A public school teacher most likely to have a pension plan.
<h3>What does a pension plan mean?</h3>
A pension plan is a type of employee benefits program created or maintained by an employer, an employee group (such a union), or both that offers retirement income or postpones income until the end of the covered employment period or beyond.
An employer must contribute to a fund that is set aside for a worker's future benefit in order to participate in a pension plan. When the worker retires, the earnings from the investments will provide income for the worker. The pool of cash is invested on the employee's behalf. In the U.S. private sector, traditional pension plans are getting harder to find.
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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
Answer:
b. rise in demand results in an increase in price
Explanation:
Price elasticity of demand in economics measures the degree of the responsiveness of the quantity demanded of a good or service to increase in its price.
Therefore reverse elasticity will be the measure of the degree of responsiveness of price to changes in quantity demanded.
Therefore in the options given in the scenario, an increase in price resulting from a rise in demand is most likely the appropriate definition of a reverse elasticity
Answer:
Total direct labor variance= $960 favorable
Explanation:
Giving the following information:
We will separate the direct labor cost variance in rate and quantity variance. <u>To calculate the direct labor rate and quantity variance, we need to use the following formulas:</u>
Direct labor time (efficiency) variance= (Standard Quantity - Actual Quantity)*standard rate
Direct labor time (efficiency) variance= (30*6 - 130)*14
Direct labor time (efficiency) variance= $700 favorable
Direct labor rate variance= (Standard Rate - Actual Rate)*Actual Quantity
Direct labor rate variance= (14 - 12)*130
Direct labor rate variance= $260 favorable
Actual rate= 1,560/130= $12
Total direct labor variance= 700 + 260
Total direct labor variance= $960 favorable
Answer:
open-book management or it can also be called a boundaryless organization.
Explanation:
Open-book management
This is simply the act of sharing with employees at all levels of an organization some vital information that is somehow or previously meant for too management staff only. It also involves opening a company's financial statements to all employees and giving them the education that will enable them to understand how the company makes money and how their actions affect its success and bottom line.
Boundaryless organization
This is simply known as a form of organization structure in which there are no barriers to information flow. Boundaryless designs include barrier-free, modular and virtual organizations. An organization without barriers has permeable internal and external boundaries and requires higher level of trust and shared interests, a shift in philosophy from executive development to organizational development, greater use of teams etc.
