Explain the role of an Equality Officer in industrial relations

The gross earnings of the factory workers for Larkin Company during the month of January are $91,000. The employer's payroll tax

cestrela7 [59]

Answer:

Explanation:

The journal entry is shown below:

(a) Factory Labor/Expenses A/c Dr $103,800

To Factory wages payable $91,000

To Employer payroll taxes payable $7,700

To Fringe benefits payable $5,100

(Being labor expenses are recorded)

(b) Direct labor A/c Dr $87192 ($103,800 × 84%)

Indirect labor A/c Dr $16,608 ($103,800 × 16%)

To Factory Labor $103,800

(Being factor labor is assigned)

7 0

3 years ago

For each of the following scenarios, begin by assuming that all demand factors are set to their original values and Peacock is c

irina [24]

Answer: The Demand should be in elastic

Explanation:

Peacock hotel rooms are a normal good and they have a negative price elasticity of demand, meaning a decrease in price of hotel rooms per night will increase quantity of hotels rooms demanded for Peacock.

Peacock is considering decreasing Prices to $ 175 per unit, for this decrease in Prices to lead to a decrease in total revenue, The demand for Peacock hotel rooms should be inelastic. When the demand for Peacock hotel rooms is inelastic a decrease in price to $ 175 will lead to a small change in the quantity of hotel rooms demanded for Peacock which will then lead to a decrease in Total Revenue.

5 0

3 years ago

Hector is a married, self-employed taxpayer, and this year he paid $3,000 for his health insurance premiums (not through an exch

Korvikt [17]

Answer:

The answer to this question is option B. Hector's spouse participates in an employer-sponsored plan but Hector is not eligible to participate in this plan.

Explanation:

Hector can deduct the cost of the premium for AGI if Hector's spouse participates in an employer-sponsored plan but Hector is not eligible to participate in this plan.

7 0

3 years ago

A mixed cost: A. Requires the future outlay of cash and is relevant for future decision making. B. Does not change with changes

Ket [755]

Answer:

6. D. Contains a combination of fixed costs and variable costs.

7. B. Does not change with changes in the volume of activity within the relevant range.

8. C. Direct materials, direct labor, and factory overhead.

9. A. Finished goods inventory.

10. D. Work-in-Process inventory.

11. B. Cost of goods purchased.

Explanation:

6. Mixed cost is a combination of fixed costs and variable costs. Therefore, the option "D" is the correct answer. However, it is not directly traceable to a cost object. The mixed cost has not been incurred until the manufacturer uses it. It cannot change up to a specific volume, but mixed cost increases after that limit — for example - Telephone bill or Electric bill.

7. Fixed cost is the cost that does not change as the volume changes within the relevant range. Therefore, option B is right, and option D is incorrect. Because it does not require the future outlay of cash for decision making, it is not directly traceable to a cost object. If the manufacturer does not rent a house for administrative purposes, it can be avoided.

8. The three major cost components of a manufactured product are-

Direct materials, direct labor, and factory overhead. Those are the combination of manufacturing cost. So, C is the answer. Indirect labor and materials are not major cost components, so B is incorrect. Opportunity cost and sunk costs are decision-making costs, so D is wrong. Selling, administrative, and marketing costs are non-manufacturing costs, so A and E are wrong.

9. When the manufacturing firm has completed the production of a specific product but has not yet sold to the customers or third parties, it is termed as the finished goods inventory. In short, it states that the number of manufactured products that are available for sale. It is a current asset for the manufacturer because those can be sold within a year.

10. Work-in-process inventory is such a type of manufacturing inventory or cost that has not yet been manufactured or partially manufactured or in the process of manufacturing. It is not a conversion costs because it may incur the direct labor and manufacturing overhead. It cannot be a finished good or cost of goods sold.

11. A manufacturing firm's cost of goods manufactured is equivalent to a merchandising firm's cost of goods purchased. Therefore, the option "B" is correct.

The cost of goods sold is measured with the help of the cost of goods purchased. So, option A is incorrect. After adding the costs of goods manufactured with the beginning finished goods inventory, we can get the costs of goods available for sale. Therefore, C, D, and E cannot be the answer.

3 0

3 years ago

Open market sales shrink ________ thereby lowering ________. Group of answer choices the money multiplier; the money supply rese

alexandr1967 [171]

Answer: Reserves and the monetary base; the money supply ( please check your options, they are not clear)

Explanation:

An open market operation (OMO) is an operation by a central bank to give lquidity to a bank or receive liquidity in its currency from a bank. A central bank uses OMO as the major means of balancing monetary policy target in terms of inflation, interest rates, or exchange rates, by purchasing or selling of government securities so as to to expand or contract money in the bank system and control interest rates.

The use of open market operations as a monetary policy tool ultimately helps the Fed pursue its dual responsibilities- improving employment and influencing prices—by controlling the supply of reserves in the banking system, which leads to interest rate changes.

Open market sales therefore shrink Reserves and Monetary base thereby lowering the Money Supply.

5 0

2 years ago