Reflection and Discussion Forum Week 9Reflection and Discussion Forum Week 9Reflect on the assigned readings for the week. Identify what you thought was the most important concept(s), method(s), term(s), and/or any other thing that you felt was worthy of your understanding. Also, provide a graduate-level response to each of the following questions:You have been working at Saxet Consulting for the past year and are expected to complete three client reviews per week. You have been very productive and have been completing two extra reviews per week. At a recent team meeting, you expected to receive praise from the President for this extra work; however, your manager took credit for the extra work and received the praise from the President. What has your manager violated and what is your likely reaction? [Your initial post should be at least 450+ words and in APA format (including Times New Roman with font size 12 and double spaced)

LESSON 1 Assignment Note: For multiple-choice questions, identify the best response. Answer each item by giving the letter of your choice. For example, if (4) is the best answer for (a), write a(4) as your answer. Select only one answer for each item. If more than one answer is given, it will not be marked. Incorrect answers will be marked as zero. No marks will be given to any explanation you offer. Question 1 (63 marks) Multiple choice (3 marks each) a. Which of the following statements about managerial accounting is true? 1) Managerial accounting information is prepared for external users. 2) Managerial accounting information is a legal requirement. 3) The structure of managerial accounting practice is relatively flexible. 4) There are structured standards of acceptability for managerial accounting. b. In the context of making a decision, which of the following statements regarding relevant costs is incorrect? 1) An opportunity cost is a relevant cost. 2) A traceable fixed cost is a relevant cost. 3) A variable cost is a relevant cost. 4) A sunk cost is a relevant cost. c. When distinguishing between fixed costs and variable costs, which of the following statements is true? 1) As production rises, variable costs per unit will fall. 2) As production rises, total fixed costs will rise. 3) As production falls, fixed costs per unit will rise. 4) As production falls, variable costs per unit will fall. d. Which of the following are included in manufacturing overhead? 1) All direct material, direct labour, and administrative costs 2) All manufacturing costs except direct labour 3) All manufacturing costs except direct labour and direct materials 4) All selling and administrative costs e. What criterion is used in making the distinction between indirect and direct costs? 1) Whether a cost differs between alternatives 2) Whether a cost is variable or fixed 3) Whether a cost is a product or a period cost 4) Whether a cost can be easily traced to the cost object under consideration f. Buford Company rents out a small unused portion of its factory to another company for €1,000 per month. The rental agreement will expire next month, and rather than renew the agreement, Buford Company is thinking about using the space itself to store materials. What term is used to describe the €1,000 per month? 1) Sunk cost 2) Period cost 3) Variable cost 4) Opportunity cost g. A machine was purchased in 20X6 to make experimental boards. The machine is still being used in the manufacture of the new board. What term is used to describe the cost of this machine in 20X9? 1) Opportunity cost 2) Sunk cost 3) Differential cost 4) Period cost h. Which of the following costs would be considered a period rather than a product cost in a manufacturing company? 1) Manufacturing equipment depreciation. 2) Direct material costs 3) Sales commissions. 4) Property taxes on corporate headquarters. 5) Electrical costs to light the production facility. i. If your inventory balance at the beginning of the month was $1,000, you bought $100 during the month, and sold $300 during the month, what would be the balance at the end of the month? 1) $800 2) $200. 3) $1,000 4) $200. j.Beginning raw materials inventory was $32,000. During the month, $276,000 of raw material was purchased. A count at the end of the month revealed that $28,000 of raw material was still present. What is the cost of direct material used? 1) $276,000 2) $2,000 3) $280,000 4) $272,000 k.Direct materials used in production totaled $280,000. Direct labor was $375,000 and factory overhead was $180,000. What were total manufacturing costs incurred for the month? 1) $835,000 2) $555,000 3) $655,000 4) Cannot be determined l.Beginning work in process was $125,000. Manufacturing costs incurred for the month were $835,000. There were $200,000 of partially finished goods remaining in work in process inventory at the end of the month. What was the cost of goods manufactured during the month? 1) $760,000 2) $1,160,000 3) $910,000 4) Cannot be determined m. Beginning work in process was $125,000. Manufacturing costs incurred for the month were $835,000. There were $200,000 of partially finished goods remaining in work in process inventory at the end of the month. What was the cost of goods manufactured during the month? 1) $780,000 2) $20,000 3) $740,000 4) $760,000 n. Which of the following costs would be variable with respect to the number of cones sold at a Baskins & Robbins shop? (There may be more than one correct answer.) 1) The wages of the store manager 2) The cost of napkins for customers. 3) The cost of lighting the store. 4) The cost of ice cream. o. Suppose you are trying to decide whether to drive or take the train to Kuala Lumpur to attend a concert. You have ample cash to do either, but you don’t want to waste money needlessly. Is the cost of the train ticket relevant in this decision? In other words, should the cost of the train ticket affect the decision of whether you drive or take the train to Kuala Lumpur? 1) Yes, the cost of the train ticket is relevant. 2) No, the cost of the train ticket is not relevant. p. Suppose you are trying to decide whether to drive or take the train to Kuala Lumpur to attend a concert. You have ample cash to do either, but you don’t want to waste money needlessly. Is the annual cost of licensing your car relevant in this decision? 1) Yes, the licensing cost is relevant. 2) No, the licensing cost is not relevant. q. Suppose that your car could be sold now for $5,000. Is this a sunk cost? 1) Yes, it is a sunk cost. 2) No, it is not a sunk cost. Note: Questions (l) through (n) are based on the following information pertaining to Hailey’s manufacturing operations: Inventories January 1, 20X6 December 31, 20X7 Direct materials € 30,000 € 20,000 Work in progress 30,000 25,000 Finished goods 28,000 35,000 Additional information for 20X6: Direct materials purchased € 110,000 Direct manufacturing labour payroll 90,000 Direct manufacturing labour rate per hour 10 Factory overhead rate per direct manufacturing labour-hour 7 r. For 20X6, what was the cost of goods manufactured? 1) € 35,000 2) €268,000 3) €273,000 4) €278,000 Note: Answer Questions (p) and (q) using the following selected data for March, taken from Ryker Company’s financial statements: Cost of goods available for sale € 61,000 Manufacturing overhead 25,000 Cost of goods manufactured 51,000 Finished goods inventory — ending 10,000 Direct materials used 20,000 Sales 115,000 Selling and administrative expenses 30,000 Direct labour 15,000 Work-in-progress inventory — beginning 8,000 s. What was the work-in-progress inventory at the end of March? 1) € 0 2) € 9,000 3) € 17,000 4) € 60,000 Note: Answer Questions (s) and (t) using the following data from the Bonnie Company for the month of November 20X7: Inventories 11/1/20X7 11/30/20X7 Raw materials € 19,000 € ? Work in progress 12,000 14,000 Finished goods ? 9,000 Additional data: Sales revenue € 106,000 Direct labour costs 10,000 Manufacturing overhead costs 11,000 Selling expenses 12,000 Administrative expenses 18,000 t. If the cost of raw materials purchased in November was €14,000 and the cost of goods manufactured was €40,000, what was the inventory of raw materials on November 30? 1) €12,000 2) €14,000 3) €16,000 4) €19,000 u. If the cost of goods manufactured for November was €40,000 and net income was €41,000, what was the finished goods inventory on November 1? 1) € 1,000 2) € 4,000 3) €32,000 4) €35,000 Question 4 (37 marks) Calista’s Pasta is a pasta company in Cecilia, Italy. The owner, Andrew Calista, wants to identify the various costs incurred each year in order to plan and control the business costs. The company’s costs for the last year are as follows (€ 000’s): Utilities for the plant €1,000 Salaries — direct labour 11,000 Pasta equipment maintenance 800 Depreciation — property, plant and equipment 1,000 Uniforms 400 Direct materials 9,500 Insurance for the plant 300 President’s salary 15,000 Rent — administrative offices 4,000 Administrative costs 9,000 Advertising and selling expenses 6,500 Boxes and bags used in pasta packaging 6,000 Idle time 600 Overtime premiums — direct labour 3,500 Fringe benefits — direct 2,000 Fringe benefits — indirect labour 1,400 Total costs € 72,000 Required a. (7 marks) Divide the total expenses of €72,000,000 into two categories: product and period cost. b. (30 marks in total) The president, Andrew Calista, is planning to expand his business into Greece and Spain. This expansion will not require additional pasta facilities, but direct materials and labour will increase significantly. Both Greek and Spanish authorities will require specific documentation and inspections for the goods to get entry approval. This will be an additional cost to take into consideration. (i) (10 marks) Are these additional costs product or period costs? (ii) (20 marks) Explain to Andrew Calista whether all these additional costs are relevant to the decision to expand his business to Greece and Spain. 100

Create a research and reflection paper that synthesizes information gathered from an interview you will conduct with a manager of your choosing, industry knowledge, and your own personal experiences. The goal of the interview is to gain insight into what makes a good manager from the perspective of someone in a management position.Be sure to read the Portfolio Project description below thoroughly before beginning to work on the project.Step 1: Interview Subject and Summary of TheoriesConsider the person who will be your interview subject. I might be helpful to create an initial summary of the theories that you plan to cover. This item is not a deliverable but will help you develop a well organized paper. With respect to your summary of theories, your approach to theory can change as you progress through your project and should be adapted as you conduct research.IMPORTANT: with respect to the identification of the person you will interview, do not provide specific contact information in order to protect their privacy.Step 2: Portfolio Project OutlineConsider drafting an outline of your Portfolio Project that includes bullet points in the form of sentences or phrases describing each major argument you want to make, and that is organized as the final project will be organized. This should by no means be a complete or final document, but it should be sufficiently advanced to serve as a guide and working draft of your project to ensure that your writing is clear, thoughtful, and precise.Step 3: InterviewFor your interview, choose a manager with whom you are familiar—ideally, someone you admire and aspire to emulate. Ask her or him for some time—perhaps you can sit down for coffee—during which you can describe your goals for this project. Ask the manager what insights she or he has to offer to you at this point in your career.The goal of the interview is to gain insight into what makes a good manager from the perspective of someone in a management position. Some topics to touch on in the interview could include the following:• How did your interviewee come to be a manager? (i.e., What career path did she or he follow?)• What has surprised your interviewee most about what it means to be an effective leader (as opposed to the popular view of what a successful leader is and/or does)?• What roles are played by managerial goals, objectives, decision making, and communication on the job?• How does the interviewee handle change management at his/her organization, and what specific challenges has she or he encountered?• What advice does your interviewee offer to someone in your position and with your short- and long-term goals?At the close of the interview, be sure to thank your interviewee for her or his time and assistance!Step 4: Research and Reflection PaperIn the next phase, ruminate on what you learned in your interview—especially anything that helped you gain a deeper insight into key principles of management. Then, write a research and reflection paper in which you draw upon your individual learning, research findings, and knowledge you have gained from the interview to demonstrate a more in-depth understanding of the foundational requirements of management. Go beyond recitation of memorized facts or regurgitation of information; strive to synthesize the most important topics of management (i.e., leadership, personality, motivation, decision making, communication, and the importance of good management to yourself and society) into a hybrid research and reflection paper.Your well-organized and coherent paper should integrate responses to each of the following questions:• What leadership precepts did your interviewee impart to you (or what can you glean on the topic as a result of your interview), and how do those dovetail with one or more of the modern theories of leadership?• How do the personalities of workers, colleagues, managers, and subordinates impact your performance in, and experience of, the workplace? How do they interact with one or more leadership models to create the most effective work environment?• In light of your interview, the leadership model(s) you’ve researched, and your own personality, what one or two tenets of motivation theory have you taken away from this experience?• How does your understanding of motivation theories impact your conceptions of the best practices when it comes to making decisions and communicating at work?• Based on your interview and knowledge gained from this experience, what does it take to be an effective employee, a successful manager, and an exemplary citizen of society?Your well-written paper should meet the following requirements:• Be 8-10 pages in length• Be formatted according to APA Requirements.• Cite at least three scholarly sources to support your assertions and strengthen your arguments.