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Labour Management and Relations

Process cost accounting

1. If the factory labor cost for a month was $123,000 (paid in cash), the following journal entry would be recorded by the process cost accounting system Factory Payroll 123,000 Cash 123,000 True/False 2.If actual overhead incurred during a period exceeds applied overhead,

Compute COGS, direct labor, percentage increases

Please help with the following problem. 1. A manufacturing company has a beginning finished goods inventory of $14,600, raw material purchases of $18,000, cost of goods manufactured of $32,500, and an ending finished goods inventory of $17,800. The cost of goods sold for this company is: 2. A company's prime costs total $

Managerial: Beres Corp, Johns Company, factory overhead, indirect labor

1. Beres Corporation has developed the following flexible budget formula for annual indirect labor cost: Total costs = $9,600 + $0.75 per machine hour Operating budgets for the current month are based on 30,000 hours of planned machine time. The amount of indirect labor costs included in this planned budget is A. $2,425.

MA_U10_34-38: Wright Corp, Walker Co, labor and material variance,

MA_U10_34-38: please see attachment for problems. 34. Wright Corporation began its operations on September 1 of the current year. Budgeted sales for the first three months of business are $240,000, $300,000, and $420,000, respectively, for September, October, and November. The company expects to sell 20% of its merchandise fo

China labor ethics are highlighted.

Details: Long-term investment projects require a thorough understanding of all attributes of doing business in that country, including import/export restrictions, labor relations, supplier financing, tax rules, depreciation schedules, currency properties and restrictions, and sources of short-term and long-term debt, to name a f

Who sets standards; variances in rate, quantity, labor, materials

1. Several people play an essential part in setting standards. Which of the following is incorrect as to setting standards? Accountants express judgment in dollars and cents. Engineers identify material, labor, and machine requirements. Human resource managers provide personnel information.

Four Employment Situations - References and Due Diligence Worksheet

You are a mid-level manager at Pacific-Oregon University (POU), a large private university, and have been asked to provide your boss, department director Pat Grey, with advice on several situations currently facing the department. Pat knows that you have recently completed a course in employment law, and asks that you identify w

You are the Chief Financial Officer (CFO) of this struggling airline, which faces labor problems, cash flow difficulties, and competition from low-cost carriers. The financial details are:

You are the Chief Financial Officer (CFO) of this struggling airline, which faces labor problems, cash flow difficulties, and competition from low-cost carriers. The financial details are: Revenue last year was $400 million Operating costs were $300 million (20% marketing, 25% fuel, and 55% labor) Gross profit was $

Compensation and Benifits

What is the relationship among money, labor costs, profitability and knowledge in the modern democratic capitalistic society? Compare and contrast this relationship with that of a socialized or communist society? What suggestions or recommendations can you offer?

Correction for overcharged labor and burden on finished good

I have overcharged my labor and burden on the finished goods inventory. I know I need to make an adjustment, but when I make a credit to my finished goods liability I am unsure where I would make the journal entry for the new found cash. In other words, if I credit finished goods, what to I debit on the other side of the led

Labor relations and their impact on organizations

A response which examines the following: a.Defines unions and labor relations and their impact on organizations. b.Examines the impact of changes in employee relations strategies, policies, and practices on organizational performance. c.Answers the question "Are unions still relevant in the United States?" And touche

Budget Problems for Pickwick Company

Business budget problem for the Pickwick Company: Required: 1. Calculate the level production amount. 2. Calculate the value of the finished goods inventory using a level production plan. 3. What is the quarterly labor budget in hours and dollars at level production.

MCQ: Labor relations, expensive benefits, grievance, arbitrator

A commonly accepted proposition is that an organization's production is a combination of: __a. machinery and equipment, employee labor, and managerial ability. __b. machinery and equipment, employee labor, and foreign competition. __c. employee labor, managerial ability, and plant location. __d. managerial ability, plant

MCQ: The entry to record direct labor costs into production in a job order cost accounting system is _______. The recording of the jobs shipped and customers billed would include a debit to _______. What is the amount of overapplied or underapplied manufacturing overhead at the end of the year?

4. The entry to record direct labor costs into production in a job order cost accounting system is _______. a) debit Factory Overhead, credit Work in Process b) debit Finished Goods, credit Wages Payable c) debit Work in Process, credit Wages Payable d) debit Factory Overhead, credit Wages

Performance Measurement

Compare and contrast at least three performance measurements. The importance of performance measurement within a project.

Manjiri Corporation: Calculate price, quantity, labor and efficiency variances

The Manjiri Corporation uses a standard cost system. It produces deluxe widgets and budgets for 1000 units to be produced and sold during the current year. The budgeted sales price per widget is $400. The standard cost per deluxe widget is listed below. The firm allocates manufacturing overhead using direct labor hours.

Business: standard rate per direct labor-hour

Jeff's Corporation is developing direct labor standards. The basic direct labor wage rate is $14.00 per hour. Employment taxes are 11% of the basic wage rate. Fringe benefits are $3.24 per direct labor-hour. The standard rate per direct labor-hour should be?

Strike or Labor Dispute

Prepare a brief report about a famous strike or labor dispute. The report should explain the dispute and why the action was or was not successful. Please reference your source(s)

Direct Material and Direct Labor Variances

The following standards were developed for a line of lightposts: Standard Inputs Expected for Each Unit of Output Standard Price per Achieved Unit of Input Direct materials 5 pounds $10 p

Managing Conflict

You are the Owner - CEO of a small job shop machine tool company. You have 35 employees, most of whom are highly skilled machinists who belong to Local 999 of the International Brotherhood of Good Guys Union. Generally, you are an open manager with an abiding sense of fair play and ethics. For this reason, you have been able to

True/False Problems Relating to Direct Labor Requirements

Is it true or false statement? If direct labor-hours is used as the allocation base in a job-order costing system, but overhead costs are not caused by direct-labor hours, then jobs with high direct labor requirements will tend to be overcosted relative to jobs with low direct labor requirements.

Maximum Amount of Contribution Margin

Wood Carving Corporation manufactures three products. Because of a recent lack of skilled wood carvers, the corporation has had a shortage of available labor hours. The following per unit data relates to the three products of the corporation: Letter Openers Elvis Statues Candle Holders Sales price $31 $83 $65 Variable c