Business Finance Homework Help

I’m working on a accounting question and need a sample draft to help me learn.

Question 1

Setting materials, labor, and overhead standards are challenging. If standards are set too low, companies might purchase inferior products and employees might not work to their full potential. If standards are set too high, companies could be unable to offer a quality product at a profitable rate and employees could be overworked. The ethical challenge is to set a high but reasonable standard. Assume that as a manager, you are asked to set the standard materials price and quantity for a new warehouse robot, a technically advanced product. To properly set the price and quantity standards, you assemble a team of specialists to provide input.

Identify four types of specialists that you would assemble to provide information to help set the materials price and quantity standards. Briefly explain why you chose each individual.

Question 2

Super Security Co. offers a range of security services for athletes and entertainers. Each type of service is considered within a separate department. Marc Pincus, the overall manager, is compensated partly on the basis of departmental performance by staying within the quarterly cost budget. He often revises operations to make sure departments stay within budget. Says Pincus, “I will not go over budget even if it means slightly compromising the level and quality of service. These are minor compromises that don’t significantly affect my clients, at least in the short term.”

Required

1. Is there an ethical concern in this situation? If so, which parties are affected? Explain.
2. Can Marc Pincus take action to eliminate or reduce any ethical concerns? Explain.
3. What is Super Security’s ethical responsibility in offering professional services?