Ace Fertilizer Company
Abby Conroy was tasked with calculating an effective quote for Breeland Ltd., she chose the activity based accounting costing system since it more accurately captures the related costs. A special order was placed by Breeland Ltd. with Ace Fertilizer Company. The did not plan to order more of this product in the future. Based on Ace’s policy, the special order included disposal costs for any used materials in the event no other orders existed for the unused materials at the time the Breeland contract was signed. Abby correctly calculated the total direct material and labor costs and accurately arrived at the indirect costs using the ABC method and used cost activity pools that make sense for the company and
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Since Georges’ conversation with Josh would be considered confidential in nature with respect to Breeland, it would limit Abby’s permission to inform them of any possible rework of the quote without express consent or approval of George. Since Tom Brennen would need to review any reworked quotes anyway, it doesn’t seem likely that Abby would violate any confidentiality requirements as directed by IMA Standards. Georges’ suggested game plan of billing the products twice could be seen as a misuse of confidential information since he is confident Josh will buy the materials but is still willing to move forward with the Breeland quote without disclosing the possibility of Josh’s purchase to Tom. George may also be engaging in a conflict of interest by using his brother and information gained in a non professional environment as a means to unethically increase revenue. It would also represent a departure from ethics and integrity as an activity that discredits the profession since it lacks communication with Breeland. If Josh does confirm he will purchase the materials within the 20 day usable product window, it would represent additional and more timely information and should signal Abby’s recommendation to revise Breeland’s quote, even if it is after the fact. It is a timing issue. If George does provide the Breeland quote to Tom ‘as is’ and does not discuss with him the
In chapter two at the party, George seemed to be more interested in Tom’s business coming his way then the night himself and was not obnoxious, or evil. “He
These two men are alike more than they’re different. In the 1920’s men think they should be in charge and to everyone else they had to look like they’re the “boss”. It is obvious that George and Tom both feel this way, with their temper and pride basically controlling their life. Only in comparison, Tom is able to get away from acting like this because of his financial status and his power, George although has to pay fully for his
This passage shows Georges over reaction/Kidnapping of his wife after he figures out that she’s been cheating on him. The way Tom overreacts which is ironic due to the multiple times he has cheated on daisy can be seen in this passage. “Self-control!” repeated Tom incredulously. “I suppose the latest thing is to sit back and let Mr. Nobody from Nowhere make love to your wife. Well, if that’s the idea you can count me out…Nowadays people begin by sneering at family life and family institutions, and next they’ll throw everything overboard and have intermarriage between black and white”.
Now that I can look back over my life I see that me and Daisy probably wouldn't have lasted long, even if she did leave Tom for me, as Tom was a spiteful man and he would have found a way to rip me and Daisy apart just as he had told George that something needed to be done about me. You see if me and Daisy had run away together, he would have hired someone to hunt me down and kill me. I did not see this man as being very dangerous when I was alive,
Glaser Health Products manufactures medical items for the health care industry. Production involves machining, assembly and painting. Finished units are then packed and shipped. The financial controller is interested to introduce an activity-based costing (ABC) system to allocate (or distribute) indirect costs to products. Indirect costs, as distinct from direct costs, cannot be unambiguously linked to specific products. The controller would like to calculate product costs based on ABC for planning and control, not inventory valuation.
Having a double undergraduate major in Accounting and Integrated Supply Management and an MBA from a renowned business school qualified Abby Conroy, CMA, for her position at Ace Fertilizer Company. She has been employed at Ace Fertilizer for the past three years, and is a highly respected employee. Her hard work and dedication to detail resulted in a series of rapid promotions. Currently, Abby is assistant director of manufacturing and is primarily responsible for special customer orders. Meeting the needs of customers in manufacturing special orders has become a very profitable portion of Ace’s operations. These special orders sometimes complement, but
The paradox here is that Tom is, in a sense, George himself as Tom's wife, Daisy, is in the process of being taken away from him.
Under a traditional system, overhead cost is allocated to an activity based on hours or rates for direct labor or machine usage. However, this approach does not clearly indicate how much overhead cost will be needed in order to complete a job through a particular function. ABC methodology is to be used as an alternative to traditional accounting where a business 's overhead costs (indirect costs such as electrical energy consumption for heating or cooling, or indirect cost associated with marketing) are allocated as a proportion of direct costs, to an activity. This approach is unsatisfactory because there can be cases where two activities could absorb the same direct costs
The EPA has a major impact on manufacturers through enforcing its regulations. Go to the EPA website and review EPA’s settlement with Mosaic fertilizer, LLC: https://www.epa.gov/enforcement/mosaic-fertilizer-llc-settlement
So it means Yards of fabric 1 on dobbie loom is 4666.67; Yards of fabric 2 on dobbie loom is 22000; Yards of fabric 3 on dobbie loom is 0; Yards of fabric 4 on dobbie loom is 0; Yards of fabric 5 on dobbie loom is 0; Yards of fabric 3 on regular loom is 27868.421; Yards of fabric 4 on regular loom is 7500; Yards of fabric 5 on regular loom is 62000; Yards of fabric 1 purchased is 11833.333; Yards of fabric 2 purchased is 0; Yards of fabric 3 purchased is 34131.579; Yards of fabric 4 purchased is 0; Yards of fabric 5 purchased is 0.
Andre Agassi Construction Company began operations January 1, 2008. During the year, Andre Agassi Construction entered into a contract with Lindsey Davenport Corp. to construct a manufacturing facility. At that time, Agassi estimated that it would take 5 years to complete the facility at a total cost of $ 4, 5000,000. The total contract price for construction of the facility is $ 6,300,000. During the year, Agassi incurred $ 1, 185,800 in constriction coast related to the construction project. The estimated cost to complete the contract is $ 4,204,200. Lindsey Davenport Corp. was billed and paid 30% of
Located in the Caribbean Sea, Saint Croix has a sub-tropical island climate and is the largest of the U.S. Virgin Island(USVI) territories with the greatest percentage of arable land. Little seasonal temperature variability, low humidity, and a year-round growing season has historically offered the island significant advantages for agricultural development and production. Even with seasonal rainfall and periods of drought, the island is extremely capable of supporting a wide array of tropical fruits. These include coconuts, mangos, papayas, guavas, passion fruits, soursop, mamey apples, sugar apples,
The traditional product-costing system undercosts the Satin Sheen product line, with respect to quality-control costs by $525
The goal of this experiment was to create an aqueous chemical fertilizer with the mass composition of 0.80% nitrogen, 0.50% phosphorous, 0.10% potassium, and 0.20% sulfur4 and a pH between 6.0 and 7.0. The criterion of mass percent composition was addressed by conducting molarity, stoichiometry, and unit conversion calculations to determine the mass of chemicals which should be used. Solubility rules were addressed to hypothesize a combination of chemical compounds which would contain the required elements but produce no precipitant. The use of a strong acid, in this case HCl, was implemented to control the pH in the final fertilizer solution. This experiment produced an aqueous fertilizer with no precipitants which had a final pH of 7 after the addition of 0.50 mL of HCl. The validation of the initially stated hypothesis through experimental results suggested that the technique used in this experiment was both effective and practical for creating a chemical fertilizer.
This method ensures that all sustained costs are recuperated from the selling price of a good price. This method is also known as ‘full absorption costing’. The three steps required to complete a periodic assessment of costs produced to good is to: Assign costs to cost pools. This consists of a standard set of accounts that are always included in the cost pools and they should not be changed. The second step is to calculate the usage and this can be done as there needs to be a checking of the usage of whatever activity measure is used to allot overhead costs such as machine hours or direct labour hours used. The final step would be to assign the costs. In order to do this, first divide the usage measure into the total costs in the cost pools to conclude at the allocation rate per unit of activity, and assign overhead costs to produced goods based on this usage rate.