Subject: Financial Accounting Question:You are interviewing three people for one sales job. On the basis ofyour experience, you believe Jane can sell 600 units a day, Tom cansell 450 units a day and Kevin can sell 400 units a day. The daily salaryeach person is requesting is as follows: Jane, $200; Tom, $150; Kevin,$100. How would you rank the three applicants?

We must assess each candidate's cost-effectiveness by counting the number of units they can sell for…

Answered: Question: You are interviewing three…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question: You are interviewing three people for one sales job. On the basis of your experience, you believe Jane can sell 600 units a day, Tom can sell 450 units a day and Kevin can sell 400 units a day. The daily salary each person is requesting is as follows: Jane, $200; Tom, $150; Kevin, $100. How would you rank the three applicants?
Ans
You are interviewing three people for one sales job. On the basis of your experience, you believe Mike can sell 600 units a day, Jerry can sell 450 units a day and Ben can sell 400 units a day. The daily salary each person is requesting is as follows: Mike, $200; Jerry, $150; Ben, $100. How would you rank the three applicants? ANSWER
You are interviewing three people for one sales job. On the basis of your experience, you believe Mike can sell 600 units a day, Jerry can sell 450 units a day and Ben can sell 400 units a day. The daily salary each person is requesting is as follows: Mike, $200; Jerry, $150; Ben, $100. How would you rank the three applicants? ANSWER THIS ACCOUNTING PROBLEM
You are interviewing three people for one sales job. On the basis of your experience, you believe Mike can sell 600 units a day, Jerry can sell 450 units a day and Ben can sell 400 units a day. The daily salary each person is requesting is as follows: Mike, $200; Jerry, $150; Ben, $100. How would you rank the three applicants?
Give answer to the general Accounting Problem
Fred is considering three job offers in advertising. A full-time position as a coordinator that pays a salary of $40,000 per year. A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week. A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising. The following are the specifics about the benefits of the job opportunities: The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%). Fred will deduct 15% of Gross Income to cover Federal Income Tax. Fred does not live in a state with State Income Tax. Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year. The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fully paid retirement plan. The Designer job includes five paid vacation days and three paid sick days…
Fred is considering three job offers in advertising. A full-time position as a coordinator that pays a salary of $40,000 per year. A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week. A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising. The following are the specifics about the benefits of the job opportunities: The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%). Fred will deduct 15% of Gross Income to cover Federal Income Tax. Fred does not live in a state with State Income Tax. Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year. The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fully paid retirement plan. The Designer job includes five paid vacation days and three paid sick days…
Fred is considering three job offers in advertising. A full-time position as a coordinator that pays a salary of $40,000 per year. A full-time position as a designer that pays an hourly wage of $28. The job assumes five 8-hour days per week. A sales representative that pays a 5% commission. Sales reps typically sell an average of $100,000 per month in advertising. The following are the specifics about the benefits of the job opportunities: The U.S. government will deduct Social Security (6.2%) and Medicare (1.45%). Fred will deduct 15% of Gross Income to cover Federal Income Tax. Fred does not live in a state with State Income Tax. Fred is planning on taking two weeks of vacation and has typically been sick 3 days per year. The Coordinator job includes two weeks of paid vacation and five paid sick days per year, paid health insurance, life insurance costing $35 per month, and a fully paid retirement plan. The Designer job includes five paid vacation days and three paid sick days…
Bill Mason is considering two job offers. Job 1 pays a salary of $39,700 with $5,390 of nontaxable employee benefits. Job 2 pays a salary of $38,000 and $6,600 of nontaxatle benefits. Use a 15 percent tax rate. a. Calculate the monetary value of each job. b. Which position would have the higher monetary value? Complete this question by entering your answers in the tabs below. Required 1 Required 2 Calculate the monetary value of each job. Note: Round your final answers to the nearest whole number. Job 1 Job 2 Monetary Value
Suppose that an accounting firm with 10 employees hires another accountant. Bydoing so, it goes from serving 30 customers each week to serving 32 customerseach week. What is the marginal product of labor for the new accountant?
To recap, W.T.’s planning on the following: Newspaper ad $120 per month Social media manager $100 per month; $1 per job scheduled Payment collection $0.75 per job Gas $4.00 per job Considering his analysis of similar services and to keep things simple, W.T. plans to price all jobs the same and charge $15 per job. Because of this flat rate, he anticipates he’ll likely need to create different types of “jobs”. For example, purchasing a list of items at the grocery store would be one job, while a bundle of 2-3 small errands such as picking up dry cleaning and prescriptions, might be considered one job. We’ll deal with those details later. For now, assume that all jobs are priced at $15 each and all have the associated variable expenses listed above. Because this will be a new business, W.T. knows business will likely be slow at the beginning. Complete the following table assuming W.T. completes 10 jobs in a single month. Item Per Job Total (10…

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