Organizational Behavior
OER 2019 Edition
ISBN: 9781947172715
Author: OpenStax
Publisher: OpenStax College
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Textbook Question
Chapter 7, Problem 2CRQ
How might Maslow explain why organizational rewards that motivate workers today may not motivate the same workers in 5 or 10 years?
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It is December 31, the end of the year, and the controller of Raney
Corporation is applying the lower-of-cost-or-market (LCM) rule to
inventories. Before any year-end adjustments, Raney reports the
following data:
Cost of goods sold
Historical cost of ending inventory as determined by a
physical count
$ 3,80,000
56,000
Raney determines that the current replacement cost of ending inventory
is $52,000. Show what Raney should report for ending inventory and for
cost of goods sold. Identify the financial statement where each item
appears.
Sunland Co. follows the practice of valuing its inventory at the lower-of-
cost-or-market. The following information is available from the
company's inventory records as of December 31, 2017.
Uni
It
Qua t
Replace
e
ntity Co
m
ment
Cost/Unit Price/Unit
Estimated
Selling
Completion
& Disposal
Normal
Profit
Margin/
Cost/Unit
st
Unit
A
1,500 $ 8.4
$ 9.41
$11.76
$ 1.68
$ 2.02
B
1,200 9.18
8.85
10.53
1.01
1.34
C
1,400 6.27
6.05
8.06
1.29
0.67
D
1,400 4.26
4.70
7.06
0.90
1.68
E
1,800 7.17
7.06
7.50
0.78
1.12
Greg Forda is an accounting clerk in the accounting department of
Sunland Co., and he cannot understand why the market value keeps
changing from replacement cost to net realizable value to something
that he cannot even figure out. Greg is very confused, and he is the one
who records inventory purchases and calculates ending inventory. You
are the manager of the department and an accountant.
(a) Calculate the lower-of-cost-or-market using the individual-item
approach.…
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Chapter 7 Solutions
Organizational Behavior
Ch. 7.1 - Explain the two drivers of motivation: direction...Ch. 7.1 - What are the differences between content and...Ch. 7.1 - Will there ever be a grand theory of motivation?Ch. 7.2 - Understand the content theories of motivation.Ch. 7.2 - Understand the contributions that Murray,...Ch. 7.3 - Understand the process theories of motivation:...Ch. 7.3 - Describe the managerial factors managers must...Ch. 7.4 - Understand the modern approaches to motivation...Ch. 7 - Discuss the benefits that accrue when an...Ch. 7 - How might Maslow explain why organizational...
Ch. 7 - Describe the process by which needs motivate...Ch. 7 - Discuss the importance of Herzbergs motivators and...Ch. 7 - Describe a work situation in which it would be...Ch. 7 - Discuss the potential effectiveness and...Ch. 7 - How can equity theory explain why a person who...Ch. 7 - Equity theory specifies a number of possible...Ch. 7 - What goals would be most likety to improve your...Ch. 7 - Identify two reasons why a formal goal-setting...Ch. 7 - What steps can an organization take to increase...Ch. 7 - Discuss how supervisors sometimes unintentionally...Ch. 7 - How can an employee attach high valence to high...Ch. 7 - Is there one best motivation theory? Explain your...Ch. 7 - A 2015 New York Times article described Amazon as...Ch. 7 - How do employees differ between a Walmart retail...Ch. 7 - With Amazon moving into the retail market with the...
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