leadership

Eliminate fear

Breakdown barriers between departments

Get rid of unclear slogans

Eliminate management by objectives

Remove barriers to pride of workmanship

Implement education and self improvement

Make transformation everyone's job

An exchange-rate policy in which the government usually allows the exchange rate to be set by the market, but sometimes intervenes is called a __________________ exchange rate system.

Answers

Answer: Managed Float

Explanation:

Also called "Dirty Float", the Managed float is an exchange rate system that allows for the currency of a country to be set by the forces of demand and supply in the market.

However, unlike in a clean float,  the Central bank will occasionally intervene in the market to influence the how fast the currency is changing value or to control the direction it is going.

This is usually done to protect the domestic economy from sudden shocks in the global economy.

erekes Manufacturing Corporation has prepared the following overhead budget for next month. Activity level 3,200 machine-hours Variable overhead costs: Supplies $ 16,640 Indirect labor 29,120 Fixed overhead costs: Supervision 15,400 Utilities 6,600 Depreciation 7,600 Total overhead cost $ 75,360 The company's variable overhead costs are driven by machine-hours. What would be the total budgeted overhead cost for next month if the activity level is 3,100 machine-hours rather than 3,200 machine-hours

Answers

Answer:

Variable overhead= $44,330

Fixed overhead= $29,600

Total overhead= $73,930

Explanation:

Giving the following information:

Total variable overhead= $45,760

Total fixed overhead= $29,600

Total overhead cost= $75,360

First, we need to calculate the  variable predetermined overhead rate:

Variable predetermined overhead rate= 45,760/3,200= $14.3 per machine hour

Now, for 3,100 hours:

Variable overhead= 14.3*3,100= $44,330

Fixed overhead= $29,600

Total overhead= $73,930

Read Eye on Fiscal Stimulus. How big was the fiscal stimulus package of​ 2008-2009, how many jobs was it expected to​ create, and how large was the multiplier implied by that​ expectation? Did the stimulus​ work?

Answers

Answer:

1. $787 billion

2. 650,000; 1.6

3. did not​ meet; the multiplier was much smaller than 1.6

Explanation:

The fiscal stimulus package of 2008-2009 was​ $787 billion. This is because, the United States government wanted to increase spending in order to have sufficient economic growth. Thus, the fiscal stimulus was expected to create​ 650,000 JOBS, in which the multiplier implied by that expectation is​ 1.6.

However, the stimulus​ did fiscal stimulus did not work, as it DID NOT MEET the expectations of the Obama administration, simply because​ "the multiplier was much smaller than 1.6"

In Sammy's fast food restaurant, she produces sandwiches, soups, and other items for customers in her town. Which of the following is a fixed input for the production function at Sammy's restaurant?
a) the employees hired to help make the food.
b) the loaves of bread used to make sandwiches.
c) the cans of tomato sauce used to make soups.
d) the dining room where customers eat their meals

Answers

Answer:

d) the dining room where customers eat their meals

Explanation:

In the given situation, since it is mentioned there is a Sammy's fast food restaurant that generates the sandwiches, soups, and other items for customers

So based on the options given, the last option should be considered as a fixed input for the production function as the dining room is a fixed plus non-movable item so the same is to be considered

hence, the correct option is d.

Answer:

D

Explanation:

I would say D because you want to give a good impression on your customers so they want to come back and know that you will take good care of them.

A project with an initial cost of $27,250 is expected to generate cash flows of $6,600, $8,700, $9,100, $8,000, and $7,400 over each of the next five years, respectively. What is the project's payback period?

Answers

Answer:

It will take 4 years and 130 days to recover for the initial investment.

Explanation:

Giving the following information:

A project with an initial cost of $27,250 is expected to generate cash flows of $6,600, $8,700, $9,100, $8,000, and $7,400

The payback period is the time required to recover for the initial investment:

Year 1= 6,600 - 27,250= -20,650

Year 2= 8,700 - 20,650= -11,950

Year 3= 9,100 - 11,950= -2,850

Year 4= 8,000 - 2,850= 5,150

To be more accurate:

(2,850/8,000)*365= 130

It will take 4 years and 130 days to recover for the initial investment.

At the end of the current accounting​ period, account balances were as​ follows: Cash, $26,000​; Accounts​ Receivable, $42,000​; Common​ Stock, $18,000​; Retained​ Earnings, $12,000. Liabilities for the period​ were:

Answers

Answer: Liabilities =$38,000

Explanation: An asset whether tangible or intangible is a source of value to a company examples are Cash, investments, accounts receivables etc

Liabilities are referred to the debts owed to a company or buisness at a particular period eg bank debts, tax owed, wages owed etc.

Equity is the measure of value of a company"s asset eg  Common stock, retained earnings, , preferred stock etc.

The three above are related using the equation below

Assets = Liabilities + Equity.

Total Liabilities = Assets - Equity

Total asset = Cash + Account receivables = 26,000+42,000=68,000

Total equity = Common stock + retained earnings = 18,000+12000=30,000

Total liabilities =Total asset -total equity

= 68,000-30,000

= $38,000

When recording journal entries for production costs using a standard cost accounting system, the debit to Work in Process Inventory account is for the ______ amount.

Answers

Answer: Actual amount

Explanation:

Standard Costing deviates from traditional accounting in that it is not based on historical costs of a good. In standard cost accounting, the actual costs are put in place of standard costs and then the variance between the two will be recorded and used for analysis.

The debit to the Work in Process Inventory account under a standard cost accounting system will be the actual amount.

Choose three organizations that you believe have had the greatest impact on the current state of safety and health programs in the United States. Summarize the purpose of each organization, and discuss how you believe you can use these organizations to improve your ability to perform your duties as a safety and health professional.

Answers

The correct answer to this open question is the following.

The three organizations would be OSHA, NIOSH, and NACOSH.

OSHA stands for Occupational Safety and Health Administration. It tries to ensure that the workers labor under the proper safety and health conditions in their workplace.

NIOSH stands for the National Instituto for Occupational Safety and Health. This organization basically is dedicated to researching to know the working conditions of workers in America and make recommendations.

NACOSH stands for the National Advisory Committee on Occupational Safety and Health. It functions as an adviser or counselor to the Department of Labor on safety and security issues.

These three can definitely be used to improve my ability to perform my duties as a safety and health professional in that they include a series of recommendations, programs, and educational tips to be applied in the workplace and diminish the possibility of accidents or how to react in case of one.

You have an annuity which pays $1,200 every two years. The first payment is two years from now and the last payment is ten years from now. You can trade that annuity for another annuity of equivalent present value, which pays $180 per quarter starting today. The interest rate for both annuities is 4% per annum convertible quarterly. If you took the second annuity, how many quarterly payments would you receive? The last payment may be less than $180 but not more than $180.

Answers

Answer:

31 payments

Explanation:

the present value of the first annuity is:

$1,200 / (1 + 1%)⁸ + $1,200 / (1 + 1%)¹⁶ + $1,200 / (1 + 1%)²⁴ + $1,200 / (1 + 1%)³² + $1,200 / (1 + 1%)⁴⁰ = $1,108.18 + $1,023.39 + $945.08 + $872.76 + $805.98 = $4,755.39

to determine the length of the second annuity:

PV = annuity payment x annuity factor

annuity factor = PV / annuity payment = $4,755.39 / $180 = 26.4188333

using an annuity table we must look for a present value annuity factor that corresponds to 1% interest rate and is close to 26.4188333

the annuity factor is between 30 and 31 payments. Since the final payment has to be less or equal to $180, we have to choose 31 payments.

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