Listed below are a few transactions and events of Maxum Company. a. Employees earn vacation pay at a rate of one day per month. During December, 23 employees qualify for one vacation day each. Their average daily wage is $160 per employee.
b. During December, Maxum Company sold 3,900 units of a product that carries a 60-day warranty. December sales for this product total $123,000. The company expects 7% of the units to need warranty repairs, and it estimates the average repair cost per unit will be $19.

Required:
Prepare any necessary adjusting entries at December 31, 2013, for Maxum Company’s year-end financial statements for each of the above separate transactions and events.

Suppose general motors demands labor according to the labor demand function 푤푤= 40−0. 5퐸퐸, where 푤푤 is the hourly wage and 퐸퐸 is the number of employees. the united auto workers union has a utility function given by 푈푈=푊푊∗퐸퐸. a.in 1984, the united auto workers union started negotiations with general motors by assuming that they were a monopoly union. find the wage and employment demands that the united auto workers union would have demanded before any bargaining began. b.if general motors and the united auto workers union both had excellent bargaining representatives, would this be the final labor contract? if not, then explain in words and graphically where they would end up after the bargaining process.

Karen is working on classifying all her company’s products in terms of whether they have strong or weak market share and whether this share is in a slow or growing market. what type of strategic framework is she using?

Match each economic concept with the scenarios that illustrates it