Do you think that factory wages per hour during the strike would be higher, lower, or the same throughout the strike and negotiations as compared to earlier in the year? Explain. mHust Born Quality Confections (Just Born) makesmarshmallow Peeps, Mike andamales, and other candies. The companyhas approximately 600 employees privately-held. Its headquarters and Peepsfactory are in Bethlehem, Pennsyivana. In September 2016, the factory employeesrepresented by the Bakery, Corfeconery, Tobacco Workers and Grain MillersInternational Union of America al 6 went on strike and walked off the job.Nearly 400 workers at Just Born are members of this union.The union employees returned to work in early October after being on strike forabout a month. During the strike, the company did hire 56 replacement workers, sonot everyone was able to return to their old job after the strike. Also, during thestrike, some employees did cross the picket line to work, so Just Born had a mixtureof experienced and new employees in the factory during the strike.Fall is Just Born's busiest time of the year. Production is being ramped up to meetthe demand for Peeps during the Easter season.The negotiations have not been finalized and the possibility of a return to the strikeremains. The main sticking point is the company pension. Just Born wants newemployees to participate in a 401(k) plan rather than the company's pension plan.Just Born has stated the current pension plan will stay the same for all currentemployees, but the union disagrees. The other point of disagreement is the amountof pay increases for employees.hp

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Business

Accounting

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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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The empirical evidence on unemployment spell durations suggests that workers who leave unemployment earlier (that is, find or take a job sooner) have no higher post-unemployment wages than workers who leave unemployment later. This result could be interpreted as evidence that the quality of the job match does not improve as the unemployment spell grows longer. (a) What does this interpretation of the evidence imply about the moral hazard costs of UI? (b) An alternative explanation for this evidence is that workers with longer unemployment spells are less qualified than are workers with shorter unemployment spells. How could you empirically distinguish between this explanation and the explanation put forth in (a)?
Let's suppose that you are making automobiles. In July there is a plant shutdown for two weeks. Factory labor, both direct (production line workers) and indirect (factory supervisor), take mandatory vacation during those two weeks. Explain, the mechanics of calculating a Predetermined Overhead Rate for this year. Which allocation base (or bases) may be used to apply overhead cost to the automobiles produced? Should the cost of the factory labor vacations be spread to all automobiles produced during the entire year? Would the cost of the vacations for the Sales and Human Resource departments also be allocated to the automobiles? What cost type of cost are these as compared to the factory worker vacation costs? How do vacation costs for Sales and HR departments flow through the Income Statement?
Provide two reasons why overhead might be underapplied in a given year.
Regular pay = hourly rate / regular hours worked true or false
Is there a difference between the number of hours students study and the hours they work?Also, is there an association between the two?
The president has read in industry journals that throughput time, MCE, and delivery cycle time are important measures of performance, but no one is sure how they are computed. You have been asked to assist the company, and you have gathered the following data relating to these measures: Average per Month (in days) 1 2 3 4 Wait time per order before start of production Inspection time per unit Process time per unit Queue time per unit Move time per unit 9.0 11.5 12.0 14.0 0.8 0.7 0.7 0.7 2.1 2.0 1.9 1.8 2.8 4.4 6.0 7.0 0.3 0.4 0.4 0.5 Required: 1-a. Compute the throughput time for each month. 1-b. Compute the manufacturing cycle efficiency (MCE) for each month. 1-c. Compute the delivery cycle time for each month. 3-a. Refer to the inspection time, process time, and so forth, given for month 4. Assume that in month 5 the inspection time, process time, and so forth, are the same as for month 4, except that the company is able to completely eliminate the queue time during production using…
The calculation of direct labour variances shows a favourable labour rate variance of £2,600 and an adverse labour efficiency variance of £3,200. Which ONE of the following sentences is the best interpretation of this result? C O A. The department has introduced new methods of working and there have been overtime payments to compensate for extra hours of working OB. A machine was not working, leading to idle time for which the employees should not be blamed C. A lower grade of employee has been employed compared with the grade used for the budget, but the employees have taken a longer time to complete the work required D. The union has negotiated higher-than-expected pay increases
Why is the identification of favorable and unfavorable variances so important to a company? How can the identification of the variances help management control costs? Please explain. As you are considering the flexible budgeting topic of the week, it is important for you to look at this analysis as a significant contribution to the management of the company. Knowing what the bottom line profit or loss is important. But what is more important is to understand how your actual results varied in terms of units sold versus how the actual cost of each unit differed from the budget.
Belle Manufacturing has an unfavorable direct labor rate variance. Which of the following would be the most likely reason for this variance? * The company used lower-paid workers than they had expected. Employees took a longer amount of time to produce the product than expected. The company gave employees an unexpected raise due to union negotiations. Employees used more direct materials in the production process than expected.
Which of the following will increase a company's manufacturing cycle efficiency (MCE)? Decrease in Inspection Time Decrease in Queue Time A) Yes Yes B) Yes No C) No Yes D) No No
The standard direct labor rates in effect for the current fiscal year and the standard hours allowed for the actual output of work for July are shown in the following schedule. Worker classification Standard Direct Labor Rate per Hour $60 Standard Direct Labor-Hours Allowed for Output 1,380 1,840 2,300 II 55 III 45 The wage rates for each labor class increased under the terms of a new contract. The standard wage rates were not revised to reflect the new contract. The actual direct labor-hours worked and the actual direct labor rates per hour experienced for the month of July were as follows. Actual Direct Labor Rate Worker Classification Actual Direct per Hour $64 Labor-Hours 1,470 II 58 1,950 2,380 III 46 Required: Calculate the dollar amount of the total direct labor variance for July for Matthews & Bros. and break down the total variance into the following components: a. Direct labor price and efficiency variances. b. Direct labor mix and yield variances.