Article Summary According to the U.S.Department of Labor,nonfarm Labor Productivity Rose at Rose

question 192

Multiple Choice

Article Summary
According to the U.S.Department of Labor,nonfarm labor productivity rose at an annualized rate of 0.9 percent in the second quarter of 2017 as hours worked and output per worker both rose at their fastest pace in 18 months.Compared to the same quarter in 2016,productivity increased at a rate of 1.2 percent,its best performance in two years.,while unit labor costs fell at a rate of 0.2 percent.From 2007 to 2016,labor productivity increased at an average annual rate of 1.2 percent,well below its long-term growth rate of 2.1 percent from 1947 to 2016.This is an indication of a decline in the potential growth rate,blamed in part on a shortage of workers and low capital expenditure.
Source: Lucia Mutikani,"U.S.productivity rises in second quarter,keeps labor costs in check," reuters.com,August 9,2017.
-Refer to the Article Summary.A slowdown in the growth rate of labor productivity,as occurred from 2007-2016,will likely result in

• A)an increase in real wages and an increase in the inflation rate.
• B)a decrease in nominal wages and an increase in the inflation rate.
• C)an increase in the country's potential growth rate.
• D)a decline in the country's potential growth rate.

Recognize and allocate underapplied or overapplied manufacturing overhead.

Determine the adjusted cost of goods sold and manufactured.

Compute the cost of goods manufactured and its adjustments.

Understand the impact of manufacturing overhead on finished goods and work in process inventories.

---

Definitions:

Self-Managed Teams

Groups of employees who are given the autonomy to plan, coordinate, and manage their own tasks and decisions within an organization.

Organization's Turnover

The rate at which employees leave a company and are replaced by new ones over a specific period.

Employee Attitudes

The overall feelings and opinions employees have about their workplace, which can influence their behavior and performance.

Negative Advertising

A type of advertising campaign that focuses on pointing out the negative aspects of competitors or their products rather than highlighting one's own positives.