Explain the nature and role of ESOPs in strategic management
What will be an ideal response?
An ESOP is a tax-qualified, defined-contribution, employee-benefit plan whereby employees purchase stock of the company through borrowed money or cash contributions. ESOPs control more than $600 billion in corporate stock in the United States. ESOPs empower employees to work as owners. Besides reducing worker alienation and stimulating productivity, ESOPs allow firms other benefits, such as substantial tax savings.
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The story about the desk clerk at the Marriott Long Wharf Hotel in Boston is a good example of what aspect of effective service recovery?
What will be an ideal response?
Factory overhead was applied to completed jobs at the rate of 40% of direct labor costs. At the end of the year, several jobs were still in process. The job cost ledger shows direct labor costs of $7,000 . The proper journal entry for this adjustment is as follows:
a. A complete adjustment cannot be made due to lack of sufficient information. b. Debit Factory Overhead $2,800, credit Work in Process Inventory $2,800. c. Debit Work in Process Inventory $4,200, credit Factory Overhead $4,200. d. Debit Factory Overhead $4,200, credit Work in Process Inventory $4,200. e. Debit Work in Process Inventory $2,800, credit Factory Overhead $2,800.