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r-ruslan [8.4K]
3 years ago
15

Alex and J.J. Both apply for two job openings in the same department at a law firm in Chicago. They both interview very well and

the firm decides to give them both a job offer. The offers go out, and the firm offers J.J. A starting salary that is $10,000 lower than Alex's starting salary. Consider the possible explanations as to why the salaries may be different. Match the explanations with the scenarios. NOTE: Not all explanations will be matched with a scenario. Alex went to a higher tier law school. J.J. Is reentering the workforce after two years away. Alex will be working with a notoriously difficult boss. Alex is a man and J.J. Is a woman.
Business
1 answer:
denis23 [38]3 years ago
8 0

Solution :

In the context, it is given Alex and J.J. both are applying for a job openings in a law firm at Chicago. Both of them got the job offer but J.J. got lower salary than Alex. The salaries are different for both J.J and Alex. Some of the possible explanations for the difference in salaries that may be related to some scenarios are :

  • Alex went to higher tier law school  ----  difference in education
  • J.J. is reentering the workforce after two years away  ---  difference in experiences.
  • Alex will be working with a notoriously difficult boss  ---  compensating differentials.
  • Alex is a man and J.J. Is a woman  ---  economic discrimination.

                         

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Answer:

Opportunity cost

Explanation:

The opportunity cost Bob's brother Joe $20,000. Remember, the term Opportunity cost refers to the cost (loss in this context) incurred when one forgoes an alternative best option–holding them in a brokerage account, in place for a less beneficial one.

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3 years ago
Foster Manufacturing uses a job order cost accounting system. On April 1, the company has Work in Process Inventory of $7,600 an
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Answer:

<u>Foster Manufacturing </u>

<u>Journal Entries</u>

<u>Sr. No                       Particulars                       Debit           Credit</u>

1                    Work in Process Job No. 221        1200

                    Work in Process Job No. 222      1700

                   Work in Process Job No. 223       2400

                    Work in Process Job No. 224      2600

         Factory Overhead  Indirect Materials      600

                              Materials Inventory                                  8500

Materials Requisitioned to specific jobs work in process inventory.

2. Direct Labor    Work in Process Job No. 221        1600

     Direct Labor  Work in Process Job No. 222      2200

  Direct Labor    Work in Process Job No. 223       2900

    Direct Labor Work in Process Job No. 224      2800

                                                   Indirect Labor      400

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Direct Labor used for specific jobs.

3.          Work in Process Job No. 221              1120

                    Work in Process Job No. 222      1540

                   Work in Process Job No. 223       2030

                    Work in Process Job No. 224      1960  

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Manufacturing Overheads applied to specific jobs at the rate of 70%.

4.     Finished Goods Inventory          $ 7940

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         Work in Process Job No. 221 Materials                     1200

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Job 221 completed and transferred to finished goods.

                   

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