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Complete a 1-2 page paper discussing the following ethical dilemma. The budget uses standards that are developed by management. These standards determine if a product is being produced according to the business plan. If the product is using more materials than planned, it will cause net income to decrease from the planned income. If labor hours being used are more but the budgeted rate is less than planned, the net income could increase from the planned income. Shelly is an accountant who determines the standards to be used for materials and labor. Shelly feels she understands the payroll rates much better than the payroll department. She has set a labor rate less than what has been suggested by the payroll department. Her attitude is that the skill of the worker should be less and she is trying to force management to see her point of view. At the end of the month, the total labor costs have a favorable variance. The labor rate is the reason for the variance. Is Shelly unethical in her actions? What could happen because of her actions?
The bonds mature on January 1, 2019. Solo paid $50,000 in bond issue costs. Solo uses straight-line amortization. The amount of interest expense for the year is:
What are some nonfinancial performance measures? What do they tell us about the performance of an organization? Why is it important for managers to include nonfinancial performance standards in their analysis of their operations?
electronic distribution has a defined benefit pension plan. characteristics of the plan during 2013 are as followsnbsp
rankine company estimates its bad debts expense by aging its accounts receivable and applying percentages to various
The company plans to sell 22,000 units of Product WZ in June. The finished goods inventories on June 1 and June 30 are budgeted to be 100 and 400 units, respectively. Budgeted direct labor costs for June would be:
Sandra Sherman incorporates her apartment building. It has a basis of $50,000, a value of $150,000, is subject to a mortgage of $70,000 and has a depreciation recapture potential of $12,000. If Sandra receives stock worth $80,000, she will recogni..
On March 1, 2010, Freeze Company hires a new employee who will start to work on March 6. The employee will be paid on the last day of each month. Should a journal entry be made on March 6? Why or why not?
This year the only significant expense that they incurred was an unreimbursed medical expense of $3,200. If Jon and Holly together have AGI of $42,000, what is the amount of their standard deduction this year?
The large trucks are expected to cost 600,000 and to have a four year useful life and a 60,000 salvage value. Calculate the present value index for each alternative.
Amber is in the process this year of renovating the office building (originally placed in service in 1976) used by her business.
Identify situations that might lead to unethical practices and behavior in accounting. Do you think the Sarbanes-Oxley Act has made a difference in the ethical behavior of companies regarding their financial accounting? Why or why not?
A manual insertion process takes 30 minutes and eight pounds of material to produce a product. Automating the insertion process requires 15 minutes of machine time and 7.5 pounds of material.
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