Which of the following statements aboutforms of variable pay are true?Group of answer choicesA bonus is simply a one-time payment ofa piecework rate.Stock options are a category of job-sharing pay plans.Profit-sharing plans are also called piece-rate plans.Gain-sharing is a motivational plan basedon group productivity.Profit-sharing plans are based on theconcept that intrinsic rewards are moremotivating than extrinsic rewards.

Variable pay refers to the sales remuneration portion which is dependent through job performance. It…

Answered: Which of the following statements about…

Which of the following statements about forms of variable pay are true? Group of answer choices A bonus is simply a one-time payment of a piecework rate.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

See similar textbooks

Related questions

Q: 1 Jenny Watson started her consulting business, Jenny Consulting, in 2020. During January 2021,…

A: Journal Entries - Journal Entries are the recording of transactions of the organization. It is…

Q: A new machine with a purchase price of $90,021, with transportation costs of $9,593, installation…

A: As per IAS 16, Property plant and Equipment The cost of an asset compromises of its purchase price,…

Q: att's Eat 'N Run has two categories of direct labor: unskilled, which costs S17 per hour, and…

A: The company compares the actual costs and actual performance with the budgeted ones. The difference…

Q: Belmont Corp. is considering the purchase of a new piece of equipment. The cost savings from the…

A: Formulas:- Rate of Return = (Net benefit or loss generated by new equipment /…

Q: FINANCIAL STATEMENT ANALYSIS FINANCIAL INFORMATION *USE THE DATA BELOW FOR THE CREATION OF…

A: Horizontal analysis: It is utilized in the review of an organization's company's financial…

Q: There were 1,500 units in beginning inventory that were 40% complete with regard to conversion.…

Q: The profits of firm for the five years are as follows: Year Profit (Rs.) 2012-13 20.000 2013-14…

A: Introduction:- Goodwill is an intangible asset. It arises when another company acquires a new…

Q: Analysis of Multiple Produc Alo Company produces commercial printers. One is the regular model, a…

A: Break even point is the point where the company has no profit or loss . Thus the contribution margin…

Q: An S corporation shareholder's basis may be affected by some or all business liabilities a. Never b.…

A: An S corporation can be defined as a corporation that transfers its shareholder’s income,…

Q: ee are partners, sharing earnings in the ratio of 3:4:6: accounts on December 31, 2019 are as…

A: Given as, Bench- P 1,000 Mark- P 25,000 Spencer- P 25,000 Lee- P 9,000

Q: Question Content Area

A: Cash flow is categorized in three parts Operating Investing Financing

Q: n early 2021, Amina Corp. had balances in account receivables of BD 125,000 and allowance for…

A: The allowance for uncollectible accounts is established to record the estimated bad debt expense for…

Q: Villie Company's retained earnings increased $33,000 during 2014. What oss given that Willie…

A: Retained earnings is accumulated earnings over the period of time. Net income increases retained…

Q: Kyle, a local entrepreneur, is planning to sell 10 liter bottled water in his sari- sari store. A…

A: Introduction:- The following basic information as follows under:- A local water purifying business…

Q: An entity has made an error in the balance sheet. During the current year, a bond has been…

A: it is important that financial statement in order to make investment decisions by the investors. the…

Q: Nichols Enterprises has an investment in 27,000 bonds of Elliott Electronics that Nichols accounts…

A: Investment: An investment is a financial asset that is purchased with the expectation of providing…

Q: For the past 3 years, Warrem has operated a part-time business venture from his home. As of April 1,…

A: Journal entry: It refers to the recording or keeping a record of the company's financial…

Q: On March 1, Eckert and Kelley formed a partnership. Eckert contributed $75,000 cash, and Kelley…

A: The partnership comes into existence when two or more persons agree to do the business and further…

Q: Which of the following is an example of an adjusting entry? Recording the billing of customers for…

A: Hi student Since there are multiple questions, we will answer only first question.

Q: On January 1, 2021, Fisher Corporation paid $2,427 appropriately applied the equity method for its…

A: An Income statement shows the financial position of the company It is an important statement that…

Q: In terms of economic size, the country, which is a large country, is in the state of food (F) export…

A: Answer:- Import meaning:- A import can be defined as a product or service purchased in one nation…

Q: The balance in the supplies account before adjustment at the end of the year is $6,892. The proper…

A: Lets understand the basics. Adjustment entry is required to pass to record correct amount of revenue…

Q: Required information [The following information applies to the questions displayed below] EagleEye…

A: The question requires us to calculate the Target Cost per unit for entry into the digital binocular…

Q: l grid, they lost their vacation home to fire. The ome last year, and received insurance proceeds…

A: Given as, The 2021 tax year as,

Q: The entry to close Dividends would be a. debit Retained Earnings, $2,500, credit Dividends, $2,500…

A: The dividend is the profit distributed to the shareholders of the company on the basis of their…

Q: ear 1, Réése Incorporated issued bonds with a face value of $230,000, a stated rate of interest of 8…

A: a. Amortization Schedule Cashpayment Interestexpense Premiumamortization Carryingvalue Jan…

Q: ed to be. Manufacturing overhead was estimated to be $261,300 for the year along with 20,100 direct…

A: Over (under) applied overhead = Applied overhead - Actual overhead where, Applied overhead = Actual…

Q: now you would make a model-based decision to approve or disapprove the contract.

A: Firstly, contractor has 500 labour which means he has abundant human resource, which can be optimal…

Q: The Jessica Co. has the following errors on its books as of December 31, 2020. The books for 2020…

A: Journal entries, we make in our business either economic or non economics, it helps to keep records…

Q: Problem 13-47 (LO 13-3) Jackson invested $190,000 in a passive activity five years ago. On January…

A: Passive Activity: An activity is considered to be a passive activity where the taxpayer has not been…

Q: The financial manager of Company A is evaluating Company B as a possible acquisition. Company B is…

A: Acquisition of other company's business is known as business acquisition. Under acquisition, all…

Q: ABC Inc purchased $9,000 inventory during the month of November from CDE Co. CDE applied a credit…

A: Formula used: Net purchases = Purchases - Purchase returns. Deduction of purchase returns value from…

Q: Roopali is considering an investment proposal with the following cash flows: Initial…

A: Payback Period: This is the amount of time it takes to recoup the cost of an investment or the…

Q: What amount should be reported as net income for the quarter ended September 30, 2021?

A: Net Income 1,900,000 Gain from expropriation : ( 1,200,000 / 3) (400,000) Change in Accounting…

Q: X Company prepares monthly financial statements. The following transactions occurred on October 1:…

A: Adjusting entries are those journal entries which are passed at the end of the period for the…

Q: Prepare the Profit and Loss Appropriation Account and Partners' Current Account.

A: Profit and loss appropriation a/c Dr.…

Q: As. Ann Chavez, the owner of the business, transferred cash rom personal bank account to the account…

A: The closing entries are prepared to close the temporary accounts of the business. The temporary…

Q: Which of the fo

A: The portion of sales remuneration dependent by job performance is known as variable pay. Variable…

Q: Identify the better performer between Best Buy and Dollar General. Calculate how much inventory the…

A: We are given some calculations regarding two companies - Best Buy and dollar General. Based on the…

Q: Prepare the Income Statement t

Q: prepare the Closing Entries

A: June 18 Furniture Dr. 12000 To cash 12000 (being the purchase of…

Q: In the preparation of the worksheet of a merchandising business, the ending balance of the…

A: Merchandise inventory is the current assets, goods purchased or manufactured with the purpose of…

Q: Tunn Company revealed the following shareholders’ equity on December 31, 2019: 12%…

A: Given information, Total Loss =1,500,000 + 1,000,000 + 500,000 = 3,000,000 Total Income =1,725,000 +…

Q: ABC Corporation reports the following information: Correction of overstatement of depreciation…

A: GIVEN Correction of overstatement of depreciation expense in prior years, net of tax $ 430,000…

Q: e 11-15 (Algo) Service Department Charges [LO11-4] Korvanis Corporation operates a Medical Services…

A: The total cost of production of a good comprises of the total fixed cost of production and the total…

Q: FlashKick Company manufactures and sells soccer balls for teams of children in elementary and high…

A: Sales budget is one of the form of budget being prepared in business. It shows estimated sales units…

Q: TRUE or FALSE 1. If all individual B/C ratios of MEAs are less than 1.00, then the preferred option…

A: B/C ratio is the ratio which measure the benefits over the costs and it is determined through…

Q: Balance of Cleaning Supplies Expense The trial balance for Ariel Certified Cleaners appears as…

A: Trial balance is the summary of all general ledger account balances in the business. Total debits…

Q: One of the companies purchased a set of fixed assets for an amount of 12 million dinars in cash. The…

A: When group of assets are purchased at single amount they are recorded in proportion to their fair…

Q: Balance of Cash * The trial balance for Ariel Certified Cleaners appears as follows: Ariel Certified…

A: Trial balance shows summary presented for all the general ledger account balances in the business.…

Question

Which of the following statements about
forms of variable pay are true?
Group of answer choices
A bonus is simply a one-time payment of
a piecework rate.
Stock options are a category of job-
sharing pay plans.
Profit-sharing plans are also called piece-
rate plans.
Gain-sharing is a motivational plan based
on group productivity.
Profit-sharing plans are based on the
concept that intrinsic rewards are more
motivating than extrinsic rewards.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

Which of the following is not an advantage of a group incentive pay scheme O A. administration time is reduced O B. individual working arrangements may become more flexible OC. non-production hours for individuals can be included in the scheme D. bonuses are easy to allocate to individuals Reset Selection
Which of the following is not an advantage of a group incentive pay schemeA. administration time is reducedB. individual working arrangements may become more flexibleC. non-production hours for individuals can be included in the schemeD. bonuses are easy to allocate to individuals
Traditional defined benefit plans are better suited than cash-balance plans for a mobile workforce. Group of answer choices a. True b. False
A ________ plan puts the onus of decision making and investment risk on the employee. A. Defined contribution B. Defined benefits
Consider the one-sided search model and explain (also use graphs please) the effects of an increase in the job offer rate p?
What are the important key points of earning per share PAS 33 and employee benefits PAS 19?
Assume that the performance of the top manager of Z-Var is evaluated and rewarded largely on the basis of reported operating income. Which costing method would the manager prefer? Why?
THE MAIN DIFFERENCE BETWEEN EX-ANTE AND EX-POST ECONOMIC PROFIT a. Representing the opportunity cost of captial b. Is calledbthe hold-up problem c. Are the sunk costs d. Is immaterial in managerial decisions
1. Why is variable costing a preferred managerial tool in profit planning? 2. What is the difference between the condensed and expanded format of contribution margin statement? 3. How is cost-volume-profit analysis different from profit planning? 4. Compare the assumptions in profit planning and cvp analysis 5. What are the four levels of learning in profit planning? 6. Present a summary of formulas/effects for each level of learning in profit planning. 7. What are the two approaches in controlling profit? 8. What are the important points to remember in preparing the breakeven point graph? The cost-volume-profit (CVP) graph?
The labor supply curve a. may slope either upward or downward, depending upon the real wage b. slopes downward to illustrate that a decrease in the real wage decreases the number of individuals willing to work c. slopes upward to illustrate that more people will want to work as the real wage increases d. slopes upward to illustrate that changes in the real wage are directly proportional to changes in the nominal wage e. slopes downward to illustrate that the availability of workers is directly proportional to the real wage
What profit-based pricing approach should a manager use if he orshe wants to reflect the percentage of the firm’s resources used inobtaining the profit?
Which of the following option shows the rate at which company is earning profit? Select one: a. All options are correct b. Margin of safety c. Contribution margin d. Profit volume ratio