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Standard Costs and Ethics Ohio Apple Orchards (OAO), Inc., produces an organic, super-premium apple juice that it markets to specialty food outlets. OAO purchases its apples from a select group of farmers located in the Midwest. Recently, a graduate of the local university, Susanna Wu, joined the staff of OAO. Among Susanna's first responsibilities was the change to develop and implement a standard costing system for OAO, this in response to competition arising from new and aggressive entrants to the organic foods market. Susanna discussed her task with the controller of the company, Mary Whitman, who indicated that unrefined apple juice would cost $1.50 per liter, the price she intended to pay her col- lege pal, Bill O'Neal, who had since graduation been operating his own apple orchard at a loss. Because of favorable weather conditions during the most recent growing season, the price for comparable apple juice in the region has dropped to $1.10 per liter. Mary felt that the $1.50 price, if maintained throughout the current year, would be sufficient to make Bill's operation profitable-at last.
Required: Is Mary's behavior regarding the cost information she provided to Susanna ethical? Support your answer by reference to the Institute of Management Accountant's Statement of Ethical Professional Practice (www.imanet.org).
Scranton Company has three operating segments. The managers of each segment have decision-making authority regarding pricing, cost control and asset investment. The following information is available for the three segments for the third quarter of ..
Consider the above. Discuss the stance and initiatives of the Australian accounting profession on corporate social responsibility (CSR)Include your views on the role of accounting and the accountant on CSR.
give the following cost data costs per unit labor . 4 materials .5 fixed cost . 12000 determine the break even point
Mike is aware that you have some expertise in accounting information systems and has asked for your assistance to design a logical database structure for his business.
Do you believe that the leadership group of an organisation can have a significant impact on how a CSR agenda and its related activities are developed and implemented?
Wonder Enterprises uses a special scanner in its operations. Lately sales have increased to the point that it takes extra hours of overtime at night and on weekends to keep up with customer demand. Management is considering purchasing a new faster ..
How is managerial accounting working for planning and controlling? Point out any specific roles of managerial accounting compared with other organizations.
Pacheco, Inc., manufactures two products, overs and unders, in single process. The joint costs of this process were $50,000, and 14,000 units of overs and 36,000 units of unders were produced.
Suppose you have the following hypothetical demand or sales function. Calculate the income elasticity of demand for product X when I= $1,500. How could we classify product X? Is product X a cyclical or noncyclical good?
What relevant costs might you consider in deciding whether to accept the order at reduced selling price? What costs would you not consider when making your decision? Why are these costs not relevant?
Prepare a budget for 75 percent of its capacity - particulars are taken from the books of a factory working at 60% of its capacity:
Thomas Selling, an expert on nuclear strategy and arms control, examined in his book The Strategy of Conflict (Cambridge, MA: Harvard University Press, 1960), " The power to constrain the adversary depends on the power to bind oneself." Describe t..
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