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podryga [215]
3 years ago
12

All else​ equal, if job turnover has people leaving jobs and finding new jobs in the same​ industry, this will A. increase the d

emand for labor and the supply of labor. B. increase the demand for labor and decrease the supply of labor. C. decrease the supply of​ labor, but not change the demand for labor. D. not change demand or supply in the labor market.
Business
1 answer:
Salsk061 [2.6K]3 years ago
3 0

Answer:

D. not change demand or supply in the labor market.

Explanation:

As people is finding new jobs in the same industry, it can be said that there is no evident change in the demand of labor neither in the supply of labor.

Job turnover can be high or low, not necessarily related to a variation in demand or jobs offers.

This turnover may be produced by a increase in the demand of labor, but it is being satisfied by people in the same industry.

You might be interested in
Premium Watches, Inc. produces and sells children’s smart watches. The company started the year 2019 with 1,500 watches and prod
borishaifa [10]

Answer:

(1)Cost of Good Manufactured $191,830(2)) Net income $21,547.25 (3) cost of producing one watch $2.45

Explanation:

The question is not complete, here is the missing part of the question

Premium watches inc

Income statements As at December 31st, 2018

Sales revenue (67,500 watches) 269,500

Unearned rent revenue. 4,000

Gain on sale of investment. 1,200

Royalty revenue. 500

Interest payable. 1,500

-----------

Total Revenue. 276,700

Less operating expenses

Indirect manufacturing labour cost 7,200

Utilities 9,200

Direct manufacturing labour cost 47,000

Factory equipment 50,000

Direct materials purchased 95,000

Insurance expense 2,500

Rent Expense 27,000

Interest expense 300

Selling expense 34,700

Administrative expense 30,900

Research & development expense 4,000

Short term investment 8,000

Dividend paid 500

Restructuring cost 6,000

Total operating expenses. 327,300

------------

Net operating loss. ($50,600)

(a) 65% of utilities & 70% of insurance expense related to factory operations. Apply the remaining amount equally to selling expense & Administrative expense

(b) 90% of the rent expense is associated with factory operations. Allocate the remaining 10% equally to selling expense and Administrative expense

(c) Factory equipment is estimated to have a useful life of 5 years with a $5,000 salvage value remaining at the end of its useful life. The company uses the straight line method of depreciation.

(d) inventory balances at the beginning and ending of the period were

January 2018. Dec 31,2018

Direct materials. 4,600. 7,000

Work in process. 9,000. 12,000

Finished goods. 3,750. ?

These amount were not taken into account when the statement were prepared

(e) The company tax rate is 21%

The president is dissapointed with the result of operations and has asked you to review the income statement and make a recommendation as to whether the company should look for a buyer for its assets Required

(1) prepare a schedule cost of good manufactured for the year ended December 31, 2018

(2) prepare a corrected multiple -step income statement for the year ended 31st December, 2018

(3) Calculate the cost of producing one watch if the company produced 110,000 watches in 2018 (round your answer to 2 decimal places )

Here is the solution

Schedule cost of Goods Manufactured for the year ended December 31st, 2018

Beginning work in process inventory

Direct materials used

Add: Beginning Direct materials 4,600

Add: purchases of Direct materials 95,000

Add: Direct Labour. 47,000

------------

Prime Cost. 146,600

Add: Manufacturing overhead

Indirect material labour cost 7,200

Utilities. 5,980

Insurance. 1,750

Rent Expense. 24,300

Depreciation of factory equipment 9,000

Add: Beginning work in process 9,000

Less: Ending work in process. 12,000

-----------

45,230

------------

Cost of Good Manufactured. 191,830

---------------

(2) corrected Multiple - step income statement for the year ended December 31st, 2018

Sales. 269,500

Less: Cost of good sold 195,580

----------

Gross Margin. 73,920

Operating Expenses

Utilities 3,220

Insurance 750

Selling Expense 12,145

Administrative expense 9,270

Rent allocated to selling expense 3,470

Rent allocated to Administrative expense 3,090

Research &Development expense 5,000

Prepaid insurance expense 4,000

Restructuring cost 6,000

-----------------

46,945

------------

Operating income. 26975

Interest expense. 300

------------

Income before taxes. 27,275

Income taxes. 5,727.75

--------------

Net income. 21,547.25

------------------

(3) To calculate the cost of producing one watch if the company produced 110,000 watches in 2018

Sales / Numbers of watches produced

= 269,500 / 110,000

= $2,45

Workings of schedule of cost of Goods Manufactured

Utilities =0.65 × 9,200 = 5,980

Insurance = 0.7 × 2,500 = 1,750

Rent Expense = 0.9 × 27,000 = 24,300

Factory equipment depreciation = Cost - Salvage value / Number of years

= 50,000 - 5,000 / 5

= 45,000 /5

= 9,000

Workings of cost of Goods sold

Cost of good sold = Beginning finished good inventory + Cost of Good Manufactured - Ending finished good inventory

= 3,750 + 191,830

= 195,580

Workings of income statement

Utilities = 0.35 × 9,200 = 3,220

Insurance= 0.3 × 2,500 = 750

Selling Expense = 0.35 × 34,700 = 12,145

Administrative expense = 0.3 × 30,900 = 9,270

10% of rent expense allocated to selling & Administrative

Selling = 0.1 × 34,700 = 3,470

Administrative = 0.1 × 30,900 = 3,090

Income taxes = 0.21 × 27,275 = 5,727.75

4 0
3 years ago
In January, 2021, Summit Department Store sells a gift card for $50 and receives cash. In February, 2021, the customer comes bac
PtichkaEL [24]

Answer:

Feb. 2021

  Dr Gift Card Liability         $20

     Cr Gift Card Revenue    $20

(to record revenue arisen from oustanding Gift Card Liability)

Explanation:

Under GAAP, the accounting for Gift Card is quite simple. When the gift card are sold, Gift Card Issuer receives Cash (Debit Cash) and assume the Liability (Cr Liability) to anyone owning the gift card for later providing of goods/services priced at the Cash amount that had been received.

It is not until Gift Card is redeemed that Gift Card Issuer is allowed to record revenue (Credit Revenue) as it is an actual point of time when the provide of goods/services takes place. Also at the same time, once the goods/services are provided, they Liability assumed earlier in time through Gift Card issuance will be discharged to the extent of the price of goods/services provided.

7 0
3 years ago
The main elements of market structure are _____. perfect competition, monopolistic competition, monopoly, and oligopoly perfect
Bess [88]

Answer:

First one:

perfect competition, monopolistic competition, monopoly, and oligopoly

Explanation:

Hope this helps!!:)

6 0
2 years ago
The potential advantages of traditional mail surveys are quick response and lower cost than online surveys, but this advantage h
AURORKA [14]

Answer:False

Explanation:

The potential advantage of online surveys are quick response rate and low cost than traditional surveys. This statement contradicts the above stamement.

Online surveys has faster medium to reach the target audience,cost-efficient.These are characteristics of online survey not traditional survey

So therefore it is false

8 0
3 years ago
You have found an asset with 12.60 percent arithmetic average return and a 10.24 percent geometric return. Your observation peri
adoni [48]

Solution:

In years      Best estimate of return            Working note

5                   12.36%              ((5-1)/(40-1)*0.1024)+((40-5)/(40-1)*0.126)

10                   12.06%             ((10-1)/(40-1)*0.1024)+((40-10)/(40-1)*0.126)

20                    11.45%               ((20-1)/(40-1)*0.1024)+((40-20)/(40-1)*0.126)

The formula for the return on assets is calculated by dividing the net income by the total average assets. The profit margin and total asset sales can also be represented as a consequence of this ratio. For the calculation of the total asset return, either formula may be used.

7 0
3 years ago
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