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Question 1(40 marks) Corvine Corporation makes two types of motors for use in various products. Operating data and unit cost information for its products are
Question 1(40 marks) Corvine Corporation makes two types of motors for use in various products. Operating data and unit cost information for its products are presented next. Product A Product B Annual unit capacity 10,000 20,000 Annual unit demand 10,000 20.000 Selling price Variable manufacturing cost Fixed manufacturing cost Variable selling and administrative Fixed selling and administrative Fixed other administrative Unit operating profit $100 53 10 10 5 2 $20 $80 45 10 11 4 0 $10 49949 Machine hours per unit 2.0 1.5 Corvine has 40.000 productive hours available. Required Calculate the relevant contribution margin, per machine hour for each product, to be utilized in making a decision on product priorities for the coming year. Question 2( 20 marks) a- Provide brief information about the IMA (Institute Of Management Accountants), its history, mission, vision, core values , conditions for membership etc.(not more than 200 words) (10 marks) b- Identify the ethical principles& standardsthat should guide the work of a Management accountant. (Refer to the Statement of Ethical Professional Practice) (10 marks)
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