iii. Remuneration vs. Recruitment Remuneration* is the total compensation, including salary, wages, benefits, and other rewards, an employee receives for their work. Recruitment* is the process of attracting, screening, and selecting qualified candidates from the external and internal labor markets to fill job vacancies within an organization. iv. On the job training vs. Off the job training On the job training* is a method of training employees while they are actively performing their job duties, often under the guidance of an experienced colleague or supervisor. Off the job training* is a method of training employees away from their regular work environment, typically in a classroom, seminar, or specialized training facility. vi. State and explain four (4) types of remunerations offered by an employer to the employees Wages: Payments made to employees, usually on an hourly or daily basis, for manual or unskilled labor. Salaries: Fixed regular payments, typically paid monthly or bi-weekly, to employees for professional or managerial work, regardless of the number of hours worked. Commissions: Payments made to employees, often sales staff, as a percentage of the sales they generate. Bonuses: Additional payments given to employees as a reward for good performance, achieving targets, or as a share of company profits. Benefits: Non-cash forms of compensation, such as health insurance, retirement plans, paid time off, and company cars, provided to employees in addition to their direct pay. --- 5. KANOCO Enterprise - Branch A Calculation Given information for KANOCO: Fixed cost for the enterprise = 5000 FRS (This is an overall enterprise fixed cost, not specific to Branch A's direct operations for profit calculation). Selling price per unit = 1000 FRS Variable cost per unit = 600 FRS Information for Branch A: Sales = 350 units at 1000 FRS each Cost of material = 20000 FRS Salary of sales agent = 30000 FRS Transport expenses = 10000 FRS Step 1: Calculate Total Revenue for Branch A. $$ \text{Total Revenue} = \text{Sales units} \times \text{Selling price per unit} $$ $$ \text{Total Revenue} = 350 \text{ units} \times 1000 \text{ FRS/unit} $$ $$ \text{Total Revenue} = 350,000 \text{ FRS} $$ Step 2: Calculate Total Variable Cost for Branch A. $$ \text{Total Variable Cost} = \text{Sales units} \times \text{Variable cost per unit} $$ $$ \text{Total Variable Cost} = 350 \text{ units} \times 600 \text{ FRS/unit} $$ $$ \text{Total Variable Cost} = 210,000 \text{ FRS} $$ Step 3: Calculate Total Direct Fixed Costs for Branch A. $$ \text{Total Direct Fixed Costs} = \text{Cost of material} + \text{Salary of sales agent} + \text{Transport expenses} $$ $$ \text{Total Direct Fixed Costs} = 20,000 \text{ FRS} + 30,000 \text{ FRS} + 10,000 \text{ FRS} $$ $$ \text{Total Direct Fixed Costs} = 60,000 \text{ FRS} $$ Step 4: Calculate Profit for Branch A. $$ \text{Profit (Branch A)} = \text{Total Revenue} - \text{Total Variable Cost} - \text{Total Direct Fixed Costs} $$ $$ \text{Profit (Branch A)} = 350,000 \text{ FRS} - 210,000 \text{ FRS} - 60,000 \text{ FRS} $$ $$ \text{Profit (Branch A)} = 140,000 \text{ FRS} - 60,000 \text{ FRS} $$ $$ \text{Profit (Branch A)} = 80,000 \text{ FRS} $$ The profit for Branch A is $\boxed{\text{80,000 FRS}}$.