Answer: Resources required to fulfil our needs are insufficient
Explanation:
Scarcity in economics is the term used to describe the notion that the needs of a society are infinite but the resources needed to satisfy these needs are finite.
This is why humans have to constantly make a trade-off between resources needed to satisfy a need by picking one alternative course of action that requires a resource over another.
Acts as the governments bank
Maintains currency
Conducts monetary policy
Maintains the payment system
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Answer:
(A) Underapplied (2,300)
(B)
Cost of Goods Sold debit 2,300
Factory Overhead credit 2,300
It increase their COGS by 2,300 Their Gross Profit will decrease by the same amount
Explanation:
(A)
227,550 / 12,300 = 18.5
<u>APPLIED </u><em>ACTUAL HOURS X RATE</em>
11,800 \times 18.5 = 218,300
<u>ACTUAL </u> (221,000)
Underapplied (2,300)
(B)
It increase their COGS by 2,300 Their Gross Profit will decrease by the same amount
Sales - COGS = Gross Profit
Sales - (COGS + 2,300 adjustment) = Gross Profit
Sales - Cogs - 2,300 = Gross Profit
The gross profit decreased 2,300
The Organizational Behavior concept of motivation that speaks to the situation is The Two-Factor Theory by Frederick Herzberg.
<h3>What does Two-Factor Theory propose?</h3>
Frederick Herzberg's Two-Factor theory suggests that in every workplace, there are certain factors that trigger job satisfaction and enhance motivation while there are other factors that create dissatisfaction.
According to him, these factors are mutually exclusive. Sone of the factors in the case study which are similar to the research findings by Herzberg is Salary Structure and intrinsic interest in the work.
Recommendations:
Revision of Salary Structure
The commission structure should be changed. Given that the company has a great and marketable product, it can reduce the overall sales commission then include a base salary for each worker. So that in the periods when there are no sales, they can have still have some money to fall back on.
Non-Financial Benefits
The company should pay attention to non-financial benefits. Some of them are employee recognition, health insurance, etc.
The organization must work to ensure that rapport between employees, horizontally and vertically is achieved.
Learn more about The Two Factor Theory of Motivation at:
brainly.com/question/9310878