Due to changes in production, Hanson steel gave each employee 75 percent of the cost savings. Hanson steel uses a <u>gainsharing </u>compensation plan.
A compensation plan refers to the practices, methods, and intentional approach that's used by an organization in maintaining financial interests and developing, retaining, attracting, and rewarding employees in an industry.
It should be noted that the gainsharing compensation plan refers to a compensation plan that is used to increase profitability as employees share in the company's gain. Since the workers share 75% of the cost savings, this is a gain-sharing compensation plan.
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Answer:
Consider the possible advantages and drawbacks of a decision.
Explanation:
In Financial accounting, costing is the measurement of the cost of production of goods and services by assessing the fixed costs and variable costs associated with each step of production.
Cost-benefit analysis is also known as the break even analysis, it is an important tool in predicting the volume of activity, the costs to be incurred, the sales to be made, and the profit to be earned is. It is used to determine how changes in differing levels of activities such as costs and volume affect a company's operating income and net income.
Generally, to use the cost-benefit analysis, financial experts usually make some assumptions and these are;
1. Sales price per unit product is kept constant.
2. Variable costs per unit product are kept constant and the total fixed costs of production are kept constant i.e costs can be divided into fixed and variable components.
3. All the units produced are sold i.e there is no change in inventory quantities during the period.
5. The costs accrued are as a result of change in business activities.
6. A company selling more than a product should simply sell in the same mix i.e the sales mix is constant.
Hence, a business performs a cost benefit analysis when it consider the possible advantages and drawbacks of a decision i.e whether or not it would bring value to the company or create a significant level of impact on the business.
Answer:
Demand for home repair and building supply is INCOME ELASTIC
Explanation:
One reason why many ethical home repair and building supply businesses continue to charge pre-hurricane prices to their customers, even though due to the huge increase in demand they could charge much more. These firms probably recognize that demand for home repair and building supply is INCOME ELASTIC.
Although there was no direct fall in income however the loss of property means a negative impact on already earned income. Hence charging higher prices because of higher demand will be a misunderstanding of the income elasticity of demand.
Answer:
to enroll in a 401k and investing in the stock market.
Explanation:
According to my research on investment strategies, I can say that based on the information provided within the question their best options to accomplish their goal would be to enroll in a 401k and investing in the stock market. The 401K is a retirement fund that grows over years and the stock market also provides a decent ROI for your money, especially stocks like the S&P 500 which are the safest options and grow steadily over years.
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Answer:
Both unethical collaboration and plagiarism
Explanation:
Unethical collaboration -
It refers to the practice of sharing common answers or words , is referred to as unethical collaboration .
For example , students copying the same answer is an example of unethical collaboration .
Plagiarism -
It refers to the method of copying some other person's work completely , without the legal consult of the person , is referred to as the practice of plagiarism .
Hence , from the given scenario of the question ,
The correct answer is - Both unethical collaboration and plagiarism .
