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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. Is Ben Gibson acting legally? Is he acting ethically? Why or why not?Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Gary’s Seasoning wants to increase its capacity by adding more blending and packagingmachines. Two vendors have presented proposals. Vendor A’s equipment costs $11,500 and the variable cost per unit is $2.00. Vendor B’s equipment costs $13,500 and the variable cost per unit is $1.75. Selling price for each seasoning packet for $4.00.a. What is the break-even point for each proposal?b. If the expected volume is 7,500 packages, which vendor should be chosen? (Show all calculations to earn full credit)
- Franklin Company makes fine jewelry that it sells to department stores throughout the United States. Franklin is trying to decide which of the two bracelets to manufacture. Cost data pertaining to the two choices follow. Bracelet A Bracelet B Cost of materials per unit Cost of labor per unit Advertising cost per year Annual depreciation on existing equipment %24 30 37 43 43 8,800 6,500 7,700 5,900 Required a. Identify the fixed costs and determine the amount of fixed cost for each product. b. Identify the variable costs and determine the amount of variable cost per unit for each product. c. Identify the avoidable costs and determine the amount of avoidable cost for each product.THSHT Pritchett's Precious Time Pieces PATOG Bill's company, Pritchett's Precious Time Pieces, buys, sells, and repairs old clocks and clock parts. Bill sells rebuilt springs for a price per unit of $10. The fixed cost of the equipment to build the springs is $1,000. The variable cost per unit is $5 for spring material. Required: Create a quantitative analysis model to determine the company's profit, and answer the following: 1. How much would the company's profit/(loss) be if they were unable to sell anything? 2. How much would the company's profit/(loss) be if they sold 400 units? 3. How many units do the company need to sell to break-even?What the strategy should be for reviewing ESHS requirements in subcontractors and suppliers before contracting and how this is relevant in the selection process, also a strategy for develop a detailed plan and requirements that subcontractors and suppliers must achieve and implementing a monitoring process as well as comprehensive strategy to guarantee the accomplishment of ESHS requirements and consequences if subcontractors or suppliers do not accomplish them.
- Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter. Finished goods Inventory,June1 $61,600 $46,200 (e) Cost of goods manufactured 329,000 (c ) 484,800 Cost of finished goods available for sales (a) $260,400 $540,000 Finished goods Inventory ,June30 72,800 61,600 (f) Cost of goods sold (b) (d) $513,600Davidson Corp. produces a single product: fireproof safety deposit boxes for home use. The budgetgoing into the current year anticipated a selling price of $55 per unit. Because of competitive pressures, the company had to cut selling prices by 10% during the year. Budgeted variable costs per unitare $32, and budgeted total fixed costs are $156,000 for the year. Anticipated sales volume for theyear was 10,000 units. Actual sales volume was 5% less than budget. (1) What was the sales pricevariance for the year? (Round your answer to the nearest whole dollar.) (2) Label this variance F(favorable) or U (unfavorable), as appropriateWhich of the following changes in cost-volume-profit factors will reduce the break-even point? Group of answer choices a. A decrease in total fixed cost d. An increase in total fixed cost b. A decrease in selling price c. An increase in unit variable cost In a contribution income statement Group of answer choices a. Costs are classified as to function b. Fixed and variable manufacturing costs are combined as one level item d. Fixed manufacturing costs are shown separately from variable manufacturing costs, but fixed and variable operating costs are combined as one line item c. Fixed costs are shown separately from variable cost
- Adidas is an athletic company designs and manufacturesseveral athletic things. Football is one of the company'sproducts that sells for $40 per unit. Total fixed costs relatedto the manufacturing of the football are $150,000 per monthand variables costs involved in manufacturing are $ 15 perunit. 1- Compute the break- even point of the football in unitsand dollars?Corral Cartage leases trucks to service its shipping contracts. Larger trucks have cheaper operating costs if there is sufficient business, but are more expensive if they are not full. CC has estimates of monthly shipping demand. What comparison method(s) would be appropriate for choosing which trucks to lease? 1.Present Worth(PW) 2.Annual Worth(AW) 3.Payback PeriodDetermine which factor of production is needed in the following problem. 1.The ABM manufacturing Co.hired a gardener.He uses a lawn mower for landscaping.Which factor of production would you consider this machine? 2.The owner of the company withdrew cash for the salaries of thw employees.which factor of production would you consider cash on hand? 3.The top manager of the firm said "the great ideas,consepts and emotional determination of a person to produce something that consumers want to buy" is very important for the company.What factor of production describes the ability to create great ideas? 4.The farmers planted pineapple cutting in the vacant area located in their locality.Which factor of production would you consider a pineapple plantation?