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business
horngrens cost accounting a managerial emphasis

Questions and Answers of Horngrens Cost Accounting A Managerial Emphasis

=+2 In what ways might LIFT benefit from adopting an external reporting framework?
=+14-50 KK Incorporating externalities into economic decisions OBJECTIVE 2 PJ Limbo Ltd operates a call centre for a number of insurance companies and banks. PJ Limbo is currently located in the
=+14-51 KKK Sustainable supply chains OBJECTIVE 1 Consider the 10 standards for fair trade prescribed by the World Fair Trade Organisation:1 Creating opportunities for economically disadvantaged
=+14-52 KKK Life-cycle analysis OBJECTIVE 8 Prepare a life-cycle analysis for a cup of coffee. Identify as many of the ingredients and other inputs into the production process as you can. Make
=+Identify the various impacts, and potential impacts, that AutoFix is likely to have on the environment. Prepare an environmental risk analysis and discuss the implications for measurement and
=+14-46 KKK Environmental risk analysis OBJECTIVE 9 Swe Ang Fung operates AutoFix in Kuala Lumpur. AutoFix specialises in minor car servicing, mainly oil and coolant replacement.Coolant contains an
=+The 1-litre bottle contains a concentrated fabric softener that is equivalent to 4 litres of conventional product. The bottle and cap are still made of PET, and there are two paper labels; however,
=+2 What impact will rising fuel prices have on your preference?
=+3 What other factors should be considered in the decision?
=+14-43 KKK Environmental cost analysis OBJECTIVE 9 Extreme Sensations produces deodorant. The production process for the deodorant requires the use of a highly toxic chemical that acts as a catalyst
=+◗ Special employee training. Employees need to be trained in correct handling procedures to keep themselves safe and to avoid spills that would get into the drains, and subsequently into the
=+◗ Depreciation on treatment equipment. Prior to its disposal, the toxic chemical, which is used as a catalyst in the production process, must be treated.Chapter 14: Measuring and reporting
=+◗ Self-monitoring. Extreme Sensations monitors the output of their treatment process prior to releasing the waste.
=+◗ Emissions treatment. There are labour costs associated with operating the treatment equipment.Over the past six years the costs involved in each of these activities has been determined as
=+2 Evaluate the environmental management strategy over the six-year period.
=+14-44 KKK Activity-based costing, activity-based management (continuation of 14-43) OBJECTIVE 9 In addition to their standard deodorant, Extreme Sensations has developed a revolutionary product
=+2 Allocate the environmental costs to the two products based on the quantity of toxic chemical used in the production process for both years and determine the total costs of production for the two
=+3 Calculate the profitability of each product and comment on your results for 2009 and 2014.
=+14-45 KK Life-cycle cost (LCC) (adapted from ‘Environmental Protection in Australia’,) OBJECTIVE 8 Softly Ltd has three options to consider for the packaging of its fabric softener: a 4-litre
=+14-53 KK GRI reporting OBJECTIVE 4 Consider Figure 14-9, which shows the decision tree for boundary setting (p. 562). Provide an example of when, and explain why, the report should include:1
=+2 disclosures on management approach
=+3 narrative reporting on issues and dilemmas.
=+2 Calculate each as a percentage of the total environmental management costs.
=+3 Comment on the management of environmental costs in the context of Trevor’s business, and the value (or lack thereof) of classifying costs in this manner.
=+14-57 KK Environmental risk management (continuation of problem 14-56) OBJECTIVE 9 Trevor is concerned about managing the risks of the operation. Use the risk analysis tool to identify an example
=+How can management accounting tools be used to support sustainability objectives?
=+What is involved in performing life-cycle analysis (LCA) ?
=+What different levels of commitment are there to sustainability?
=+How can an organisation benefit economically from pursuing sustainability?
=+What is environmental management accounting (EMA), and how can it be used to support an environmental management system (EMS)?
=+What sort of external reporting frameworks are there, and why are they important?
=+How does an emissions trading scheme (ETS) operate?
=+What impacts does an organisation have on its various stakeholders?
=+Why is it important to consider the interests of different stakeholders, and the interdependencies between them?
=+What does it mean for an organisation to be ‘sustainable’?
=+Regular assessment of employees’ environmental management skills 220 150 100 Trevor has heard about the importance of minimising external failure costs and he is very proud that his external
=+Fines incurred (external failure cost) — 1500 3000 Training in marine park regulations for new staff members 4500 2000 1000 Regular inspections to ensure that boat motors are not releasing oil
=+14-54 KKK Cost classification and relevant costs—incorporating environmental impact OBJECTIVE 9 Hinterland Feijoas produces a variety of products from feijoas (a type of fruit). Their product is
=+The drying process requires significant amounts of energy. Two alternatives are being considered. The first option, which is the standard process in the dried-food industry, is an electric dryer.
=+Sales price per package $4.55 $4.65 Projected annual sales 20 000 22 500 Capital investment—annual fixed cost (electric kiln or solar kiln) $4 500 $11 000 Electricity consumption per package 1.68
=+2 Assume that both the electric and the solar kiln will last for 10 years. Calculate the total profit for both options.
=+3 The price of electricity is expected to increase by 500% over the next 10 years. Calculate the profit for the electric kiln option in year one (where electricity is $0.136 per kWh) and year 10
=+4 Evaluate the two options and make your recommendation.
=+14-55 KK Life-cycle analysis and external reporting OBJECTIVES 8, 9 Jonsen and Kimble Ltd (JKL) produces babycare products. JKL prides itself on its commitment to environmental protection and many
=+M14_HORN3377_02_LT_C14.indd 578 2/09/13 3:55 PM national approach in 2000 to deal with dioxins that included measurement and reduction programs. In response JKL decided to outsource production to a
=+2 JKL is considering preparing GRI reports. Will JKL be required to report on the production of the nappies? Why or why not?
=+3 What options might be available to manage JKL’s environmental impact?
=+4 What arguments can you provide for JKL to incur additional costs to reduce the environmental impact of the production and disposal of their nappies, even though production and disposal are
=+14-56 KK Environmental cost classification and management OBJECTIVE 9 Trevor Jackson operates a chartered diving business out of Cairns that takes divers to remote areas of the Great Barrier
=+Trevor manages three boats that take approximately 900 divers to the reef each year. Each boat has five crew members. Turnover in the industry is high as master divers come from around the world to
=+9 Apply various management tools to support sustainability objectives
=+◗ Thirty trucks could be purchased, each with a capacity of 15 cubic metres. Each truck would cost $40000. The trucks consume 7 litres of petrol per 100 km driven. The same deliveries could be
=+14-14 What is ‘carbon sequestration’ and what incentives might organisations have for carbon sequestration?
=+3 Develop a strategy to minimise total environmental management costs.
=+2 Comment on the proportion of costs in each category, and the change over time.
=+Rush Resources Ltd (RR) is a gold mining company that operates mines throughout Queensland.Many of these mines are in pristine and environmentally sensitive parts of far-north Queensland.Of
=+In the same way that quality costs can be classified as prevention, appraisal, internal failure and external failure (see Chapter 16), so too can environmental costs. Classifying costs in this way
=+2 How can the needs of the rural customers be balanced against the importance of maintaining the profitability of the branches?
=+A number of regional councils (which cover the towns served by the small and large rural branches) have expressed concern over reports that AusBank is considering closing some of its 568 Chapter
=+14-15 Provide examples of social and environmental costs that would be incurred by an organisation but which are unlikely to be identified in the management accounting reports.
=+AusBank is examining the profitability of its branches. In particular, the profitability of small rural branches, large rural branches and suburban branches is being evaluated. Other banks have
=+2 Calculate the carbon dioxide emissions associated with the two valves over the 20 years.3 Identify additional information that you would need to manage the environmental impact.
=+Lost materials during installation (sludge that goes down the drain as the valve is changed over) 25 litres 25 litres Estimated production before replacement 5 000 litres 20 000 litres Hillspring
=+◗ It has been estimated that 20 kg of carbon dioxide is produced for each kilowatt-hour of energy used in the production of steel.The costs of the two valves are as follows:SSPV ERDV Initial
=+◗ The energy requirement for conversion (from iron ore to steel) is 20 kWh per gram of high-quality steel. For HD2, the energy required to extract the ore and process it is much higher at 100 kWh
=+◗ ERDV—contains 500 grams of high-quality steel; this valve also contains 200 grams of a special hardened coating material (HD2).
=+4 What additional environmental factors, that are not included in the cost table above, might be important in your decision? How might these factors be incorporated into the analysis and strategy?
=+5 What social impacts might be associated with a mining operation such as this?
=+14-13 Explain why it is difficult to identify and measure externalities.
=+14-12 Define the term ‘externality’ and provide an example.
=+14-11 Provide an example of a decision that would lead to an improvement in social, environmental and economic performance.
=+14-10 Provide an example of a decision that would require the managers to balance the competing objectives of social, environmental and economic performance.
=+14-9 Identify three business opportunities that have emerged with the increasing concern for the welfare of society.
=+14-8 Identify three business opportunities that have emerged with the increasing concern for the environment.
=+14-7 How might market forces create incentives for organisations to be more socially and environmentally responsible?
=+14-6 In what ways can environmental damage be seen as ‘market failure’?
=+14-5 Why is systems thinking so important for managing sustainability?
=+14-4 How does ‘systems thinking’ differ from conventional approaches to decision making?
=+14-3 Distinguish between inter- and intragenerational equity.
=+14-2 Explain what is meant by corporate social responsibility (CSR). How does your definition of CSR differ from sustainability?
=+14-1 Define sustainability.
=+Hillspring Chemicals Ltd is committed to reducing its environmental impact. As a public company, it also has a responsibility to make a profit for its shareholders. As part of its production
=+3 What additional social and environment benefits can be associated with the car-sharing cooperative?
=+2 Identify the total cost for each option for total kilometres of 4000 (2000); 12000 (6000); 20000(10000).
=+14-29 Explain the role of EMA in an EMS.
=+14-30 Identify the stages that an organisation might go through in its move towards greater sustainability.
=+14-31 Explain what ‘cradle to grave’ and ‘cradle to cradle’ mean in regard to LCA.
=+14-32 Explain how social and environmental concerns may be consistent or inconsistent with maximising shareholder wealth.
=+14-33 What incentives exist for organisations voluntarily to disclose their performance in accordance with the GRI?
=+14-34 What are the arguments for the broad coverage of social and environmental performance found in GRI reports? Can you think of any arguments against such broad requirements?
=+14-35 Why might the ‘invisible hand’, as Adam Smith described it, fail to achieve the optimal use of raw materials?
=+14-36 Explain how recognising and incorporating the costs of externalities into an organisation’s cost structure can change consumer behaviour.
=+14-37 How can social and environmental impacts be incorporated in the analysis of capital expenditure?
=+14-38 Waste associated with computers and printers is an increasing problem around the world. How might electronics manufacturers be involved in reducing the problem by applying Ray Anderson’s
=+14-39 KK Ecological footprint OBJECTIVES 1, 2 Go to and calculate your personal ecological footprint. What can you do to decrease your ecological footprint? What insights can you gain from this
=+14-40 KKK Sustainability issues OBJECTIVES 1, 2 Based on the definition of sustainability on page 542, identify some of the issues that would be particularly important for the following
=+14-41 KK Externalities OBJECTIVE 2 Provide examples of externalities associated with each of the following industries:a coal-fired electricity generation b universities c construction and real
=+14-28 Explain the key features of environmental management accounting (EMA).
=+14-27 Explain how life-cycle analysis (LCA) can be used to support an organisation’s efforts to be more sustainable.
=+Hourly rate for employee picking up the inventory $25.40 Last year the vehicle was driven 12000 kilometres. The vehicle’s fuel consumption is 8 litres per 100 kilometres. Rachel is planning on

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