Did Fred Rubble behave in an ethical manner?
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H. Jeckel Manufacturing Company allows employees to purchase, at cost, manufacturing materials, such as metal and lumber, for personal use. To purchase materials for personal use, an employee must complete a materials requisition form, which must then be approved by the employee’s immediate supervisor. Fred Rubble, an assistant cost accountant, charges the employee an amount based on J. Jeckel’s net purchase cost.
Fred Rubble is in the process of replacing a deck on his home and has requisitioned lumber for personal use, which has been approved in accordance with company policy. In computing the cost of lumber, Fred reviewed all purchase invoices for the past year. He then used the lowest price to compute the amount due to the company for the lumber.
- Did Fred Rubble behave in an ethical manner?
- If you were Fred, how would you have handled computing costs for the lumber?
- What type of effect will Fred’s actions have on the company?
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- Jeckel Manufacturing Company allows employees to purchase, at cost, manufacturing materials, such as metal and lumber, for personal use. To purchase materials for personal use, an employee must complete a materials requisition form, which must be approved by the employee’s immediate supervisor. Fred Rubble, an assistant cost accountant, charges the employee an amount based on the company’s net purchase cost. Fred Rubble is in the process of replacing the deck on his house and has requisitioned lumber for personal use, which has been approved in accordance with company policy. In computing the cost of the lumber, Fred reviewed all the purchase invoices for the past year. He then used the lowest price to compute the amount due the company for the lumber. DISCUSS WHETHER FRED BEHAVED IN AN ETHICAL MANNER.H. Jeckel Manufacturing Company allows employees to purchase, at cost, manufacturing materials, such as metal and lumber, for personal use. To purchase materials for personal use, an employee must complete a materials requisition form, which must then be approved by the employee’s immediate supervisor. Fred Rubble, an assistant cost accountant, charges the employee an amount based on J. Jeckel’s net purchase cost. Fred Rubble is in the process of replacing a deck on his home and has requisitioned lumber for personal use, which has been approved in accordance with company policy. In computing the cost of lumber, Fred reviewed all purchase invoices for the past year. He then used the lowest price to compute the amount due to the company for the lumber. What type of effect will Fred’s actions have on the company?Smith Manufacturing Company allows employees to purchase materials, such as metal and limber, for personal use at a price equal to the company's cost. To purchase materials, an employee must complete a materials requisition form, which must then be approved by the employee's immediate supervisor. Brian, an assistant cost accountant, then charges the employee an amount based on Smith's net purchase cost. Brian is in the process of replacing a deck on his home and has requisitioned lumbar for personal use, which has been approved in accordance with company policy. In computing the cost of the lumber, Brian reviewed all the purchase invoices for the past year. He then used the lowest price to compute the amount due to the company for the lumber. The Institute of Management Accountants (IMA) is the professional organization for managerial accountants. The IMA has established four principles of ethical conduct for its members: Honesty Fairness Objectivity Responsibility These…
- Avett Manufacturing Company allows employees to purchase materials, such as metal and lumber, for personal use at a price equal to the company's cost. To purchase materials, an employee must complete a materials requisition form, which must then be approved by the employee's immediate supervisor. Brian Dadian, an assistant cost accountant, then charges the employee an amount based on Avett's net purchase cost. Brian is in the process of replacing a deck on his home and has requisitioned lumber for personal use, which has been approved in accordance with company policy. In computing the cost of the lumber, Brian reviewed all the purchase invoices for the past year. He then used the lowest price to compute the amount due the company for the lumber. The Institute of Management Accountants (IMA) is the professional organization for managerial accountants. The IMA has established four principles of ethical conduct for its members: honesty, fairness, objectivity, and responsibility. These…Avett Manufacturing Company allows employees to purchase materials, such as metal and lumber, for personal use at a price equal to the company’s cost. To purchase materials, an employee must complete a materials requisition form, which must then be approved by the employee’s immediate supervisor. Brian Dadian, an assistant cost accountant, then charges the employee an amount based on Avett’s net purchase cost.Brian is in the process of replacing a deck on his home and has requisitioned lumber for personal use, which has been approved in accordance with company policy. In computing the cost of the lumber, Brian reviewed all the purchase invoices for the past year. He then used the lowest price to compute the amount due the company for the lumber.The Institute of Management Accountants (IMA) is the professional organization for managerial accountants. The IMA has established four principles of ethical conduct for its members: honesty, fairness, objectivity, and responsibility. These…Avett Manufacturing Company allows employees to purchase materials, such as metal and lumber, for personal use at a price equal to the company's cost. To purchase materials, an employee must complete a materials requisition form, which must then be approved by the employee's immediate supervisor. Brian Dadian, an assistant cost accountant, then charges the employee an amount based on Avett's net purchase cost. Brian is in the process of replacing a deck on his home and has requisitioned lumber for personal use, which has been approved in accordance with company policy. In computing the cost of the lumber, Brian reviewed all the purchase invoices for the past year. He then used the lowest price to compute the amount due the company for the lumber. The Institute of Management Accountants (IMA) is the professional organization for managerial accountants. The IMA has established four principles of ethical conduct for its members: honesty, fairness, objectivity, and responsibility. These…
- Oak Enterprises allows employees to purchase, at cost, manufacturing materials, such as metal and lumber, for personal use. To purchase materials for personal use, an employee must complete a materials requisition form, which must then be approved by the employee's immediate supervisor. Cheryl Long, an assistant cost accountant, charges the employee an amount based on Oak's net purchase cost. Cheryl Long is in the process of replacing a deck on her home and has requisitioned lumber for personal use, which has been approved in accordance with company policy. In computing the cost of the lumber, Long reviewed all the purchase invoices for the past year. She then used the lowest price to compute the amount due the company for the lumber. Discuss whether Cheryl behaved in an ethical manner. Support your answer.Ethics in ActionAvett Manufacturing Company allows employees to purchase materials, such as metal and lumber, for personal use at a price equal to the company’s cost. To purchase materials, an employee must complete a materials requisition form, which must then he approved by the employee’s immediate supervisor. Brian Dadian, an assistant cost accountant, then charges the employee an amount based on Avett’s net purchase cost. Brian is in the process of replacing a deck on his home and has requisitioned lumber for personal use, which has been approved in accordance with company policy. In computing the cost of the lumber, Brian reviewed all the purchase invoices for the past year, He then used the lowest price to compute the amount due the company for the lumber.The Institute of Management Accountants (IMA) is the professional organization for managerial accountants. The IMA has established four principles of ethical conduct for its members: honesty, fairness, objectivity, and…Alan is the owner of a new manufacturing business, producing the vehicle components for Proton Supreme V supplies. Advise him by classifying the following costs into the correct categories; fixed cost, variable costs, production overhead, administration overhead, or distribution overhead. Depreciation of machinery Repairs to machinery Supervisors’ salary Assemblers’ wages Electric power Wages for driver of delivery lorry Raw materials: steels and metals Nuts and bolts Delivery costs Salary to administrative staff
- As a plant accountant, you have been directed by the new plant manager to expense all manufacturing costs as they are incurred. Do you agree with this directive? Explain your answer, including comments concerning product and period costs.Presented below is a list of costs and expenses usually incurred by Barnum Corporation, a manufacturer of furniture, in its factory.Classify the below items into the following categories: (a) direct materials, (b) direct labor, and (c) manufacturing overhead. Item Category 1. Salaries for assembly line inspectors. select a category 2. Insurance on factory machines. select a category 3. Property taxes on the factory building. select a category 4. Factory repairs. select a category 5. Upholstery used in manufacturing furniture. select a category 6. Wages paid to assembly line workers. select a category…Indicate whether the following costs of Procter Gamble (PG), a maker of consumer products, would be classified as direct materials cost, direct labor cost, or factory overhead cost: a. Depreciation on assembly line equipment in the Mehoopany, Pennsylvania, paper products plant b. Licensing payments for use of Disney characters on children products c. Maintenance supplies d. Packaging materials e. Paper used in bath tissue f. Plant manager salary for the Iowa City, Iowa, plant g. Resins for body wash products h. Salary of process engineers i. Scents and fragrances used in making soaps and detergents j. Wages of production line employees at the Pineville, Louisiana, soap and detergent plant