Explain the Markov models of forecasting human resource needs.
What will be an ideal response?
Markov models enable managers to forecast flows to and from various positions based on the past probabilities of such changes. These probabilities are arranged in a table known as a “transition matrix.” In such a table, the rows generally represent the positions of personnel at time 1; and the columns, the positions at time 2. The period of analysis usually is one year, and the transitions used vary from job, grade, department, or some combination. The data in a transition matrix are generally gathered over a period of several years to determine the stability of the probabilities. The staffing levels at the end of the next year may be multiplied by the probabilities of various transitions to obtain a forecast for the following year.
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The amount of federal income taxes withheld from an employee's gross pay is recorded as a(n)
a. payroll expense b. contra account c. asset d. liability
The Designer Company issued 10-year bonds on January 1 . The 6% bonds have a face value of $800,000 and payinterest every January 1 and July 1 . The bonds were sold for $690,960 based on the market interest rate of8%. Designer uses the effective interest method to amortize bond discounts and premiums. On July 1, of the firstyear, Designer should record interest expense (round to the nearest
dollar) of a. $27,638 b. $24,000 c. $48,000 d. $55,277
List the three levels of management in the traditional pyramid. Give an example of a task that a manager at each level might perform.
What will be an ideal response?
Product costs could be found on both the balance sheet and the income statement
Indicate whether the statement is true or false