Explain the Concept of Justice in a Work Setting and Briefly

question 20

Essay

Explain the concept of justice in a work setting and briefly describe the four types of justice perceptions.(Justice and Perceived Organizational Support)

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Definitions:

Calculated Selling Price

The calculated selling price is the price at which a product must be sold to cover its costs and achieve a desired profit margin.

Markup

The amount added to the cost price of goods to cover overhead and profit.

Predetermined Overhead Rate

A rate used to allocate overhead costs to products or services, calculated in advance based on estimated costs and activity levels.

Predetermined Overhead Rate

A rate used to allocate manufacturing overhead costs to products based on a pre-established criterion, such as labor hours or machine hours.