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Soloha48 [4]
2 years ago
8

Pickwick Production offered employees a defined-benefit retirement plan, in which retirees received benefits calculated on the b

asis of their age, earnings, and years of service. But the company didn't keep up with technology, and its earnings fell. When the stock market dipped, the company could no longer afford to keep paying for its retirement benefits. What protection will the retirees have in this situation
Business
1 answer:
julsineya [31]2 years ago
4 0

Even though the company is no longer able to pay the retirees, they are still protected because <u>The </u><u>Pension Benefit Guarantee Corporation</u><u> will pay a </u><u>basic benefit. </u>

<u />

The Pension Benefit Guarantee Corporation:

  • Was created to protect the pensions of millions of Americans
  • Provides a basic benefit to pensioners who need pension payments when their companies no longer pay them

The basic benefit is a percentage of the benefits the retirees receive from their normal plan so it is not much. Retirees will often have to supplement this option.

In conclusion, The <u>Pension Benefit Guarantee Corporation </u>will pay out something to the retirees.

<em>Find out more at brainly.com/question/7331178. </em>

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Corporations issue only private stocks.<br> a. True<br> b. False
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Hill Manufacturing uses departmental cost driver rates to apply manufacturing overhead costs to products. Manufacturing overhead
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Answer:

a. Manufacturing overhead allocation rate for each department.

<u>Machining Department</u>

Overhead allocation rate =  $2.50

<u>Assembly Department</u>

Overhead allocation rate = $4.00

b.  total cost of Job #846 is $6,505

Explanation:

a. Manufacturing overhead allocation rate for each department.

<u>Machining Department</u>

Overhead allocation rate = Overhead / Machine hours

                                          = $250,000/ 100,000

                                          = $2.50

<u>Assembly Department</u>

Overhead allocation rate = Overhead / direct labor-hours

                                          = $360,000/ 90,000

                                          = $4.00

b.  total cost of Job #846

Direct material cost :

Machining                               $2,700

Assembly                                 $1,600

Direct labor cost    :

Machining                                $ 400

Assembly                                 $ 900

Overhead Costs   :

Machining ( $2.50 × 170)        $ 425

Assembly ( $4.00 × 120)         $ 480

Total Cost                               $6,505

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