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3 years ago

What is the difference between a closed shop and a lockout

Business

1 answer:

pentagon [3]3 years ago

8 0

Answer:

A closed shop refers to business which employs union workers alone, whereas in case of a lockout, such a business does not permit employment of union workers.

Lockout serves as a mean to curb labor union demands. In lockouts, the owners of such businesses lock out or block the entry/employment of union workers.

In case of a closed shop, all the employees represent members of labor union. The two concepts represent exactly opposite scenarios.

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Concord Corporation uses the percentage-of-receivables basis to record bad debt expense and concludes that 4% of accounts receiv

brilliants [131]

Explanation:

The journal entries are shown below:

a. Bad debt expense A/c Dr $13,931

To Allowance for doubtful debts $13,931

(Being bad debt expense is recorded)

It is computed below:

= $421,300 × 4% - $2,921

= $13,931

b. a. Bad debt expense A/c Dr $17,722

To Allowance for doubtful debts $17,722

(Being bad debt expense is recorded)

It is computed below:

= $421,300 × 4% + $870

= $17,722

5 0

3 years ago

Ploeger Corporation has provided the following contribution format income statement. Assume that the following information is wi

Crazy boy [7]

Answer:

Break-even point (dollars)= $234,000

Explanation:

Giving the following information:

Sales (4,000 units) $ 240,000

Variable expenses 156,000

Fixed expenses 81,900

To calculate the break-even point in dollars, first, we need to determine the selling price and unitary variable cost:

Selling price= 240,000/4,000= $60

Unitary variable cost= 156,000/4,000= $39

Now, we can calculate the break-even point:

Break-even point (dollars)= fixed costs/ contribution margin ratio

Break-even point (dollars)= 81,900/ [(60 - 39) / 60]= $234,000

8 0

3 years ago

A company had the following purchases during its first year of operations: Purchases January: 18 units at $128 February: 28 unit

Archy [21]

Answer:

$8,584

Explanation:

Cost of ending inventory can be calculated by multiplying the remaining units of the given month by their purchase cost in the following month

DATA

Total remaining units n ending inventory = 58 units

10 from January at $128

12 from February at $138

14 from May at $148

12 from September at $158

10 from November at $168

Calculation

January = 10 x $128 = $1,280

February = 12 x $138 = $1,656

May = 14 x $148 = $2,072

September = 12 x $158 = $1,896

November = 10 x $168 = $1,680

Cost of ending inventory = $8,584

7 0

3 years ago

A fall in the value of the dollar againstother currencies makes U.S. final goods and services cheaper toforeigners even though t

Mars2501 [29]

Answer: I am right, the increased demand represents a rightward shift of the aggregate demand curve.

Explanation:

The increase in aggregate demand by foreigners occurred as a result of a fall in the value of the US dollars and aggreagrate price level stayed the same. Therefore, the change in aggregate demand didn't occur as a result of a change in price.

If agregrate demand changed as a result of a change in the aggregate price levels, there would be a change in quantity demanded and a movement along the demand curve.

It's only a change in price that result results in a movement along the aggregate demand curve.

Other factors that leads to a change in demand either shifts the aggregate demand curve to the left or to the right.

Therefore, an increase in aggregate demand as a result of the fall in value of US dollars causes the aggregate demand curve to shift to the right.

The shift in the aggregate demand curve to the right shows that demand has increased but aggregate price hasn't changed.

5 0

3 years ago

In the United States the degree of individual income mobility (that is, the degree to which people move from higher to lower or

IgorLugansk [536]

Answer:

The correct answer is letter "B": flexible in both directions.

Explanation:

The ability that an individual, family or group of people develop to improve or worsen their economic condition is called economic mobility. It is measured in income terms and particularly, in the U.S. is flexible in both directions since, according to studies, Americans have proved to be able to get better living conditions but some of them have gone from good economic situations to poverty.

7 0

3 years ago