5 things that local business can do to end unemployment

What will happen to the firms equilibrium wage rate when the supply of labour decrease from 25 to 15? Explain with the help of d

Tpy6a [65]

Answer:

Wage rate = $960

Explanation:

Supply of labor is the number of hours workers are willing to work at a given real wage rate. When wage rate increases, supply of labor also increases because more people are encouraged as now they can obtain a higher income. When wage rate decreases, labor supply also decreases.

<em><u>View diagram</u></em>

In this case, however, there has been a decrease in supply, causing the supply curve to shift from S to S1. This can be due to many reasons such as migration, increase in minimum working age or increase in interest in education causing more people to study. When the supply of labor falls, there are less people available for work. Thus, demand exceeds supply, causing a shortage. Hence, the pressure causes price, i.e. wage rate to increase. To determine by how much the increase is, cross-multiplication can be used:

At 25 laborers, wage rate is $600 (25 = 600)

At 15 workers, wage rate is X (15 = X)

We now substitute for X, which is the amount by which wage rate will increase.

25 / 600 = 15 / X

Thus, 25X = 9000 (600 x 15)

9000 / 25 = X

X = 360.

Hence, wage rate at 15 laborers is 600 + 360 = $960

3 0

3 years ago

Heims is an automobile manufacturing company. When the sales team in the company gets an order, the information reaches all asso

Hoochie [10]

Answer:

Enterprise resource planning system.

Explanation:

Heims seems to be using an enterprise resource planning (ERP) system to let relevant department members access to order status and fulfillment. It is not a customer relationship management (CRM) system, since this system is primarily used to manage the current customer relationship and to generate new sales lead. A CRM system is usually used by the sales team only, while ERPs are inter-departmental. It is most definitely not a risk and threat or environment and disaster management system, since the scenario occurring in Heims has do not require these systems.

5 0

3 years ago

The Polaris Company uses a job-order costing system. The following transactions occurred in October: Raw materials purchased on

Gennadij [26K]

Answer:

1. Prepare journal entries to record the transactions given above

2. Prepare T-accounts for Manufacturing Overhead and Work in Process.

Explanation:

1

Debit Raw Material 210.000

Credit Account Payable 210.000

raw materials purchased on account, $210,000

2

Debit Work in process 178.000

Debit manufacturing overhead 12.000

Credit Raw material 190.000

Raw materials used in production, $190,000 ($178,000 direct materials and $12,000 indirect materials)

3

Debit Work in process 90000

Debit manufacturing overhead 110000

Credit Sales ans wages salaries 200000

Accrued direct labor cost of $90,000 and indirect labor cost of $110,000.

4

Debit manufacturing overhead 40000

Credit Acummulate depreciation 40000

Depreciation recorded on factory equipment, $40,000.

5

Debit manufacturing overhead 70000

Credit Account Payable 70000

Other manufacturing overhead costs accrued during October, $70,000.

6

Debit Work in process 240000

Credit manufacturing overhead 240000

The company applies manufacturing overhead cost to production using a predetermined rate of $8 per machine-hour. A total of 30,000 machine-hours were used in October

7

Debit Finished goods 520000

Credit Work in process 520000

Jobs costing $520,000 according to their job cost sheets were completed during October and transferred to Finished Goods

8

Debit Cost of goods 480000

Credit Finished Goods 480000

Jobs that had cost $480,000 to complete according to their job cost sheets were shipped to customers during the month.

9

Debit Account receivable 600000

Credit Sales 600000

These jobs were sold on account at 25% above cost.

Manufacturing Overhead

Debit Credit

2 12.000 240000 6

3 110000

4 40000

5 70000

232.000 240.000

Ending Balance 8.000

Work in process

Begining Balance 42000

2 178.000 520000 7

3 90000

6 459000

769.000 520.000

Ending Balance 249.000

6 0

3 years ago

Sharon joined a team that was responsible for boosting sales on last year's electronic models. The team began in January and was

Natalija [7]

Answer:

A. Punctuated equilibrium

Reason:

Definition is a sequence of team development during which not much gets done until the halfway point of a project, after which teams make necessary changes to complete the project on time.

3 0

3 years ago

This is an application which students can fill out every year to see if they qualify for

ratelena [41]

Answer:

FAFSA is the correct answer

8 0

3 years ago