Answer:
Total cost= $6,180
Explanation:
<u>First, we need to calculate the predetermined overhead rate:</u>
Predetermined manufacturing overhead rate= total estimated overhead costs for the period/ total amount of allocation base
Predetermined manufacturing overhead rate= (202,100/47,000) + 2
Predetermined manufacturing overhead rate= $6.3 per direct labor hour
<u>Now, we can allocate overhead:</u>
<u />
Allocated MOH= Estimated manufacturing overhead rate* Actual amount of allocation base
Allocated MOH= 6.3*100
Allocated MOH= 630
<u>Finally, the total cost:</u>
Total cost= 850 + 4,700 + 630
Total cost= $6,180
Answer:
Retained earnings at the beginning of the year;
Equity = Common stock + Retained earnings
Retained earnings = Equity - Common stock
Equity = Assets - Liabilities
= 700,000 - 210,000
=$490,000
Retained earnings = 490,000 - 200,000
=$290,000
........................................................Maria Queen..................................................
.....................................Statement of Retained Earnings..................................
.........................................For the year ended 2022..........................................
Opening Balance...............................................................................$290,000
Add:
Net Profit .............................................................................................$220,000
Less:
Dividends.............................................................................................($120,000)
Retained Earnings, 31 Dec 2022............................................$390,000
Answer:(1) The HR professional should have read the company policy and employment contract of each employees (2) Proper employees files should be maintained (3) order a reverse of the 11 percent pay increase untill the issue leading to the increase is looked into (4) The grievance will be on employee compensation and benefit (5) I will use the employee grievance process .
Explanation:
The human resources management is the process of supporting the accomplishment of organization objective by recruiting the needed human resources into the organization, integrating them into the organization as well as developing their potential for the overall benefit of the organization. The human resources management department is responsible for the personnel matters in the organization. In every organization, they usually have a company policy which is focused on how to resolve employees grievance in the organization. Therefore, as regard the case under review the HR professional should do the following to handle the issue at hand
(1) The HR manager should read the company policy on how a pay raise should be given to each employees, in addition to this the HR manager must also read the employment contract of each employees in order to know if the employees actually deserve a pay raise.
(2) with a view to prevent this in the future, the HR professional should ensure that employees files are properly maintained and before a pay raise can be granted to any employees in the future it should be in accordance with the contract agreement surrounding pay increases.
(3) The 11 percent pay raise that was already promised to the employees will be order to reversed back to the status quo untill the matter is looked into holistically to know if the employee actually deserve to have a pay raise in accordance with contract agreement surrounding pay increases.
(4) The grievance would be a formal notice to the management to register their dissatisfaction as regard the pay increase granted to only one employee that does not go across board.
(5) I will settle the grievances before involving other members of the grievance committee, I will then held a meeting with the representatives of the workers in private.then if the issue cannot be resolved at that level, I will investigate the matter further and the result will be made known to the workers and if the workers is not satisfied the matter will go to the management level where the fact of the matter will be looked into and a decision will be made to settle the grievance.
$45,000 per year is the economic cost of the time he contributes to the new business.
<h3><u>
Explanation:</u></h3>
The difference between the accounting cost and the implicit cost refers to the economic cost. Implicit cost refers to the opportunity cost that the person incurs when he makes a choice. For example consider Geetha is spending something for watching a movie. The cost that she spends for the movie and the cost that can be forgone by her when she spends that for some other things will be included in the economic cost.
In the example given Jim was earning d $70,000 per year and now he is paying himself $25,000 per year for building a new business. Thus the economic cost will be $70,000 -$25,000 = $45,000 per year. Here the accounting cost is $70,000 and the implicit cost is $25,000.
Answer: E. Hillary, because this is a shipment contract
Explanation:
When Parties enter into a Shipment Contract, it means that the Buyer assumes the risk for the goods being delivered even before it is delivered.
To clarify, in a Shipment Contract, The Seller only has responsibility up until the point that they deliver the goods to a Carrier or the point of Shipment. Under this contract this is also known as the Point of Delivery.
Once they have delivered it to the point of Shipment, anything that happens thereafter is on the buyer.
This is a Shipment Contract in the above scenario and the dresses were damaged during shipment which absolves the seller as they had already delivered and shipped the dresses so the risk of loss is on Hillary.
