Prepare journal entries to summarize the 2017 transactions. as your final entry, dispose of the year-end under- or overallocated manufacturing overhead as a write-off to cost of goods sold. number your entries. explanations for each entry may be omitted.(record debits first, then credits. exclude explanations from any journal entries.) direct materials and supplies purchased on credit, $ 800.

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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.

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