This is a three part question. You may want to jot down details of this case or
screenshot it to help you on the next two parts of the question.
Van Zandt Corp. reports $530,000 of pretax financial income in 2021, which
includes $50,000 of expenses for fines levied against the company for
OSHA workplace safety violations. These expenses are not tax deductible.
Because of the use of accelerated depreciation for tax purposes, taxable
income is $160,000 lower in 2021. This is Van Zandt's only temporary
difference, and it will reverse by $100,000 in 2022 and $60,000 in 2023.
The enacted tax rate is 25% for all years.
Required
a. Prepare Van Zandt's required journal entry for 2021 income taxes.
Answers
Here's the journal entry to be prepared for Van Zandt's required journal entry for 2021 income taxes: Particulars Debit Credit Income Tax Expense\(([$530,000 - $160,000] × 25%) 92,500\)Deferred Tax Liability\(([$100,000 ÷ (1 + 0.25)] + [$60,000 ÷ (1 + 0.25)²]).\)
93,812Income Tax Payable 186,312To record income tax expense and deferred taxes in 2021.The company has a temporary difference of $160,000,\) and due to the use of accelerated depreciation for tax purposes, the taxable income is \($160,000\) lower in 2021. The only temporary difference will reverse in 2022 and 2023 by $100,000 and \($60,000\), respectively. The enacted tax rate is 25% for all years.
The computation is as follows:Income tax expense = \(($530,000 - $160,000) × 25% = $92,500 \\= $100,000 ÷ (1 + 0.25) + $60,000 ÷ (1 + 0.25)² = $93,812.\)
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Related Questions
Celestial Insurance hires college graduates and prepares them for management careers. The human resource professionals who prepare the programs that teach leadership and business management to these employees are involved in which HR function?
Answers
Answer:
Development
Explanation: A P E X
The human resources profession are involve in development function of the employees.
The Human resources personnel is saddled with responsibility of overseeing process of recruitment, interview, and hire of new staff.
In every company, the Human resources personnel serves as a link between the management and its employees.
After the recruitment process of hiring an applicant, the HR Personnel also provide them with lectures on Leadership and Business management which will help them in their career development.
Therefore, in conclusion, the role performed by the HR personnel is known as Development function in the company.
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Suppose people from Virginia are more likely to lose expensive jewelry than people from Maryland. Specifically, there is an 80 percent probability that a person from Virginia will lose a $1,000 item of jewelry during a year, but only a 20 percent probability that a person from Maryland will. Assume that the population of Virginia and Maryland are the same.
1) If an insurance company that covers both Maryland and Virginia assumes that people in either state are equally likely to buy jewelry insurance, what will the actuarially fair insurance premium be?
2) If the utility of the people from Utah and Idaho is given by U(x)=ln(x) and they have current wealth of $10,000 each, will these individuals buy jewelry insurance at the actuarilly fair insurance premium?
3) Given your results in part 2, will the insurance premiums be correctly computed? If not, what should the premium be? What will the utility for each type of person be?
4) Suppose that an insurance company charged different premiums for people from Virginia and Maryland. How would these individuals' maximum utilities compare to those computed in parts 2 and 3 .
Answers
1) The actuarially fair insurance premium will be $320 for both Maryland and Virginia.
2) Individuals from Utah and Idaho will not buy jewelry insurance at the actuarially fair premium.
3) The insurance premiums will not be correctly computed; the premium should be lower than the actuarially fair premium to incentivize individuals from Utah and Idaho to purchase insurance, and their utility will be higher with insurance coverage.
4) If the insurance company charged different premiums for people from Virginia and Maryland, the maximum utilities of individuals from Virginia would be lower than those computed in parts 2 and 3, while the maximum utilities of individuals from Maryland would remain the same.
The actuarially fair insurance premium for both Maryland and Virginia would be $320. This means that on average, the insurance company expects to pay out $320 per policy in claims. It takes into account the higher likelihood of jewelry loss in Virginia (80%) compared to Maryland (20%).
Individuals from Utah and Idaho, with a utility function of U(x) = ln(x) and current wealth of $10,000 each, would not purchase jewelry insurance at the actuarially fair premium. The cost of the premium outweighs the expected utility gain from insurance coverage based on their utility function and current wealth.
The insurance premiums are not correctly computed because individuals from Utah and Idaho would not purchase insurance at the actuarially fair premium. To incentivize them, the premium should be lower. With insurance coverage, their utility would increase due to the potential protection against financial loss.
If the insurance company charged different premiums for people from Virginia and Maryland, the maximum utilities of individuals from Virginia would be lower than those computed in parts 2 and 3. However, the maximum utilities of individuals from Maryland would remain the same since their premium would still be the actuarially fair amount.
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Which of the following is FALSE? a. To reduce cannibalization among products, make the products more homogenous b. After acquiring a substitute product, raise prices on both the products c. After acquiring a complementary product, lower prices on both the products d. All of the above
Answers
Answer: c. After acquiring a complementary product, lower prices on both the products
Explanation: Market or product cannibalization is a loss in sales which occurs when a company introduces a new product that displaces one of its own older products. The cannibalization of an existing products leads to no increase in the company's market share despite sales growth for the new product. So what is best to be done here is to lower the prices on both products.
Over the past five decades, the U.S. economy has become. A.more closed. B.more open. C.less trade-oriented. D.more self-sufficient. more open.
Answers
Over the past five decades, the United States economy has become more open. Option B is answer.
The growth of international trade, advances in technology, and the reduction of trade barriers have all contributed to this trend. The country has shifted from being a relatively closed economy to being one that is highly integrated into the global market. This shift has brought both benefits and challenges, as businesses have been able to access new markets and consumers, but have also faced increased competition from foreign firms. However, overall, the trend towards a more open economy has been seen as positive for growth and prosperity.
Option B is answer.
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Una señora compra 100 pantalones y 100 camisas, los pantalones le cuestan $5. 00 cada uno y las camisas a $ 3. 00 cada una, paga de transporte $ 10. 00 de local $ 100. 00 mensual, de mano de hora $365. 00 mensual en cuanto venderá cada uno de los pantalones y las camisas, hacer el cálculo respectivo
Answers
It is unclear what is meant by "$365 per hour. 00 monthly". If it means that the lady incurs a monthly cost of $365.00 per hour that she spends selling the clothes, then we would need to know how many hours she spends selling the clothes in order to calculate her total cost and profit.
Let's calculate the total cost of the pants:
100 pants * $5.00/pant = $500.00
And the total cost of the shirts:
100 shirts * $3.00/shirt = $300.00
The total cost of the clothes is the sum of the cost of the pants and shirts:
$500.00 + $300.00 = $800.00
Adding the cost of transportation, we get:
$800.00 + $10.00 = $810.00
The lady also incurs a monthly cost of $100.00, so her total cost for the month is:
$810.00 + $100.00 = $910.00
Assuming the lady sells each pant and shirt for the same price, she would need to sell each item for:
$910.00 / 200 items = $4.55 per item
If the lady sells each item for $4.55, her revenue would be:
200 items * $4.55/item = $910.00
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Note:- Question in English
A lady buys 100 pants and 100 shirts, the pants cost her $5. 00 each and the shirts $3.00 each, she pays $10.00 for transportation, $100.00 locally, monthly, and $365 per hour. 00 monthly as she will sell each of the pants and shirts, do the respective calculation.
rashi is a student at state university. in need of funds to pay for tuition and books, rashi asks tiempo loans, inc., for a short-term loan. the lender agrees to make a loan if rashi will have someone who is financially responsible guarantee the loan payments. umberto, a well-known business person and a friend of rashi's family, calls tiempo and agrees to pay the loan if rashi cannot. because of umberto's reputation, the loan is made. rashi is making the payments, but because of illness he is unable to work for one month. he asks tiempo to extend the loan for three months. the lender agrees, raising the interest rate for the extended period. umberto is not notified of the extension (and thus does not consent to it). one month later, rashi drops out of school. all attempts to collect the remainder of the loan from rashi fail. can tiempo assert a claim against umberto on the debt?
Answers
No, Tiempo Loans, Inc. cannot assert a claim against Umberto on the debt because Umberto was not notified of the loan extension and did not consent to it.
Tiempo Loans, Inc. cannot hold Umberto liable for the debt because Umberto was not notified of the extension of the loan and did not consent to it.
The guarantee Umberto provided was specifically for the original loan agreement, and any changes or extensions made to the loan terms would require his consent. Since Umberto was not informed about the loan extension and did not agree to it, he cannot be held responsible for the debt.
Tiempo Loans, Inc. cannot seek repayment from Umberto for the remaining loan amount. The lender's agreement to extend the loan and raise the interest rate without Umberto's knowledge or consent does not create a valid claim against him. Rashi, as the borrower, remains primarily responsible for the debt, and Tiempo Loans, Inc. should focus its collection efforts on Rashi instead.
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______ Is a market in which a large number of suppliers compete with each other to satisfy the needs and wants of a large numbers of consumers at a competitive price.???
Answers
Answer : Monopolistic competition
Answer:
Monopolistic Competition
Explanation:
In a monopolistic competitive market, there are large numbers of sellers who do not sell identical products instead they sell differential products. They compete with each other at a competitive price. The products could be differentiated in many ways including quality, style, location and even brand name. Since they compete at a competitive price, if there is a substantial rise in the price of any of the products, the buyers could quickly shift from one product to another. The most crucial factor behind product differentiation is because of geographical factors. Under a monopolistic competitive market, the sellers do not have any influence over customer loyalty and limited control over the price.
3. The owner of a specialty delicatessen buys baskets, decorates and fills them with food items, and
sells them as one of the products in the shop. The entrepreneur sells an average of 130 baskets a
month The basket supplier charges $0.50 per basket. The entrepreneur would like to reduce his
variable costs and has found a basket supplier who will charge only $0.40 per basket. How much
will the delicatessen owner save in a year by changing suppliers?
Answers
Answer:
$156
Explanation:
he old price per basket is $0.50 per basket
the new supplier has a price of $0.40 per basket
Savings per basket is $0.10 ($.50- $0.40)
The average sales per month are 130 baskets.
The average savings per months will be
=$0.10 x 130
=$13
yearly savings will be
=$13 x 12 months
=$156
What are the 3 economic questions about production and distribution of resources that each nation must address?
Answers
Any method of allocating limited resources is an economic system. Three fundamental problems are addressed by economic systems: what will be produced, how will it be produced, and how will society distribute the output it generates?
These queries can be answered in one of two ways, at either extreme. The government makes judgments in command economies about the distribution of resources as well as the distribution of production and consumption. Markets are used to organize the factors of production and consumption in market economies, when private ownership of resources is established through property rights. In a market economy, resources are distributed according to the most productive usage by market pricing.
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I need to find the social security and Medicare. Please let me know how you got your answer as well!
Answers
Answer:
See below
Explanation:
Social security and medicare per period
1. Otto:
Pay per period = 76,432/ 12
=6,369.33
social security = 6.2% of 6,369.33
=6.2 /100 x 6,369.33
=394.898
=394.9
medicare = 1.45 % of 6,369.33
=1.45/100 x 6,369.33
=92.355
=92.36
2. G. Hernandez :
Pay per period= 43,902 / 26= 1,688.54
social security =6.2% of 1,688.54
=6.2/100 x 1,688.54
=104,689
=104.69
medicare=1.45 of 1,688.54
=1.45/100 x 1,688.54
=24.48
A.Toms:
Pay per period = 20,235 /12 =1,686.25
social security = 6.2 % of 1,686.25
=6.2/100 x 1,686.25
=104.55
Medicare = 1.45 % of 1,686.25
=1.45/100 x 1,686.25
=24.45
To examine
the weekly payroll of all employees, one would look at the:
Answers
To examine the weekly payroll of all employees, one would look at the: d. payroll register.
What is the payroll register?The payroll register is a book or record that is used to fill in the details of all the employees and their payment logs. A record of this register is often kept in good condition in case of any future discrepancies that will have to be resolved.
A person who wants to examine the weekly payroll of all employees in an organization must be able to look at the payroll register to know what is obtainable. There, he would find the names of the employees, their job roles and payment record.
Options:
a. W-4
b. employee earnings record
c. W-2
d. payroll register.
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The shelf life of milk is 7 days. You have 22 gallons on hand. You normally sell 4 gallons each day. Do you expect to have to throw out any milk?
Answers
Explanation: You will throw away no gallons of milk because if you sell 4 gallons every day then 7 times 4 equals 28 so you will only work for 5 an a half days.
Answer:
B
Explanation:
Find a product demonstration that educates people about a particular product. Describe that demonstration. Evaluate the demonstration by explaining whether it educated you about the product or simply tried to persuade you to buy the product.
Now, design your own product demonstration about a product you would like to investigate.
Answers
Answer:Dawn dish washing liquid has an ad that demonstrates how the product was used to clean the ducks and other wildlife that I had wheels stuck on their feathers after the gulf coast oil spill. It showed how the soap was strong enough to remove harmful oil, but gentle enough that it didn’t harm the delicate birds. This demonstration was highly effective because it educated the consumer on different ways to use Dawn dishwashing liquid
Explanation:
Which of the following is most likely to represent a fixed rate, secured debt?
1) A student loan
2) A credit card
3) A loan from a friend
4) A dealer-financed auto loan
Answers
Answer:
4) A dealer-financed auto loan
Explanation:
A fixed-rate means the interest rates are constant as opposed to variable interest rates. Fixed-rate means the monthly repayments will be a constant and predictable figure every month.
Secured debt refers to a loan that is backed by collateral. The borrower has offered as an asset to the lender as a guarantee that they will pay the debt.
A dealer financed auto loan is most likely to be with a fixed rate and secured. The car being bought on loan acts as the collateral for the loan. Dealers usually insist on fixed interest rates.
Student loans, credit card loans are unsecured loans. A loan from a friend is unlikely to be secured and with a fixed interest rate.
Kaylee’s customers seem to be buying less of her freshly baked breads and more of her yogurt parfaits and coffees. She begins to ask customers at the checkout why they made their selection. She learns that many of her customers are choosing a gluten-free diet. She changes her breads and now is selling gluten-free breads and most days sells out. Kaylee used
Answers
Answer:
The question is incomplete, below is the complete question:
Kaylee's customers seem to be buying less of her freshly baked bread and more of her yoghurt parfaits and coffees. She begins to ask customers at the checkout why they made their selection. She learns that many of her customers are choosing a gluten-free diet. She changes her bread and now is selling gluten-free bread and most days sells out. Kaylee used A) feedback. B) input. C) output. D) a transformational process. E) complexity theory.
Answer:
The correct answer is:
feedback (A)
Explanation:
In a transformational process flow of a business, feedback refers to using information gathered from internal and external sources, to determine the adjustments of certain inputs, leading to a transformational process that produces the desired output. Internal sources of feedback include testing and evaluation, while external feedback sources include consumers or suppliers
Last week Sarah Carver worked 4 overtime hours at time-and-a-half pay. Her
regular pay rate is $8.70 per hour. What was her overtime
pay for the week
Answers
Answer:
34.80
Explanation:
8.70 times 4 is 34.80
Answer:
69.60
Explanation:
8.70 x0.5 = 17.4
17.4 is time and a half rate
17.4 x 4 = 69.60
4 is the hours she worked.
the graph above reflects a significant increase in world oil prices. what will the impact on aggregate supply most likely lead to?
Answers
Since the graph reflects a significant increase in world oil prices, the impact on aggregate supply will result in an increase in input prices.
It should be noted that an increase in the prices of oil will affect the aggregate supply. The aggregate supply simply means the total supply of goods and services that are produced in an economy at a particular period.
The impact on aggregate supply most likely leads to an increase in the prices of inputs. Since there's a rise in prices of world oil, it'll lead to inflation and hence result in an increase in input prices.
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in a market economy, there is relationship between the price of a good and the amount of a good that buyers are willing and able to purchase.
Answers
In a market economy there is a inverse relationship, between the price of a good and the amount of a good that buyers are willing and able to purchase.
What is a market economy?It is an economic system in which production and prices are determined by unrestricted competition between privately owned businesses.
According to the Law of Demand, there is an indirect relationship between a good's or service's price and the quantity of that good or service that consumers are willing and able to buy. In other words, as a product's price rises, buyers become less willing and able to purchase it, and vice versa.
Therefore, there is a inverse relation between price and the quantity demanded.
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Oreo cookies are now extremely expensive to purchase. Instead of buying oreo cookies, i now want to buy chips ahoy. What determinant of demand does this likely fall under?.
Answers
In economics, the determinant of demand that this scenario fall under , when you go for chips ahoy because Oreo cookies are now extremely expensive is Change in Price of Substitute Good.
What is Substitute Good?
A substitute good can be regarded as product or service that is been used as alternative for other goods.
It should be When the price of a substitute good rise, then demand for the other substitute as well will rise.
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when business owners look at leading economic indicators, they generally are doing this to help predict what will happen over the following___
three to nine weeks
there to six years
six to nine months
three to six months
Answers
maya has always worked at a very fast pace and she tends to be a perfectionist. when she was promoted to manager she found that she was constantly disappointed with her team's performance because they didn't work fast enough or at the level that she wanted. what leadership style does maya have?
Answers
The main answer to your question is that Maya's leadership style appears to be authoritative.
This is because she values speed and perfection, which can often result in a need for control and high expectations of her team. Her disappointment with her team's performance suggests that she may not be allowing them enough autonomy to work at their own pace and in their own way.
it's worth noting that authoritative leadership can be effective in certain situations, such as when a team is inexperienced or lacks direction. However, it can also have negative consequences if team members feel micromanaged or are unable to contribute their own ideas and skills. Maya may benefit from exploring other leadership styles, such as democratic or transformational, which emphasize collaboration and empowerment rather than control. This could help her build a stronger and more effective team while still achieving high standards of performance.
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a recommended leadership strategy for enhancing creativity and innovation is to
Answers
Encourage a culture of psychological safety and openness.
Psychological safety is the belief that one can express oneself without fear of negative consequences to self-image, status, or career. Encouraging a culture of psychological safety and openness is a recommended leadership strategy for enhancing creativity and innovation. Leaders can create this environment by being supportive and non-judgmental when employees share their ideas and concerns. This creates a space where employees feel comfortable taking risks and being creative without fear of negative feedback or punishment.
This allows for open communication, feedback, and learning from failures, which can lead to new and innovative ideas. Additionally, leaders should encourage collaboration and teamwork by creating cross-functional teams and allowing individuals to work on projects outside of their usual roles. These approaches can promote creativity and innovation by enabling individuals to draw on diverse perspectives and skill sets.
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A junior-level officer in a company is hoping for a promotion this year. He understands that only his reporting manager can recommend him for the promotion. Therefore, he starts to flatter his manager and praise his efficient operational methods. In the context of attraction, the junior-level officer is most likely exhibiting ________ in this scenario.
Answers
According to the given promotion situation, the junior-level officer is most likely exhibiting ingratiation in this scenario. So, ingratiation is the correct answer.
What is ingratiation?Ingratiating is a psychological method in which a person tries to influence someone else by being more pleasant to them.
Flattery, complying with the supervisor's opinion, and giving favors are all examples of ingratiation. Self-promotion entails accepting credit for accomplishments, bragging about accomplishments, and emphasizing links to other influential people.
Here, a Junior-level officer begins to flatter his boss and compliment his effective operating tactics on the exhibition of ingratiation.
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During January, Ajax Co. Incurs 1,850 hours of direct labor at an hourly cost of $11.80 in producing 1,000 units of its finished product. Ajax standard labor cost per unit of output is $22 (2 hours x $11.00). Compute the total, price, and quantity labor variances for Ajax Co. For January. Identify whether the variance is favorable or unfavorable?
Answers
Answer:
Std rate per hour: 11.00
Std hours = 1000*2 =2000
Actual hours = 1850
Actual rate = 11.80
Labor cost variance = Std cost - Actual cost
Labor cost variance = (2000*11) - (1850*11.80)
Labor cost variance = 170 Unfavorable
Labor rate variance = Actual hrs (Std rate - Actual rate)
Labor rate variance = 1850 *(11-11.80)
Labor rate variance = 1480 Unfavorable
Labor qty variance = Std rate (Std hrs-Actual hrs)
Labor qty variance = 11 (2000-1850)
Labor qty variance = 1650 Favorable.
____ is the measure of how long a product last
Answers
Answer:
This can be a varied answer, what are the options?
Explanation:
Answer: Consumability
Explanation:
Please please please help me I don’t know please someone help me. The subject is math
Answers
Answer:
The answers are already there
Explanation:
If you want to know how to do it:
How to calculate percentage:
[From decimal]
Decimal x 100 = percentage
e.g. 0.2 x 100 = 20%
[From fraction]
Numerator / Denominator x 100 = percentage
top number / bottom number x 100 = percentage
e.g. 3/5 --> 3 / 5 x 100 = 0.6 x 100 = 60%
How to calculate decimal:
[From percentage]
Percentage / 100 = Decimal
e.g. 45% / 100 = 0.45
[From fraction]
Numerator / Denominator = Decimal
top number / bottom number = Decimal
e.g. 7/8 = 7 / 8 = 0.875
How to calculate fraction:
[From percentage]
Percentage number / 100 --> simplify
e.g. 38% --> 38/100 --> 19/50
[From decimal]
Decimal x 100 / 100 --> simplify
e.g. 0.75 --> 0.75 x 100 = 75 --> 75/100 --> 3/4
Hope this helps :)
This is accounting. HELP PLEASE I'M BEGGGING
How does GAAP help businesses internally?
A. it assists taxing authorities on how much to tax them.
B. It gives imvesters a better idea on the progress of a business.
C. It helps managers improve analyis an make strategic decisions.
D. It helps suppliers know they will receive the money they owe.
Answers
Answer:
I believe the answer is B
Explanation:
Real GDP, unemployment, and ____ are the main statistics used by economists to assess the health of the economy.
Answers
Real GDP, unemployment, and inflation are the main statistics used by economists to assess the health of the economy.
What are the three measures of a healthy economy?
Once upon a time, the inflation rate, unemployment rate, and growth rate of the gross domestic product were the three main indicators of economic health that could be used to determine the state of the economy.
Why does inflation occur?
The rate of price growth over an extended period of time is known as inflation. The cost of living in a nation has increased, or prices have generally increased.
These are examples of broad measures of inflation. As household incomes improve as a result of more jobs and higher earnings and an increase in consumer spending, the potential for price increases by businesses to raise the cost of their goods and services increases.
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What are the costs associated with workplace bullying? What
actions can employees and managers take to control workplace
bullying?
Answers
Workplace bullying has health, morale, team dynamics, and reputation impacts. Control it through awareness, policies, culture, leadership support and intervention.
Workplace bullying carries significant costs that affect individuals and organizations. The health impacts of bullying can lead to increased stress, anxiety, and physical health issues, resulting in higher absenteeism, reduced productivity, and healthcare costs. Bullying also erodes employee morale and engagement, contributing to decreased job satisfaction, higher turnover rates, and difficulty in attracting and retaining talent. Team dynamics and collaboration suffer as bullying disrupts relationships, hampers teamwork, and stifles innovation and cooperation.
To control workplace bullying, employees and managers can take proactive actions. Increasing awareness through education and training helps individuals recognize and address bullying behaviors. Establishing clear policies against bullying and providing confidential reporting mechanisms encourage reporting and investigation. Promoting a positive work culture based on respect, inclusivity, and open communication fosters a supportive environment. Encouraging bystander intervention and offering support services like counseling or mediation further contribute to controlling workplace bullying. By implementing these strategies, employees and managers can work together to create a healthier, more productive, and inclusive work environment.
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because of automation, which component of product cost is declining?