Question 7

mith Manufacturing Company allows employees to purchase materials, such as metal and limber, for personal use at a price equal t

Yanka [14]

Answer:

Brain didn't act ethically and didn't follow IMA's principles of ethical conduct.

IMA's 4 principles are:

Competence: this refers to basically acting and performing in a professional manner. Brian didn't act professionally since he intentionally miscalculated the price of lumber in order to get the lowest possible cost.
Confidentiality: refers to keeping information to yourself, i.e. do not tell outsiders about the specifics of your job. This principle was not an issue here.
Integrity: refers to avoiding conflicts of interests. Obviously Brian didn't follow this principle since he is taking advantage of the company's policy and acting unfairly.
Credibility: refers to information and all the respective analysis being correct and true. Since Brian is deliberately cheating on the company, he is not using the correct information on purpose and is lying.

5 0

2 years ago

Yogi expects to produce 1 comma 700 units in January and 2 comma 180 units in February . The company budgets 3 pounds per unit o

algol [13]

Answer and Explanation:

The Preparation of Yogi 's direct materials budget for January and February is shown below:-

Direct material budget

Two months ended Jan 31 and Feb 28

January February

Budgeted units to be produced a 1,700 2,180

Direct material pounds per unit b 3 3

Direct materials needed for

production (c = a × b) 5,100 6,540

Add: Desired direct material

in ending inventory (pounds) d 3,060 4,300

(5,100 × 0.6)

Total direct materials needed 8,160 10,840

(e = c + d)

Less: Direct material beginning in

inventory(pounds) f 5,200 3,060

Budgeted purchase of direct

material g = e - f 2,960 7,780

Direct material cost per pound h $15 $15

Budgeted cost of direct material

purchases i = g × h $44,400 $116,700

5 0

2 years ago

It is the end of the year and holiday sales are beginning. To remain competitive the manufacturers of ice scrapers for cars run

Alika [10]

Answer:

The correct answer is (b)

Explanation:

Sale promotion is an effective way to improve short-term sales and at the same time attract new potential buyers. Ice scrapers sale promotion strategy will help them to increase their sales revenue. As they are offering buy two get one free sale on black Friday the overall prices will decrease that will increase the demand.

6 0

2 years ago

Seaside Developments Inc. has $200,000 of no par value 4% cumulative preferred shares, and 12,000 shares of no par value common

fiasKO [112]

Answer: a. $18,000

Explanation:

Cumulative Preferred Shares are shares where the company will always pay Preferred dividends and in years they cannot, they accrue it till a time when they can.

In the above question the dividends due to Preferred Shares are,

= 4% * 200,000

= $8,000

In Year 1, $8,000 were declared as dividends.

= 8,000 - 8,000

= 0

This means that the company does not owe preferred dividends from Year 1.

In Year 2, $18,000 was declared as dividends,

= 18,000 - 8,000

= $8,000

This means that in Year 2, the company was able to pay off Preferred dividends and still have some left to pay off Common Shareholders.

In Year 3, $24,000 was declared as dividends.

= 24,000 - 8,000

= $16,000

In year 3 as well, tue company had enough to pay off it's Preferred Dividend obligations meaning that it paid off all of it.

In Year 3 therefore, Preferred Shareholders got the entire $8,000 that was due to them.

6 0

2 years ago

To increase tax revenue, the U.S. government imposed a 2-cent tax on checks written on bank account deposits in 1932 (in today's

Virty [35]

Answer:

b. Under this check tax, the money supply would have increased, because the currency-deposit ratio increased, which in turn increases the money multiplier.

Explanation:

5 0

2 years ago