Business/Professional Ethics Directors/Executives/Acct
8th Edition
ISBN: 9781337485913
Author: BROOKS
Publisher: Cengage
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Read the given case study and answer the following questions.:
In April 2013, more than one thousand factory workers died when the eight-story Plaza building in Dhaka Bangladesh, collapsed. Investigation revealed that the building was home to a handful of factories that manufactured foreign clothing brands. Why only a few of the companies, have put money towards compensating the victims and their families, half the brands associated with the collapse, such as Benetton, Carrefour, and JCPenney, have yet to shell out money to assist those injured or the families who have lost a loved one.
GUIDE QUESTIONS:
1. What would you suggest in order eliminate these work-related tragedies?
2. Would you continue to support the brands that have been mentioned as violators of human rights?
Is this an example of a opportunity cost? Why or why not?
“To begin, I began selling prints of my pictures in the year 2019. It's now closed. USPS and UPS were the options I had during this period to ship out orders. Because UPS was more expensive at the moment, I chose to mail my prints via USPS rather than UPS. My orders were delivered on time and without damage by the United States Postal Service.
The opportunity cost is the cost of UPS shipping.”
In a shop that sells t-shirts, 250 blue t-shirts were sold weekly and 25% of the remaining t-shirts that were sold were red. Of the leftover, 40% of the t-shirts sold were yellow t-shirts and the rest were black t-shirts. Given that the number of black t-shirts sold was 20% of the total number of t-shirts sold, how many red and blue t-shirts were sold altogether?
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- "Manhattan Fashions, Inc., a high-fashion dress manufacturer, is planning to market a new cocktail dress for the coming season. Manhattan Fashions supplies retailers in the east and mid-Atlantic states.Four yards of material are required to lay out the dress pattern. Some material remains after cutting, which can be sold as remnants. The leftover material also could be used to manufacture a matching cape and handbag. However, if the leftover material is to be used for the cape and handbag, more care will be required in the cutting operation, which will increase the cutting costs.The company expects to sell 1,250 dresses. Market research reveals that dress sales will be 20 percent higher if a matching cape and handbag are available. The market research indicates that the cape and handbag will be salable only as accessories with the dress. The combination of dresses, capes, and handbags expected to be sold by retailers are as follows"…arrow_forwardMother to Child Connection is a non-profit organizaton that employs abused and battered women staying in shelters. The mission of this orgainzation is to establish productive lifestyles for these women by employing them in the manufacture of affordable clothing for children. All proceeds fund the shelters in which these women live. Additional Information: Materials purchased on account: $15,500 Materials requisitioned and labor used: Job No. Materials Factory Labor 100 $2650 $1770 101 $1240 $650 102 $980 $420 103 $3420 $1900 104 $1000 $500 105 $2100 $1760 For general factory use: $450 $650 Factory overhead costs incurred on account: $2700 Depreciation on machinery: $1750 Factory overhead applied at a rate of 70% of direct labor cost Completed jobs this period: 101, 101, 102, 104 Shipped jobs: 100, 101, 102 and billed customers $8100, $3800, and $3500, respectively. Questions: a. Record journal entries for the transactions…arrow_forwardIndigo Design Inc., a high-fashion women’s dress manufacturer, is planning to market a new cocktail dress for the coming season. Indigo Design supplies retailers in Toronto, Montreal, and the Atlantic provinces.Four metres of material are laid out for the dress pattern. After cutting, some material remains, which can be sold as remnants. The company could also use the leftover material to manufacture a matching cape and handbag. However, if it uses the leftover material for the cape and handbag, more care will be needed in the cutting, and the cutting costs will therefore increase.The company expects to sell 3,200 dresses if a matching cape and handbag are not available. Indigo Design’s market research reveals, however, that dress sales would be 25% higher if a matching cape and handbag were available. The market research indicates that the cape and/or handbag could not be sold individually but only as accessories with the dress. The various combinations of dresses, capes, and handbags…arrow_forward
- Consumers Union is a nonprofit organization that providesinformation and counsel on consumer goods and services. A major part of its functionis the testing of different brands of consumer products that are purchased on the openmarket and then the reporting of the results of the tests in Consumer Reports, a monthlypublication. Examples of the types of products it tests are middle-sized automobiles,residential dehumidifiers, flat-screen TVs, and boys’ jeans.a. In what ways are the services provided by Consumers Union similar to assuranceservices provided by CPA firms?b. Compare the concept of information risk introduced in this chapter with the information risk problem faced by a buyer of an automobile.c. Compare the four causes of information risk faced by users of financial statements asdiscussed in this chapter with those faced by a buyer of an automobile.d. Compare the three ways users of financial statements can reduce information riskwith those available to a buyer of an…arrow_forwardA large retailer is going to run an experiment at one of its stores to see how cost effective it will be to imbed merchandise with small radio frequency identification (RFID) chips. Shoppers will select items from the store and walk out without stopping to pay at a checkout lane. The RFID chips will record what items are taken and will automatically deduct their price from shoppers’ bank accounts. The retailer expects to save the cost of staffing 12 checkout lanes, which amounts to $100,000 per year. How much can the retailer afford to spend on its RFID investment if the system has a life of 10 years and no residual value? The retailer’s interest rate is 15% per year.arrow_forwardJake’s Jerseys has been asked to produce athletic jerseys for a local school district. The special order is for 1,000 jerseys of varying sizes, and the price offered by the school district is $10 less per jersey than the normal $50 market price. The school district interested in the jerseys is one of the largest in the area. What quantitative and qualitative factors should Jake consider in making the decision to accept or reject the special order?arrow_forward
- Juanita is deciding whether to buy a skirt that she wants, as well as where to buy it. Three stores carry the same skirt, but it is more convenient for Juanita to get to some stores than others. For example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $103 for the skirt: Store Travel Time Each Way Price of a Skirt (Minutes) (Dollars per skirt) Local Department Store 15 103 Across Town 30 89 Neighboring City 60 63 Juanita makes $16 an hour at work. She has to take time off work to purchase her skirt, so each hour away from work costs her $16 in lost income. Assume that returning to work takes Juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. As you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. Complete the following table by computing the opportunity cost of Juanita's time and the…arrow_forwardThe PUPPY SAFETY Corp. is dedicated to the wholesale of microfiche systems to detect the location of lost pets. The company has a production capacity of 10,000 system units and currently only produces 8,000. The company is operating above its tie point. The sale price per system is $500.00 and the related costs are presented later. Required: Indicate whether this business should accept or reject a special order of 500 microchips at a price of $300. The client is the Humane Society and it is an order that will not be repeated in the future as this comes from non-recurring funds. When we learned that the Humane Society was seeking bids, we took it upon ourselves to send our sales specialists who brought a proposal prepared following the usual sales and marketing practices. Despite being a special order, if accepted, it will follow the typical pattern of routine orders in terms of transaction costs. This order has no effect on the routine business of PUPPY SAFETY. Manufacturing costs…arrow_forwardMuscat Tubes Manufacturing LLC is a manufacturer of television picture tubes. The company must keep various types of materials on hand for the manufacturing process. The store manager is having difficulty keeping track of all the inventory. When compared to last year, the amount of material lost has increased, which is a source of concern for the store manager. He wishes to employ an effective tool for controlling material loss. While exploring, he came across the concept of ABC analysis, which is used by many MNCs around the world. Because he has no background in costing, he is unable to grasp the concept. He asked you to explain the following because you are the company's cost accounting executive: Working/Application of ABC analysis?arrow_forward
- The Department of Education called the attention of LBC (Luzon Brokerage Movement) management for showing a commercial that encouraged wrong spelling among children. In a spelling bee contest, the emcee played by Edu Manzano called the contestants to spell remittance, affordable, and instant. They spelled out "LBC" instead. DepEd said that the commercial was encouraging wrong spelling of words. What is the social responsibility of entrepreneurs or advertisers to customers based on the example given above?arrow_forwardIn a 2014 segment of Shark Tank, Trevor Hiltbrand, the founder of nootropic supplement maker Cerebral Success, sought funding from the “Sharks” to introduce a line of nootropic shots to be sold on college campuses in Five Hour Energy-style containers, but encountered some pushback from some of the Sharks who questioned the ethics of marketing to stressed-out, sleep-deprived college students anxious to get good grades. Should it matter if Hiltbrand was trying to capitalize on the need to gain a competitive edge in college by selling something that may not have received FDA approval?arrow_forwardSo what about the 180 bags that is sacrificed to fill the special order? Are they considered an impact from making the special order?arrow_forward
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