Under the National Labor Relations Act, the Union Has a Duty

question 28

True/False

Under the National Labor Relations Act, the union has a duty of fair representation, meaning that the union must provide equal representation to all members of the bargaining unit, whether or not they actually belong to the union.

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Definitions:

Absorption Costing

A cost accounting method that includes all manufacturing costs, including both fixed and variable, in the cost of a product.

Contribution Format

A type of income statement layout that separates variable costs from fixed costs, highlighting the contribution margin.

Absorption Costing

A technique in cost accounting that incorporates all costs of production, including fixed and variable, into the valuation of inventory and cost of goods sold.

Variable Costing

An accounting method that includes only variable production costs as product costs, treating fixed manufacturing overhead as an expense of the period in which it is incurred.