User Account

All Pages

Imas statement of ethical practice

Assignment Help Cost Accounting
Reference no: EM13505383

Question #1

List and describe the four standards in the IMA's Statement of Ethical Practice. As part of your answer, be sure to provide an example of an action that violates the standard.

Question #2

Consider the following information, prepared based on a monthly capacity of 50,000 units:

Category

Cost per Unit

Variable manufacturing costs

$12.00

Fixed manufacturing costs

$1.00

Variable marketing costs

$3.00

Fixed marketing costs

$2.00

Capacity cannot be added in the short run and the firm currently sells the product for $20 per unit.

Consider each of these scenarios independent of each other.

a) The company is currently producing 50,000 units per month. A potential customer has contacted the firm and offered to purchase 10,000 units this month only. The customer is willing to pay $18 per unit. Since the potential customer approached the firm, there will be no variable marketing costs incurred. Should the company accept the special order? Why or why not? Be specific.

b) The company is currently producing 40,000 units per month. A potential customer has contacted the firm and offered to purchase 10,000 units this month only. Since the potential customer approached the firm, there will be no variable marketing costs incurred. What is the minimum amount that the firm should be willing to accept for this order?

Reference no: EM13505383

Questions Cloud

Evaluate w (in kj) when 415 g iron (iii) oxide : Calculate w (in kJ) when 415 g iron (III) oxide (MM = 159.7 g/mol) reacts with excess carbon to produce carbon dioxide gas at 464 K:
How far along inclined plane will combined system travel : A m = 2.6 kg object moving at v = 16 m/s collides with a stationary 2.0 kg object, how far along the inclined plane will the combined system travel
When the effective interest rate is higher : When the effective interest rate is higher than the stated interest rate, will interest expense be higher or lower than the amount of interest paid?
Explain the ph of a buffered solution saturated with h2s : what must be the pH of a buffered solution saturated with H2S ([H2S]=0.10M) be in order to precipitate PbS leaving [Pb2+]=1*10^-6M without precipitating any MnS
Imas statement of ethical practice : Ddescribe the four standards in the IMA's Statement of Ethical Practice. As part of your answer, be sure to provide an example of an action that violates the standard.
Explain the reaction of p-methylbenzoic acid with lialh4 : Draw the organic product(s) of the reaction of p-methylbenzoic acid with LiAlH4, then H3O+ in the window below. If no new products are formed, tell OWL by drawing ethane, CH3CH3.
What is the present value : What is the present value (rounded to the nearest dollar) of an annuity of $25,000 per year for five years if the interest rate is.
What is the difference between gross pay and net pay : What is the difference between gross pay and net pay? Which amount should a company record as wages or salaries expense?
Find out whether the solution formed from salt : Determine whether the solution formed from the following salts will be acidic, basic or neutral. Write equations for hydrolysis.

Reviews

Write a Review

Cost Accounting Questions & Answers

  Questionq suppose u borrow rs 5 lakh 4 ur colege year the

questionq. suppose u borrow rs. 5 lakh 4 ur colege year. the loan wil b paid off over 5 yrs. the loan carries 8 annual

  Fifo cost flow assumption for finished goods inventory

Direct material usage budget and direct material purchases budget and manufacturing overhead cost budgets for each of the three activities

  Calculate the unit manufacturing cost of the standard

Calculate which product is over cost and which is under cost by using direct-labor hours as an application base and explain if it is possible that this over costing and under costing is responsible for the profit issues the company is facing.

  Characteristics of not-for-profit

Characteristics of not-for-profit and governmental entities

  Learning objectives this case involves four of the major

learning objectives this case involves four of the major learning objectives of a typical accounting information

  Testing and evaluation of internal control

Why is a code of conduct important? What should it contain and in the long run, many agencies will adopt an automated tool to assist in the documentation, testing and evaluation of internal control. Why is that?

  Compute gross margin percentages for extreme chocolate

Allocate the joint costs to Extreme Chocolate and Very Strawberry under the methods and compute the gross margin percentages for Extreme Chocolate and Very Strawberry under each of the methods in requirement 1.

  Identify characteristics of a corporation

Identify characteristics of a corporation, record issuance of stock, and illustrate retained earnings transactions and prepare and analyze the income statement, balance sheet, and statement of cash flows

  What fringe benefits escape limitation

What adjustment is required regarding Paul's purchase of the partnership interest? Must a section 754 election be made?

  Prepare the companys direct labor budget

Prepare the companys direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. (Omit the "$" sign i..

  Should furniture company hand customers a form 1099- misc

Was the free furniture in the form of a discount or rebate taxable, or should the furniture company hand the customers a Form 1099-MISC?

  Discuss and describe whether betty get out of this contract

Discuss and describe whether Betty get out of this contract? You must examine each element of a valid contract in your discussion along with any exceptions

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

Submit Assignment

Academics

Major Subjects

Majors

Get In Touch

whatsapp: +1-415-670-9521

Phone: +1-415-670-9521

Email: [email protected]

TERMS & POLICIES

HELP & SUPPORT

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd