Premium Essay

Case 20-3 Cotter Company, Inc.

In:

Submitted By Bgerwick
Words 636
Pages 3
Case 20-3 Cotter Company, Inc.
Acctg 835
Advanced Managerial Accounting
Powercat Consulting Group
Group 2
Blake Gerwick, Jing Yu, Jake Norby
March 4, 2013

General Overview: During preparation of the annual budget, the management of Cotter Company has realized that the company has seasonal sales fluctuations. Currently the costs of operation include prime costs (which are labor and material costs that vary with quantity of production), production overhead costs (which include both fixed and variable elements), and selling and general expenses costs. Of the total production overhead budget it is estimated that the variable costs are equal to 25% of the prime costs. Projections for the month of January showed that the company should produce a profit of $20,000. However sales goals were not met and production was also cut back. Due to these two factors the company experienced a loss of $7,000 for January which perplexed the company president, Sam Cotter. Our firm has been contracted to analyze the situation so that Cotter Company has a better understanding of how their production and sales levels affect their bottom line.

Questions and Solutions: 1. The first determining factor in the loss for January is that the company missed sales projections by $60,000 which is 30% below planned sales volume. Secondly, the company experienced a $3,500 unfavorable prime cost variance along with a $12,500 unfavorable volume variance. The volume variance can be attributed to the fact that production volume was cut back. The prime cost variance could be due to either inefficient labor and/or material usage or spending more than planned for materials.

2. From our calculations, Cotter should expect to earn exactly zero profit it the monthly volume level is 155,556 units. That is with the assumptions that the selling price is $1 per unit and that there are no

Similar Documents

Premium Essay

Glass

...Al Darmaki 1039949 Aysha Al Dhaheri 1031700 Noura Al Alawi 1031350 Aysha Al Shamisi 1012981 Najla Al Otaibi 1038068 LEADERSHIP AND WOMEN CAREER SUCCESS: THE GLASS CEILING EFFECT WITHIN THE UAE CEDARS - Jebel Ali International Hospital TABLE OF CONTENTS INTRODUCTION 3 Problem statement 3 Significance of the study 3 STUDY ORGANZIATION: CEDARS - Jebel Ali International Hospital 5 LITERATURE REVIEW 5 An introduction to Leadership: 5 DIFFERENT STYLES OF LEADERSHIP 6 Authoritarian Type of Leadership: 6 Democratic Leadership style: 7 Laissez-Faire Leadership : 8 The underlying concept of Glass Ceiling Effect : 9 Women Leadership Styles and Female Career Advancement 12 Relationship between Leadership Style and Glass Ceiling Effect in connection with women career 14 RESEARCH METHODOLGY AND SAMPLING TECHNIQUE 16 ANALYSIS AND FINDINGS OF THE RESEARCH: 17 Section 1: Leadership Style 17 Section 2: Perceived Glass Ceiling Effect in context of CEDARS 20 Section3: Women Career Pathways 24 CONCLUSIONS AND RECOMMENDATIONS 29 REFERENCES 31 TABLE OF FIGURES Figure 1: Authoritarian Leadership style 16 Figure 2: Democratic Leadership style questionnaire 17 Figure 3: Laissez - Faire Leadership style questionnaire 18 Figure 4: Perceived glass ceiling effect 19 Figure 5: Women career pathways survey 1 23 Figure 6:Women career pathways survey 2 23 INTRODUCTION Problem statement The increasing role of women in management couldn’t be...

Words: 3840 - Pages: 16

Premium Essay

Starbucks: Delivering Customer Service

...Jr. 1) As of May 2006 GM was still struggling to stay out of bankruptcy. (Received on May 10, 2006) 1. Introduction The purpose of this paper is to describe one of the most successful companies in the world and explain the reasons for that success. Fortune magazine’s February 20, 2006 edition featured this headline on its cover: “The Tragedy of General Motors” and a story of GM’s woes by Carol J. Loomis. Two weeks later, Fortune’s next edition on March 6, 2006 had this headline on its cover: “How Toyota Does It: The Triumph of the Prius.” This stark contrast is typical of the stories circulating in the media these days. At a time when a company that was once admired and for many years held the lofty position of the world biggest automaker appears on the brink of bankruptcy 1) , Toyota is about to overtake it in global sales this year (O’Dell, 2005). Why is Toyota continuing to thrive at a time when other carmakers are struggling to survive? At the outset I would like to acknowledge the main source for much of the information in this paper: The Toyota Way: 14 Management Principles from the World’s Greatest Manufacturer by Jeffrey K. Liker (2004). This paper is organized as follows: 1. Introduction 2. The history of Toyota 3. The Toyota Way 4. Summary and conclusionPapers of the Research Society of Commerce and Economics, Vol. XXXXVII No. 1 ― 110 ― 2. The History of Toyota For organizational convenience I...

Words: 18612 - Pages: 75

Premium Essay

Hhcfsd

...Toyota and Why It Is So Successful Robert B. Austenfeld, Jr. (Received on May 10, 2006) 1. Introduction The purpose of this paper is to describe one of the most successful companies in the world and explain the reasons for that success. Fortune magazine’s February 20, 2006 edition featured this headline on its cover: “The Tragedy of General Motors” and a story of GM’s woes by Carol J. Loomis. Two weeks later, Fortune’s next edition on March 6, 2006 had this headline on its cover: “How Toyota Does It: The Triumph of the Prius.” This stark contrast is typical of the stories circulating in the media these days. At a time when a company that was once admired and for many years held the lofty position of the world biggest automaker appears on the brink of bankruptcy1), Toyota is about to overtake it in global sales this year (O’Dell, 2005). Why is Toyota continuing to thrive at a time when other carmakers are struggling to survive? At the outset I would like to acknowledge the main source for much of the information in this paper: The Toyota Way: 14 Management Principles from the World’s Greatest Manufacturer by Jeffrey K. Liker (2004). This paper is organized as follows: 1. 2. 3. 4. Introduction The history of Toyota The Toyota Way Summary and conclusion 1) As of May 2006 GM was still struggling to stay out of bankruptcy. Papers of the Research Society of Commerce and Economics, Vol. XXXXVII No. 1 2. The History of Toyota For organizational convenience I will discuss...

Words: 18553 - Pages: 75

Premium Essay

Biz Terms

...Toyota and Why It Is So Successful Robert B. Austenfeld, Jr. (Received on May 10, 2006) 1. Introduction The purpose of this paper is to describe one of the most successful companies in the world and explain the reasons for that success. Fortune magazine’s February 20, 2006 edition featured this headline on its cover: “The Tragedy of General Motors” and a story of GM’s woes by Carol J. Loomis. Two weeks later, Fortune’s next edition on March 6, 2006 had this headline on its cover: “How Toyota Does It: The Triumph of the Prius.” This stark contrast is typical of the stories circulating in the media these days. At a time when a company that was once admired and for many years held the lofty position of the world biggest automaker appears on the brink of bankruptcy1), Toyota is about to overtake it in global sales this year (O’Dell, 2005). Why is Toyota continuing to thrive at a time when other carmakers are struggling to survive? At the outset I would like to acknowledge the main source for much of the information in this paper: The Toyota Way: 14 Management Principles from the World’s Greatest Manufacturer by Jeffrey K. Liker (2004). This paper is organized as follows: 1. 2. 3. 4. Introduction The history of Toyota The Toyota Way Summary and conclusion 1) As of May 2006 GM was still struggling to stay out of bankruptcy. Papers of the Research Society of Commerce and Economics, Vol. XXXXVII No. 1 2. The History of Toyota For organizational convenience I will discuss...

Words: 18553 - Pages: 75

Premium Essay

Health Care Organizational Ethics Plan

...Contents Introduction 3 Theoretical aspects of organizational policy 3 Ethical Decisions and Judgment 5 Informed Consent 6 Regulatory issues and policies of informed consent are addressed. 7 Finance issues 8 Patient care issues 9 Human resources issues 9 Legal issues 10 Regulatory issues 11 Protocols to address patient safety issues 12 Protocols to address patient access issues 14 Ethical responsibility for transparency in health care 15 End of life and quality of life issues 17 Alternatives in decision-making for health care administrators to resolve ethical dilemmas within the organization 19 Conclusion 20 References 22 Introduction Healthcare is the treatment of health related issues such as prevention, diagnosis, treatment and prevention. Healthcare is provided by Doctors, nurses and other licensed healthcare professionals. Who work at an office or a facility which would be a healthcare organization. By definition “An organization, by its most basic definition, is an assembly of people working together to achieve common objectives through a division of labor, people form organizations because individuals have limited abilities. An organization provides a means of using individual strengths within a group to achieve more than can be accomplished by the aggregate efforts of group members working individually. Business organizations (in market economies) are formed to profit by delivering a good or service to consumers.” (Advameg, Inc., 2016). Healthcare has...

Words: 8018 - Pages: 33

Premium Essay

Effects of Motivational Factors on Job Satisfaction: an Empirical Study on Malaysian Gen-Y Administrative and Diplomatic Officers

...2011 3rd International Conference on Advanced Management Science IPEDR vol.19 (2011) © (2011) IACSIT Press, Singapore Effects of Motivational Factors on Job Satisfaction: An Empirical Study on Malaysian Gen-Y Administrative and Diplomatic Officers Nargess Mottaghi Golshan1, Aznur Hafeez Kaswuri2, Betsabeh Aghashahi3, Muslim Amin4, Wan Khairuzzaman Wan Ismail5 1 International Business School, University Technology Malaysia Abstract. Purpose - This study examines the relationship between motivator and hygiene factors of the two-factor theory and job satisfaction of Gen-Y. Design/ Methodology/ Approach - Totally 128 full time Gen-Y employees of the Malaysian Administrative and Diplomatic officers completed a questionnaire measuring their motivator and hygiene factors and job satisfaction. The motivators were measured by work values questionnaire (WVQ) with 25 items, and job satisfaction was measured with a 15-item questionnaire adapted from Warr et al., (1979). The scales for all questions were seven point Likert scales. Factor analysis, T-Test, regression, and One-way ANOVA were applied in the data analysis. Findings - The results revealed that employees’ motivators are related significantly to their intrinsic job satisfaction. However, employees’ hygiene factors are not significantly related to extrinsic job satisfaction. This result is inconsistent with the previous study of Furnham A. and Eracleous A. (2009) and supports Locke’s (1976) criticism of Herzberg’s theory...

Words: 3865 - Pages: 16

Premium Essay

What Is Six Sigma

...York Chicago San Francisco Lisbon London Madrid Mexico City Milan New Delhi San Juan Seoul Singapore Sydney Toronto McGraw-Hill abc Copyright © 2002 by The McGraw-Hill Companies,Inc. All rights reserved. Manufactured in the United States of America. Except as permitted under the United States Copyright Act of 1976, no part of this publication may be reproduced or distributed in any form or by any means, or stored in a database or retrieval system, without the prior written permission of the publisher. X-XX-XXXXX-X The material in this eBook also appears in the print version of this title: 0-07-138185-6. All trademarks are trademarks of their respective owners. Rather than put a trademark symbol after every occurrence of a trademarked name, we use names in an editorial fashion only, and to the benefit of the trademark owner, with no intention of infringement of the trademark. Where such designations appear in this book, they have been printed with initial caps. McGraw-Hill eBooks are available at special quantity discounts to use as premiums and sales promotions, or for use in corporate training programs. For more information, please contact George Hoare, Special Sales, at george_hoare@mcgraw-hill.com or (212) 904-4069. TERMS OF USE This is a copyrighted work and The McGraw-Hill Companies, Inc. (“McGraw-Hill”) and its licensors reserve all rights in and to the work. Use of this work is subject to these terms. Except as permitted under the Copyright Act of 1976 and...

Words: 25208 - Pages: 101

Premium Essay

Corporate Competitive Strategy

...Quantitative Business Valuation Other Titles in the Irwin Library of Investment and Finance Convertible Securities by John P. Calamos Pricing and Managing Exotic and Hybrid Options by Vineer Bhansali Risk Management and Financial Derivatives by Satyajit Das Valuing Intangible Assets by Robert F. Reilly and Robert P. Schweihs Managing Financial Risk by Charles W. Smithson High-Yield Bonds by Theodore Barnhill, William Maxwell, and Mark Shenkman Valuing Small Business and Professional Practices, 3rd edition by Shannon Pratt, Robert F. Reilly, and Robert P. Schweihs Implementing Credit Derivatives by Israel Nelken The Handbook of Credit Derivatives by Jack Clark Francis, Joyce Frost, and J. Gregg Whittaker The Handbook of Advanced Business Valuation by Robert F. Reilly and Robert P. Schweihs Global Investment Risk Management by Ezra Zask Active Portfolio Management 2nd edition by Richard Grinold and Ronald Kahn The Hedge Fund Handbook by Stefano Lavinio Pricing, Hedging, and Trading Exotic Options by Israel Nelken Equity Management by Bruce Jacobs and Kenneth Levy Asset Allocation, 3rd edition by Roger Gibson Valuing a Business, 4th edition by Shannon P. Pratt, Robert F. Reilly, and Robert Schweihs The Relative Strength Index Advantage by Andrew Cardwell and John Hayden Quantitative Business Valuation A Mathematical Approach for Today’s Professional JAY B. ABRAMS, ASA, CPA, MBA McGRAW-HILL New York San Francisco Washington, D.C. Auckland Bogota ´ Caracas Lisbon London...

Words: 214584 - Pages: 859

Free Essay

Glass Ceiling

...Executive Summary Men and women are entering the labor force in equal numbers but the majority of top management positions still belong to men. More women than ever are entering the labor force but the majority of top management positions in almost all countries are primarily held by men. Female managers tend to be concentrated in lower management positions and hold less authority than men. This suggests that something beyond just sex differences in career patterns must be at work to account for the huge difference in the number of men versus women in top management positions. Although women as a whole may place less emphasis on career success than men, there are a considerable amount of women who strive for top management positions and are unable to attain them. In a recent study almost three-fourths of women and two-thirds of men believe that an invisible barrier (a glass ceiling) prevents women from attaining top management positions. In this report we have tried to find out the barriers causing women advancement in organizational top levels referred to as “Glass Ceiling.” We have conducted our research among some of the top level organizations which are United International University (UIU), MERCANTILE BANK Limited (MBL), Islamic Bank Limited (IBL), and Mutual Trust Bank Limited (MTBL). Without their support we couldn’t have completed this report. Here we have conducted research about some of the factors which correspondents have identified as the major factors. The...

Words: 13830 - Pages: 56

Premium Essay

Fair Vaue Accounting

...The Relevance of the Value Relevance Literature For Financial Accounting Standard Setting: Another View Mary E. Barth Graduate School of Business Stanford University William H. Beaver Graduate School of Business Stanford University Wayne R. Landsman Kenan-Flagler Business School University of North Carolina – Chapel Hill January 2001 We thank Dan Collins, Brian Rountree, participants at the 2000 Journal of Accounting & Economics conference, and the editors, S. P. Kothari, Tom Lys, and Jerry Zimmerman, for helpful comments and suggestions. We appreciate funding from the Financial Research Initiative, Graduate School of Business, Stanford University, and Center for Finance and Accounting Research at UNC-Chapel Hill, Stanford GSB Faculty Trust, and the Bank of America Research Fellowship. Corresponding author: William H. Beaver, Graduate School of Business, Stanford University, 518 Memorial Way, Stanford, CA 94305-5015, (650) 723-4409, fbeaver@leland.stanford.edu The Relevance of the Value Relevance Literature For Financial Accounting Standard Setting: Another View Abstract This paper explains that value relevance research assesses how well accounting amounts reflect information used by equity investors, and provides insights into questions of interest to standard setters. A primary focus of financial statements is equity investment. Other uses of financial statement information, such as contracting, do not diminish the importance of value relevance research...

Words: 13194 - Pages: 53

Free Essay

How Health Tv Shows Affect People's Health Attitude

...Council Victoria, Melbourne, Victoria, Australia It is thought that ‘‘transportation’’—absorption into the narrative flow of a story— may play a role in influencing resistance to persuasion. We hypothesized that advertising that disrupts the experience of narrative transportation may be adversely appraised by audiences. This study aimed to explore the influence of two types of television programs: narratives (dramas, comedies, and soap operas) versus nonnarratives (light entertainment, sports, documentaries, and news), on smokers’ reactions to antismoking advertisements. In preexposure interviews, daily smokers (n ¼ 779) were asked to watch a particular television program they usually watched. Postexposure interviews were conducted within 3 days of exposure. Results indicated that placing an antismoking ad within a program in which the viewer is focused on the narrative flow of a story may lead to reduced immediate cognitive and emotional impact of the ad and reduced intentions to quit, especially among those for whom the ad is most relevant, such as those preparing to quit smoking. Placing antismoking advertising in light entertainment, sports, documentaries, and news programs may make scarce public health dollars go further. In recent years there has been substantial focus on which types of antismoking advertisements (ads) may be most influential (Biener, 2002; Biener, McCallumKeeler, & Nyman, 2000; Goldman & Glantz, 1998; Pechmann, Zhao, Goldberg, & Reibling, 2003; Witte...

Words: 5135 - Pages: 21

Premium Essay

Berk Demarzo

...Taipei Tokyo The Prentice Hall Series in Finance Alexander/Sharpe/Bailey Fundamentals of Investments Bear/Moldonado-Bear Free Markets, Finance, Ethics, and Law Berk/DeMarzo Corporate Finance* Berk/DeMarzo Corporate Finance: The Core* Berk/DeMarzo/Harford Fundamentals of Corporate Finance* Bierman/Smidt The Capital Budgeting Decision: Economic Analysis of Investment Projects Bodie/Merton/Cleeton Financial Economics Click/Coval The Theory and Practice of International Financial Management Copeland/Weston/Shastri Financial Theory and Corporate Policy Cox/Rubinstein Options Markets Dietrich Financial Services and Financial Institutions: Value Creation in Theory and Practice Dorfman Introduction to Risk Management and Insurance Dufey/Giddy Cases in International Finance Eakins Finance in .learn Eiteman/Stonehill/Moffett Multinational Business Finance Emery/Finnerty/Stowe Corporate Financial Management Fabozzi Bond Markets: Analysis and Strategies Fabozzi/Modigliani Capital Markets: Institutions and Instruments Fabozzi/Modigliani/Jones/Ferri Foundations of Financial Markets and Institutions Finkler Financial Management for Public, Health, and Not-for-Profit Organizations Francis/Ibbotson Investments: A Global Perspective Fraser/Ormiston Understanding Financial Statements Geisst Investment Banking in the Financial System Gitman Principles of Managerial Finance* Gitman Principles of...

Words: 195133 - Pages: 781

Free Essay

Bar Coding Implementation Guide

.... . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .xi Chapter 1: The Basics What is a bar code? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .1 How can you benefit from bar coding? . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .2 Tracking . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Inventory management . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3 Validation ....

Words: 29360 - Pages: 118

Premium Essay

Marketing Channel Distribution

...Director of Marketing: Maggie Moylen Executive Marketing Manager: Anne Fahlgren Project Manager Team Lead: Judy Leale Project Manager: Thomas Benfatti Operations Specialist: Nancy Maneri Cover Designer: Suzanne Behnke Creative Director: Jayne Conte Digital Production Project Manager: Lisa Rinaldi Full Service Vendor: Integra Software Services Pvt. Ltd. Full Service Project Manager: Anandakrishnan Natarajan/Integra Software Services Printer/Binder: Courier/Westford Cover Printer: Lehigh-Phoenix Text Font: 10/12, ITC Garamond Credits and acknowledgments borrowed from other sources and reproduced, with permission, in this textbook appear on appropriate page within text (or on page xix). Copyright © 2015 Pearson Education, Inc., publishing as Prentice Hall, One Lake Street, Upper Saddle River, New Jersey 07458. All rights reserved. Manufactured in the United States of America. This publication is protected by Copyright, and permission should be obtained from the publisher prior to any prohibited reproduction, storage in a retrieval system, or transmission in any form or by any means, electronic, mechanical, photocopying, recording, or...

Words: 236095 - Pages: 945

Premium Essay

Blah

...conveying this identity through consistently managing relevant touch points with customers (e.g., Aaker and Joachimsthaler, 2000; Keller and Lehmann, 2003). To this end, managers are striving to better understand consumer behavior and positively influence consumers' brand perceptions through marketing initiatives (e.g., Keller, 1993). However, the direction of influence on a brand's perception and image has become increasingly bilateral. Today, consumers are no longer simply “receivers” of company- and brand-related information. Instead, they operate as “senders” of this information, e.g., by giving brand recommendations, by expressing criticism, or by sharing information with others (Hennig-Thurau et al., 2010). For this reason, managers no longer have exclusive control over information circulating about a company or brand. Consumers therefore play an important role in forming a company's or brand's perception and value in the marketplace (Keller, 2007). Exchange of information about companies and brands between consumers is not a new phenomenon. However, today we are witnessing a new and rapid evolution of consumers interacting with each other via the Internet. Researchers estimate that over 1.4 billion people interact via the Internet, resulting in continual growth in the quantity and quality of information (eMarketer, 2012). New platforms such as Facebook, Twitter or Linkedin, offer consumers the opportunity to...

Words: 36809 - Pages: 148