1answer.
Ask question
Login Signup
Ask question
All categories
  • English
  • Mathematics
  • Social Studies
  • Business
  • History
  • Health
  • Geography
  • Biology
  • Physics
  • Chemistry
  • Computers and Technology
  • Arts
  • World Languages
  • Spanish
  • French
  • German
  • Advanced Placement (AP)
  • SAT
  • Medicine
  • Law
  • Engineering
VikaD [51]
3 years ago
12

Souped Inc., a firm that manufactures ready-to-eat soups, offers incentives based on an employee's performance rating and the em

ployee's compa-ratio. Which payment plan is exemplified in this scenario?A) Piecework planB) Merit payC) Standard hour planD) Differential planE) Skill-based plan
Business
1 answer:
mel-nik [20]3 years ago
5 0

Answer: B -Merit Pay

Explanation: Merit pay is a performance based incentive to employees. It is financial in nature which means that an employee might be given a bonus or a pay rise for an outstanding performance.

Merit pay is a good performance compensation policy which helps to boost employees performance and there by increasing a company's overall goals of profit making.

Merit pay is a very good incentive which gives employees a sense of belonging in an organisation. it helps employees boost their moral as they are sure that their efforts will be well compensated by the organisation.

You might be interested in
Assume the following data for Oshkosh Company before its year-end adjustments:
babunello [35]

Answer:

a. Dr Sales $619,200

Cr Customer Refunds Payable $619,200

b. Dr Estimated Returns Inventory $400,000

Cr Cost of Merchandise Sold $400,000

Explanation:

a. Preparation of the journal entry to record Estimated customer refunds and allowances

Dr Sales $619,200

($51,600,000 × 1.2%)

Cr Customer Refunds Payable $619,200

(To record Estimated customer refunds and allowances )

b. Preparation of the journal entry to Estimated customer returns

Dr Estimated Returns Inventory $400,000

Cr Cost of Merchandise Sold $400,000

(To record Estimated customer returns)

4 0
3 years ago
When it comes to saving money, what is a good rule of thumb?
ELEN [110]
 when  it comes to saving money, the best thing to do is to not spend the money.
4 0
3 years ago
On June 1, Crane Company Ltd. borrows $99,000 from Acme Bank on a 6-month, $99,000, 8% note. The note matures on December 1. Cor
azamat

Answer:

Explanation:

The journal entry is shown below:

On June 1

Cash A/c Dr $99,000

    To Notes payable A/c  $99,000

(Being the amount borrowed is recorded)

For recording this transaction, we debited the cash account and credited the notes payable account so that the correct posting can be done

All other information which is given is not relevant. Hence, ignored it

7 0
3 years ago
Task 2: Record the listed transactions of Nikea Inc. for the first quarter (January to March) in
gavmur [86]

Answer and Explanation:

The journal entries are shown below:

a. Cash Dr $20,000

     To Capital $20,000

(being the issuance of the capital stock is recorded)

b. Rent Dr $5,000

      To cash $5,000

(being the rent paid is recorded)

c. Supplies dr $1,500

       To Account payable $1,500

(being the supplies purchased on account is recorded)

d. Account payable Dr $1,000

     To cash $1,000

(being the amount paid is recorded)

e. Cash Dr $25,000

       To sales commission $25,000

(being the sales commission earned is recorded)

f. Automobile expense $4,500

     To Cash $4,500

(being cash paid is recorded)

g. Office salaries Dr $8,000

      To cash $8,000

(being cash paid is recorded)

h Supplies expense $1,500

    To supplies  $1,500

(being supplies expense is recorded)

g. Dividend payable $1,500

     To Cash $1,500

(being dividend paid is recorded)

3 0
2 years ago
. A firm begins the year with a Book Value of $10 million. During the year it generates $5 million in net profits. It paid $1 mi
Keith_Richards [23]

Answer:

b) $12 million

Explanation:

The new Book Value of the firm at the bigining of next year is $12 million.

In the calulation of Net Pfofit, Interst on loan has already been deducted, so deducting it from the total calculation will be wrong.

hence, only dividend paid will be removed from the addition of the Book Value anf the Net profit.

Closing balance = Opening Book Value + Net Profit - Dividend Paid

Note - The Net Profit is already ne of interest on loan.

Closing balance = $10 + $5 - $3

Closing balance is $12

3 0
3 years ago
Other questions:
  • Does managing your money well mean you cannot have fun with your money
    14·1 answer
  • Annenbaum Corporation uses the weighted-average method in its process costing system. This month, the beginning inventory in the
    8·1 answer
  • Determine how the equilibrium price and equilibrium quantity in the market for coffee changes if the price of tea, a substitute
    9·1 answer
  • How can you know if it’s a good time to start your business A. If you feel excited about it B. There’s never a bad time to start
    7·1 answer
  • Janice wants to sell her townhome, and her neighbor is considering buying it. While waiting to find out if her neighbor is going
    13·1 answer
  • _____ is defined as the collection of private, commercially oriented organizations, ranging in size from one-family proprietorsh
    5·1 answer
  • Dooling Corporation reported balances in the following accounts for the current year: Beginning EndingInventories $600 $300Accou
    12·1 answer
  • Suppose a student graduates from college with a civil engineering degree and is now employed to grade papers,
    5·1 answer
  • 1.) What are the three personal traits that help you most in the business world?
    7·1 answer
  • Reunion BBQ has $4,000,000 of notes payable due on March 11, 2017, which Reunion intends to refinance. On January 5, 2017, Reuni
    7·1 answer
Add answer
Login
Not registered? Fast signup
Signup
Login Signup
Ask question!