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Ashley Finn is a new production manager. After a great deal of effort, including considerable market research, she completes her budget and submits it to her boss, Keith Payne. Without even looking at it, he asks her what her "fudge factor" was, and which items contained the most slack. Ashley, very surprised, responds that she doesn't use any "fudge factor," and that all her figures are honest. Mr. Payne counters by asking her how she would respond if she had to cut about 20% from her budget, as it is. He tells her that most budgets are trimmed in committee, and she had better be ready. He returns the budget to her, and tells her to come back with something reasonable.
Question 1. Is it ethical to build slack into a budget? Explain.
Question 2. Was it ethical for Mr. Payne to refuse to accept a budget without slack? Briefly explain.
Prepare the company's budgeted income statement using an absorption income statement format as shown in Schedule 9.
The following accounts and corresponding balances were drawn from Teva Company's 2014 and 2013 year end balance sheets:
$4217000, common stock of $1052000, and retained earnings of $698000. What are the creditors' total amount on claims on their assets?
Determine whether your client is required to capitalize fringe benefits and general overhead that is attributable to employees who are building an addition to your client's factory during a "slack time" at work.
Diane Disney, Explain to the COO, who has been on job, what your analysis shows about how well Disney has managed her labour costs.
$722,500 of variable costs. The flexible budget amounts of fixed and variable costs for 32,000 units are (Do not round intermediate calculations)
Design your spreadsheet to meet the assignment requirements set out above. In particular, check the spreadsheet requirements and the spreadsheet advice PDF - Distinguish between job costing and process costing.
If a proposed capital project has an internal rate of return of 10% with a hurdle rate of 11%, what course of action is recommended?
Explain the type of exploitation or unethical practice in advertising that is at play in the ad. Discuss whyr you think this is an unethical or immoral practice
Describe the value of activity-based customer costing. Explain how activity-based costing can help a firm identify its true low-cost suppliers.
warnerwoods company uses a perpetual inventory system. it entered into the following purchases and sales transactions
How Well-managed organization usually may a budgeting cycle that include planning the performance of the organization as a whole
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