In an open shop, non-union employees are required to pay the union an amount equal to union dues before they can keep their jobs. closed agency open for freelance.
Those who are self-employed and aren't necessarily long-term freelance employees of one employer are referred to as freelance workers. Some freelancers are represented by a business or a temporary agency that resells their services to clients; other freelancers work independently or use websites or professional associations to get work.
Although the phrase "independent contractor" would be used in a separate register of English to represent the tax and employment classifications of this sort of worker, use of the term "freelancing" may signify engagement in such sectors given its prevalence in the cultural and creative industries.
The majority of people work as independent contractors in the following fields, professions, and industries: music, writing, acting, computer programming, web design, graphic design, translating and illustrating, film and video production.
Learn more about freelance here
https://brainly.com/question/27934761
#SPJ4
Which of the following is not a major barrier to entry into an industry?
a. Unfair competition
b. Diminishing marginal returns
c. Patents
d. Economies of scale
Diminishing marginal returns is not a major barrier to entry into an industry.
An economic theory known as the rule of declining marginal returns states that once an optimal level of capacity is reached, adding more factors of production will really only lead to smaller improvements in output.The rate of return for a marginal increase in investment is known as the mergical return; essentially speaking, this is the extra output that results from using a variable input one unit more while using other inputs at the same level.When production levels decrease as a result of raising one unit of production while holding all other variables constant, this is known as diminishing marginal returns. In other words, efficiency in production starts to decline.
learn more about investment here:
https://brainly.com/question/14682309
#SPJ4
Income Statement with Variances Alvarado Company produces a product that requires 3.0 standard pounds per unit at a standard price of $6.00 per pound. The company used 23,900 pounds to produce 8,000 units, which were purchased at $6.20 per pound. Each unit requires 7.5 standard direct labor hours per unit at a standard hourly rate of $22.50 per hour. For the 8,000 units produced, 60,200 hours were needed and employees were paid an hourly rate of $21.95 per hour. The company uses a standard variable overhead cost per unit of $1.45 per direct labor hour. Actual variable factory overhead was $85,900. The company uses a standard fixed overhead cost per unit of $2.00 per direct labor hour at 55,000 hours, which is 100% of normal capacity. Prepare an income statement through gross profit for Alvarado Company for the month ended March 31. Assume Alvarado sold 8,000 units at $250 per unit. For those boxes in which you must enter subtractive or negative numbers use a minus sign. If an amount box does not require an entry, leave it blank. Alvarado Company Income Statement Through Gross Profit For the Month Ended March 31 Line Item Description Amount Unfavorable Amount Favorable
The preparation of an income statement through gross profit for Alvarado Company for the month ended March 31 is as follows:
Alvarado Company
Income Statement Through Gross ProfitFor the Month Ended March 31
Sales $2,000,000
Cost of goods sold at standard 1,701,000
Gross profit-at standard $299,000
Variances from standard cost:
Direct materials price $4,780 Favorable
Direct materials quantity -600 Unfavorable
Direct labor rate 33,110 Favorable
Direct labor time -4,500 Unfavorable
Factory overhead controllable -1,100 Unfavorable
Factory overhead volume -10,000 Unfavorable
Net variances from standard costs = $21,690 Favorable
Actual gross profit = $320,690
What is cost variance?Cost variance refers to the computed difference between the standard cost and the actual cost.
The price variance and quantity variance make up the total cost variance.
Production costs consist of direct materials and labor, and variable and fixed costs.
Standard Actual
Pounds per unit 3.0 2.9875 (23,900/8,000)
Direct Materials 24,000 23,900 pounds
Material price per pound $6.00 $6.20
Direct materials cost $144,000 $148,180
Direct labor hours per unit 7.5 7.525 (60,200 ÷ 8,000)
Hourly rate $22.50 $21.95
Variable overhead cost $1.45 $1.4269 ($85,900 ÷ 60,200)
Total variable overhead $87,290 $85,900
Fixed overhead cost $2.00
Fixed overhead direct hours 55,000 60,200
Total fixed overhead costs $110,000 $
Sales revenue = $2,000,000 ($250 x 8,000)
Variances from standard cost:Direct materials price $4,780 ($6.00 - $6.20 x 23,900)
Direct materials quantity -600 (24,000 - 23,900 x $6)
Direct labor rate 33,110 ($22.50 - $21.95 x 60,200)
Direct labor time -4,500 [(60,000 - 60,200) x $22.50]
Factory overhead controllable -1,100 ($1.45 x 60,000 - $85,900)
Factory overhead volume -10,000 [(55,000 - 60,000) x $2]
Net variances from standard costs = $21,690
Gross profit = $320,690 ($299,000 + $21,690)
Cost of goods sold:Direct materials $144,000 ($6.00 x 24,000)
Direct labor 1,350,000 ($22.50 x 60,000)
Variable overhead 87,000 (60,000 x $1,45)
Fixed overhead 120,000 (60,000 x $2)
Cost of goods sold $1,701,000
Learn more about cost variances at https://brainly.com/question/24064163
#SPJ1
