On November 21, 2012 Hostess Brands announced it had not reached an agreement with the Bakery, Confectionary, Tobacco Workers and Grain Millers Union and the Bankruptcy court had approved a shutdown of the company (hostessbrands.com). All that is required to be a part of the BCTGM Union is to have a majority of employees authorization cards turned in to determine the want for the Union to be a part of the company. Hostess Brands, a maker of American breads and treats, in business since 1930 with over 18,000 workers is now in the process of closure after talks with the BCTGM Union failed and workers had walked off the job stopping production. A union bargain is normally conducted through a process of collective bargaining, collective bargaining is a process between the company and the representatives of the employees through the union to negotiate wages, benefits and working conditions (businessdictionary.com, 2013) When this process fails the fallout is often costly and results in lost sales and possibly going out of business as was the case with Hostess Brands. In collective bargaining the Union and the company come to an agreement on specific terms on the table and sign an agreement keeping the terms in place for a specific amount of time before the terms need to be negotiated again. The benefits for employees to have a union is the union provides a representative who listens to the employees wants, needs and desires and works with the company to see that these goals are attained or some type of fair agreement is met. The organization has the benefit of working with the union as one voice of the employee instead of several voices all saying different needs. The company can
ACCOUNTING 101 Assignment 02 QUESTION 1: PLANNING AND CONTROLLING (a) Cost to Make: Direct Materials $3.61 Direct Labour $2.47i Variable Overhead $0.52ii Fixed Overhead: Depreciation of Equipment $2.10iii Cost per Container $8.70 i Direct labour is reduced by 35% because the new equipment is more efficient. Direct Labour = $3.80 x 0.65 = $2.47 ii Variable overheads is reduced by 35% because the new equipment is more efficient. Variable Overhead = $0.80 x 0.65 =…
Curtiss Construction Company, Inc., entered into a fixed-price contract with Axelrod Associates on July 1, 2013, to construct a four-story office building. At that time, Curtiss estimated that it would take between two and three years to complete the project. The total contract price for construction of the building is $4,000,000. Curtiss appropriately accounts for this contract under the completed contract method in its financial statements. The building was completed Curtiss Construction Company…
1. Requirement information about Deduction Expenses incurred by taxpayers in gaining or producing assessable income may be deducted against that income to reduce the taxpayer's final tax liability. (Note 1: not put taxpayer in a position to gain or produce assessable income.) - may be deductible immediately under the general deduction provision in S 8-1 (C12) - or under a specific deduction provision S 8-5 (C13) - Capital expenses that are not immediately deductible may be deductible over a…
Part A: The concept of reporting entity: The reporting entity concept was established in Australia because of publication of Statement of Accounting Concept SAC 1[ Definition of the reporting entity (August 1990)]. According to SAC1, a reporting entity is an entity in respect of which it is reasonable to expect the existence of users dependent on general purpose financial reports for information which would be useful to them in making and evaluating decisions about the allocation…
Introduction: This report will be analysing the profitability of the Active Sports business in regards to the financial performance for the month of January. The report will go in depth on how the business performed through the use of financial reports such as the balance sheet, profit and loss statement, accounts payable and receivable and inventory item history. In the second part of the report, there will be recommendations that Active Sports can implement to increase the business profitably and…
Colleen Cox UA Reflection Essay Accounting 221- Fall 2013 (Beth Killy) December 6th, 2013 1. The objectives that I had for being an undergraduate assistant for Accounting 221 were to accurately take the daily attendance, monitor electronic device usage, and help the professor proctor mid-term exams. My goal in completing these objectives was to gain more responsibility through taking attendance and proctoring exams, as well as be fair in monitoring the usage of electronic devices. I wanted to be…
Alternative: One alternative Old Mule Farms can choose is doing nothing, and just remain what they did in the past. Right now Old Mule Farms tried to minimize their expense. They sold some of their land to generate funds to cover operating cost; they rented pasturage to feed their cows; they basically focused on feeding heavier cows in order to get heavier calves, and then can generate more revenue. They also provide dietary supplements and minerals to maintain calves’ health and productivity. Old…
Introduction In nowadays tide economic situation it is became more than hard for graduated students and even professionals to ensure they will find a suitable job and keep it for long. Many people are forced to stay in job they don’t like or that is not aligned with their education background just to survive and to be able to meet their basic needs. In light of this reality I decide to create my own business in partnership with a former colleague. The business name is Talent Source located in Baltimore…
ACCT2213/2189 Accounting in organisations and Society Assignment - Melbourne semester 1 2015 This assessment is to be submitted via Blackboard REQUIRED: This assessment needs to be submitted via Blackboard, no submissions will be taken in class or via any other means. A non-submission will result in a grade of zero (0) All answers need to be recorded in Blackboard The questions following give an indication as to the mode of answer that is to be given in blackboard. You will only be able…
Content Content 1 1.0 Work out Capital 2 2.0 Worksheet 3 3.0 Advise report for Sally 4 4.0 Worksheet continues 5 5.0 Financial statements 6 A. An Income Statement for the period 1 February to 31 March 2015 6 B. A Statement of Changes in Equity for the period 1 to 31 March 2015 7 C. A classified Balance Sheet as at 31 March 2015 8 6.0 Suggestions for Sally 9 Reference: 10 1.0 Work out Capital Work out Capital as at 1 February 2015 Capital at 1 February 2015 Asset = Cash +Date of Birth…