Answer: See attachment and explanation.
Explanation:
a. Determine the components of pension expense that the company would recognize in 2017.
Service cost = $52,000
Add: Interest on projected benefit obligation = $380,000 × 10% = $38,000
Less: Actual return on plan asset = ($11000)
Less: Unexpected loss = 200,000 × 10% - 11,000 = ($9000)
Ammortization of prior service cost = $15000
Pension expense = $85,000
b. The journal entry to record the pension expense and the company’s funding of the pension plan in 2017 has been attached.
c. The amount of the 2017 increase/decrease in gains or losses and the amount to be amortized in 2017 and 2018 has been attached.
d. The pension amounts reported in the financial statement as of December 31, 2017 will be $85,000.
Answer:
12. 21 % ; 41.98 % and 45.80 % as below
Explanation:
Total cost for the stadium is
labor $ $16,000
leasing the parking fee $55,000
Busing to and from $60,000
Total cost $131,000
Percentage per item
1. labor = 16000/131000 x 100
=12.21 percent
2.leasing parking space= 55000/131000 x 100
=41. 98 percent
3.Parking space= 60,000/131000x100
=45.80 percent
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Answer:
related to the demand for the product or service labor is producing.
Explanation:
Factors of production can be defined as the fundamental building blocks used by individuals or business firms for the manufacturing of finished goods and services in order to meet the unending needs and requirements of their customers.
In Economics, there are four (4) main factors of production and these are;
I. Land.
II. Labor (working).
III. Capital resources.
IV. Entrepreneurship.
Labor refers to the human capital or workers who are saddled with the responsibility of overseeing and managing all the aspects of production.
Generally, when these aforementioned factors of production are combined effectively and efficiently, they can be used for the manufacturing or production of goods and services to meet the unending requirements or needs of the consumers.
Typically, when economists say that the demand for labor is a derived demand, what they do really mean is that, this demand for labor is related to the demand by the consumers for the product or service labor is producing.
