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Job costing and ethics. Andre Preneur supervises two consulting jobs in the consulting firm of Dewey, Cheatham, and Howe, which does studies on environmental cleanup. One of the consulting jobs is for the Canadian government, the other is for General Electric, Inc. After receiving the monthly financial reports on the two jobs, he immediately called his boss to report that costs were way over budget on the General Electric job.‘‘The job is only about three-fourths complete, but we've spent all the money that we had budgeted for the entire job,'' he said.
‘‘You'd better watch these job costs more carefully in the future,'' his boss advised. ‘‘Meanwhile, charge the rest of the costs needed to complete the General Electric job to your Canadian government job. We're under budget on that job, plus we get reimbursed for costs on the government job.''
a. What should Andre do?
b. Does it matter that Andre's consulting firm is reimbursed for costs on the Canadian government job? Explain.
The Lon-Ki Manufacturing Company must decide between two investments, A and B, which are mutually exclusive. The data on these projects are as follows (in thousands of dollars).
Refer to the information in Exercise 1 23. The dean of the Business School is considering expanding the BBA program by offering an evening program in a nearby city.
Using revenue as an allocation base, how should the costs be allocated for 2010? What are the shortcomings of this allocation formula?
Rodney Worsham is paid $10 an hour for straight-time and $15 an hour for overtime. One week he worked 45 hours, which included 5 hours of overtime, and 3 hours of idle time caused by material shortages.
Develop an auditor report attesting to management's assertions regarding the effectiveness of internal controls and recognize situations that present potential ethical and legal issues and develop solutions for those issues.
What is the contribution margin ratio and the unit contribution margin and determine the break-even point in unit - construct a cost-volume-profit chart, indicating the break-even point.
Yokum Company had the following transactions for 20X1: Collections on accounts receivable $236,250 Payments on inventory ($168,750) Payments for wages and salaries ($78,750) Payments of dividends ($11,250)Depreciation expense ($22,500) Income taxes p..
Calculate the total costs of each job - Calculate the quoted selling price for each job
Compute the optimal order quantity using the EOQ model and compute the number of orders per year and the annual relevant total cost of ordering and carrying inventory.
Compute the amount of working capital at both year-end dates and compute the current ratio at both year-end dates.
Journalize the entries to record the selected transactions - Entries for Issuing and Calling Bonds;
Compute the ROI for both divisions showing the return on sales and investment turnover for the year ended April 2012.
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