Answer:
According to Orlando:_____.
(a) workers have obligations to, but are owed consideration by, their employers.
Explanation:
Workers are employed by their employers to carry out their obligations as per instruction. They owe the duty of reasonable care to their employers. They are supposed to be honest in their dealings with their employers. Workers are also required to take safety and health measures to protect themselves and others from harm at the workplace. For all these obligations, the employers of labor must pay adequate consideration to their workers and ensure their safety at work.
Answer: A land contract.
Explanation:
A land contract is a method of property sales where, the seller of the property, finances the sales of his property to the buyer, but keeps possession of the property until the buyer has completed payments on the property's purchase.
Land contract involves the buyer paying by installments for the property until full payment is made.
Answer:
Debit: Salaries and wages expense $25,056
Credit: Salaries and wages payable $25,056
<em>(To recognize the salaries and wages payable at year-end)</em>
Explanation:
Merando Industries employs a 5-day workweek - this means $41,760 normal weekly wages can be divided by 5 to arrive at the daily workweek wages, which is $41,760 / 5 = $8,352.
If the fiscal year-end is a Wednesday, the company has to recognize a salaries and wages payable of $25,056 due to the following:
- the workweek remains 2 weekdays to complete
- the company pays at the completion of the 5-day workweek
- there is no need to recognize the remaining 2 days next year as salaries and wages payable since the employer may not have control over the employees - they may decide the exit the company
So, the amount to be recognized will be $8,352 x 3 = $25,056.
Answer:
$192 will be allocated to the direct labor cost while $8 will be allocated to manufacturing overhead.
Explanation:
Costs relating to idle time are part of the fringe benefits that are related to direct labor and they are parts of the benefits given to workers.
Idle time is the number of time in which workers are idle during the normal working hours or day. Some of the causes of idle time include defective materials, power outage, faulty machine, shortage of raw materials, and among others.
In cost accounting, idle time costs are not included in the direct labor costs but are considered as indirect labor costs. Idle time costs are therefore included in manufacturing overhead cost.
From the question,
Direct labor cost = (Number of hours worked by Robert – Idle hours) × hourly rate
Direct labor cost = (50 - 2) × $4
= 48 × $4
= $192
Idle time cost = Idle time × hourly rate
= 2 × $4
= $8
Total cost = Direct labor cost + Idle time cost
= $192 + $8
= $200
Since idle time cost is considered as indirect labor cost and to be included in manufacturing overhead cost, $192 will be allocated to the direct labor cost while $8 will be allocated to manufacturing overhead.
All the best.
Answer:
The question lacks answers:
<em>a. overcoming reservations
</em>
<em>b. generating and qualifying leads
</em>
<em>c. the presentation
</em>
<em>d. the preapproach
</em>
<em>e. follow-up</em>
The answer is: a. overcoming reservations
The answer can be formulated as - handling objections
Explanation:
The sales presentation process usually follows the sequence:
<em>generating and qualifying leads -> the preapproach -> the presentation -> overcoming reservations -> closing -> follow-up</em>
The part of overcoming reservations is one of the most critical parts of the sales process, as it includes the addressing of the potential concerns a lead may have. This is the part when most salespeople end the whole process, as they are mostly not prepared to argument their sales pitch.
In this example, Patrick is confident and persistent in his efforts to emphasize the benefits of the system, even though the client expressed some concern about it. Patrick successfully overcame the client's reservations by explaining the benefits further.
