Multiple Choice

Broadbanding eliminates layers in pay grades requiring organizations to find other ways to reward employees. Group startsTrue or

AlekseyPX

Broad banding eliminates layers in pay grades requiring organizations to find other ways to reward employees. False

A technique called "broad banding" replaces a large number of small wage ranges with a smaller number of larger compensation ranges when evaluating and building a job grading structure. Establishing what is necessary to pay for a certain position with help from broad banding.
Payroll departments employ broadband for human resource management. When deciding how much to pay specific roles and the incumbents in those positions, a job grading structure known as "broadcasting" lies somewhere between using spot salaries and several job grades. Broad banding does provide some broad job classifications to the business that uses it, but it does not have as many discrete job grades as do traditional compensation systems.

Thus this is the answer.

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6 0

1 year ago

Nathan and Diana are married and have three married children and seven minor grandchildren. For tax year 2020, what is the maxim

Luba_88 [7]

Answer:

Maximum amount that can be given to family (including the sons- and daughters-in-law) without using unified transfer tax credit is $390,000.

Explanation:

Given the data in the question;

Nathan and Diana are married and they have 3 married children, meaning Nathan and Diana also have 3 daughters/sons in law married to their children. In addition, they have 7 minor grand children.

Number of donees will be ⇒ 3 + 3 + 7 = 13

Now, we know that; The annual gift tax exclusion for 2019-2020 is $15,000 per donee or individual for every tax payer while that of married couple is $30,000.

Meaning Nathan and Diana can give $30,000as a gift to each of their family members without using any of their unified transfer tax credit.

Hence,

Maximum amount that can be given to family (including the sons- and daughters-in-law) without using unified transfer tax credit will be;

⇒ 13 × $30,000

= $390,000.

6 0

2 years ago

International Imports is a merchandising Firm. Last year they reported sales of $674,500 and cost of goods sold of $404,700. The

dimaraw [331]

Answer:

The total contribution margin for the firm is: $209,095

Explanation:

The contribution margin is calculated by using following formula:

Contribution margin = Total sales – Total variable costs

In International Imports,

Total sales = $674,500

Total variable costs = cost of goods sold + total variable selling and administrative expense = $404,700 + $60,705 = $465,405

Contribution margin = $674,500 - $465,405 = $209,095

7 0

3 years ago

Barry has just become eligible for his employer-sponsored retirement plan. Barry is 40 and plans to retire at 65. Barry calcula

snow_lady [41]

Answer:

$713,449.15

Explanation:

Barry’s total personal amount to invest = Initial amount + additional amount

= $4,500 + 1,140

Barry’s total personal amount to invest = $5,640

Since Barry’s employer would match this amount, total amount to invest will be;

Total amount to invest for Barry = $5,640 + $5,640 = $11,280

The new amount Barry will have at retirement can be calculated using future value of an annuity formula stated as follows:

FV = M × {[(1 + r)^n - 1] ÷ r} ................................. (1)

Where,

FV = Future value of the amount at the retirement

M = Total amount to contribute yearly by Barry and his employer = $11,280

r = Rate of return = 7% = 0.07

n = number of periods = 65 – 40 = 25 years

Substituting the values for into equation (1), we have:

FV = $11,280 × {[(1 + 0.07)^25 - 1] ÷ 0.07}

= $11,280 × {[(1.07)^25 - 1] ÷ 0.07}

= $11,280 × {[5.42743264012289 - 1] ÷ 0.07}

= $11,280 × {4.42743264012289 ÷ 0.07}

= $11,280 × 63.2490377160413

FV = $713,449.15

Therefore, Barry would have $713,449.15 at retirement if he could invest an additional $1,140 per year that his employer would match.

7 0

2 years ago

On january 1, 2016, knapp corporation acquired machinery at a cost of $1,250,000. knapp adopted the double-declining balance met

Annette [7]

Cost on January 1 2016 = $1,250,000
Life = 10 years

Therefore,
Double-declining depreciation rate = 2*(1,250,000/10)/1,250,000 = 2*0.1 = 2*10% = 20%
Book value at end of 2016 = 1,250,000 - (1,250,000*20/100) = $1,000,000
Book value at end of 2017 = 1,000,000 - (1,000,000*20/100) = $800,000
Book value at end of 2018 = 800,000 - (800,000*20/100) = $640,000

Changing to straight line depreciation:
Life remaining = 7 years
Book value = $640,000

Depreciation expense per year = 640,000/7 = $91,428.57

Therefore, depreciation expense for 2019 = $91,428.57

5 0

2 years ago