WGU D427 DATA MANAGEMENT APPLICATIONS
EXAM 2024 QUESTIONS & CORRECT verified
ANSWERS GRADED A guaranteed pass
*If an incentive plan is to be successful, managers must start by paying close attention
to what aspect of performance? - If an incentive plan is to be successful, managers
must start by paying close attention to measurement of performance.
Measurement is the most important and most difficult part of an incentive plan.
Before you can reward employees for performance,
you have to determine how to measure employees' performance.
For example, if the company is going to reward employees for customer service, will
employees be measured on the basis of repeat business or customer satisfaction
surveys?
*Adina supervises several exempt employees.
Recently, one employee found themselves in the unique position of having to work long
hours to bring a new product to market on time and on budget.
What is the best way for Adina to reward this employee's recent behavior? - The best
way for Adina to reward this employee's recent behavior is to offer the employee lump
sum merit pay.
Since the employee's actions were nonstandard,
Adina should offer them lump sum merit pay,
while keeping their base salary the same.
Improshare is used for group incentives and there is no evidence that this employee's
position is in sales.
The standard time for producing one unit of work in a job paying $11.50 per hour is 12
minutes.
Given this information, what is the piece rate? - $2.30 is the piece rate given this
information in this situation,
as 1 hour (60 minutes) / 12 minutes = 5,
, and $11.50/5 = $2.30.
Under straight piecework,
employees receive a certain rate for each unit produced.
The piece rate is calculated by dividing the payment received per hour
by the number of units produced per hour.
*Hector, an experienced employee, spends several hours helping a new employee
solve a challenging problem and meet an important deadline. Hector then has to work
late into the evening to finish his own work. His supervisor acknowledges Hector's
actions and gives him a $100 gift card the next morning.
This is an example of a: - This is an example of a Spot Bonus.
A Spot Bonus is given "on the spot,"
normally for some employee's effort not directly tied to an established performance
standard.
*Which is a disadvantage of the straight commission plan? - A disadvantage of the
straight commission plan is that salespeople are tempted to grant price concessions.
The straight commission plan is easy to compute and understand, provides maximum
incentive, and encourages aggressive selling.
Which are 2 advantages of the straight commission plan? - The straight commission
plan is easy to compute and understand,
provides maximum incentive,
and encourages aggressive selling which might be needed in highly competitive
industries.
Gwen, a sign maker, is paid $15.75 an hour to produce 100 signs per day.
The standard time for producing one sign is 20 minutes.
Given this information, what is the piece rate? - $5.25
Gwen will make 3 units per hour, and the amount paid to her per hour is $15.75. The
piece rate will be calculated by dividing the payment received per hour by the number of
units produced per hour. Under straight piecework, employees receive a certain rate for
each unit produced.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller chareiezekiel. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $30.49. You're not tied to anything after your purchase.
