If a Labor Union Specifies That Certain Jobs Can Only

question 103

Multiple Choice

If a labor union specifies that certain jobs can only be done by certain people (for example, only electricians can do electrical work) , it is likely trying to

• A)affect the elasticity of demand for its labor.
• B)reduce the availability of substitute factors for its labor.
• C)increase the marginal physical product of its members.
• D)a and b
• E)none of the above

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Definitions:

Materials Ledger

A record of the quantity and value of materials on hand, received, and issued during a period.

Subsidiary Ledger

A detailed ledger that supplements a general ledger by providing detailed information for individual accounts, such as accounts payable or receivable.

Overapplied Overhead

A situation where the allocated manufacturing overhead cost for a period exceeds the actual overhead costs incurred, leading to a favorable variance.

Applied Overhead

The allocation of overhead costs to specific cost objects, such as products or jobs, based on a predetermined rate or method.