Pension plans are a type of retirement plan in which the employee and employer make contributions. These contributions are invested and to be received upon retirement. In most all cases pension plans are tax exempt. The two types of pension plans are defined benefit plans and defined contribution plans. A defined benefit plan guarantees an amount upon retirement no matter how the investment performed. A defined contribution plan is not a guaranteed amount and heavily depends on the investment performance.
Answer:
26.67
Explanation:
Processing Time = 2 sec + 3 sec + 2 min + 10 sec
2 minutes = 2 x 60seconds = 120
Processing time = 120 + 2+ 3 + 10
= 135 sec
Process Capacity
= 1/135 x 60 (sec/min)
= 0.007407 x 60
= 0.44444
0.44444 x 60 (min/hr)
= 26.67
Answer:
The answer is monopoly.
Explanation:
Monopoly is a market type where there is only one producer that is capable of manufacturing a certain product. In this type of market, the producer is capable of producing the smallest amount of products and setting the price that the consumers should pay to purchase the product. The former is possible mainly because the company is capable of knowing how many products do they need to manufacture to achieve the target profit – their sales projection tends to be more accurate than other companies that operate in a different market type.
The type of overhead costing system that would be the best fit for Lunker is: Traditional costing system using design hours as the basis for allocation.
<h3>What is the Traditional Costing System?</h3>
The traditional costing system is a method applied in accounting that aims at determining the cost of production. One driver is assigned as the basis of allocation.
In the case of Lunker Lures above, the driver that is used as the basis of allocation should be design hours.
Learn more about the Traditional Costing System here:
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