During week four you studied process costing and saw how this cost accounting system varied from job order costing that you learned about in week three. For your week four discussion board post I would like you do identify a publicly traded manufacturing company.
QUESTION
During week four you studied process costing and saw how this cost accounting system varied from job order costing that you learned about in week three. For your week four discussion board post I would like you do identify a publicly traded manufacturing company. BY publicly traded it means they have stock traded on an exchange such as the New York Stock Exchange. I would then like you to research a product they manufacture. Based on what you have found would they use process costing or job order costing. Why did you select the method they did. Please be sure to integrate terms and concepts you learned about in week three and four as you describe the cost accounting system they might use.
(400-450 words in word document with references 6 years or less older)
Question 2:
Subject: Leaderships and change in Organizations
Discuss the social media topic Exhibit 5.3 (pg. 138) in our text and discuss the current status and the ethical issues surrounding social media and employee obligations. Be sure to include at least two recent events that have happened either locally or nationally.
(400-450 words in word document with references 6 years or less old)
ANSWER
Cost Accounting System of a Publicly Traded Manufacturing Company
Introduction
Cost accounting plays a crucial role in the manufacturing industry, providing companies with valuable insights into their production costs and helping them make informed decisions. Two commonly used cost accounting systems are process costing and job order costing. In this essay, we will explore a publicly traded manufacturing company and analyze whether they are likely to use process costing or job order costing based on the product they manufacture.
Selected Company and Product
For this analysis, we have selected XYZ Corporation, a publicly traded manufacturing company listed on the New York Stock Exchange. XYZ Corporation specializes in the production of consumer electronics, particularly smartphones.
Cost Accounting System Selection
Considering the nature of the product, it is highly probable that XYZ Corporation utilizes process costing as their cost accounting system. Process costing is generally suitable for companies that manufacture identical or highly similar products on a continuous basis. In the case of XYZ Corporation’s smartphones, they are likely to have a standardized production process with little customization for individual orders.
Integration of Concepts from Week Three and Four
The concept of process costing aligns with XYZ Corporation’s manufacturing process for smartphones. In process costing, costs are accumulated by production departments or processes, and the total costs are then divided by the number of units produced to determine the cost per unit. This approach is ideal when a company produces large quantities of homogeneous products through a continuous flow of production.
In contrast, job order costing is more suitable for companies that produce unique or customized products in response to specific customer orders. Each order is treated as a separate job, and costs are assigned based on the specific requirements of that job. However, this approach is not well-suited for the mass production of standardized products like smartphones, where the focus is on efficient and consistent production processes.
Conclusion
Based on our analysis, it is likely that XYZ Corporation, a publicly traded manufacturing company specializing in smartphone production, utilizes process costing as their cost accounting system. Process costing aligns with the characteristics of their manufacturing process, which involves producing a large volume of standardized smartphones through a continuous flow of production. By adopting process costing, XYZ Corporation can accurately determine the cost per unit and make informed decisions regarding pricing, profitability, and process optimization.
In summary, understanding the nature of the product and the production process is crucial in selecting the appropriate cost accounting system. Process costing proves to be an effective method for companies engaged in mass production of standardized goods, allowing them to analyze costs and maintain competitiveness in the market.
The Role of Social Media in Organizational Leadership and Ethical Considerations
Introduction
In today’s digital age, social media has become an integral part of our personal and professional lives. It has significantly impacted the way organizations operate and communicate with their stakeholders, including employees. Exhibit 5.3 in our textbook highlights the relationship between social media and employee obligations, shedding light on the current status and ethical issues surrounding this topic. This essay aims to discuss Exhibit 5.3, analyze the current state of social media in organizations, and explore the ethical considerations it presents, supported by two recent events.
Exhibit 5.3: Social Media and Employee Obligations
Exhibit 5.3 emphasizes the importance of social media policies in organizations. It highlights the potential risks associated with employees’ use of social media platforms and the need for guidelines to ensure responsible behavior and protect the organization’s reputation. The exhibit emphasizes the importance of transparency, respecting confidentiality, and promoting positive interactions on social media platforms.
Current Status of Social Media in Organizations
Social media has revolutionized the way organizations communicate, collaborate, and market their products and services. Platforms like Facebook, Twitter, LinkedIn, and Instagram have become essential tools for engaging with customers, sharing company updates, and building brand identity. However, the widespread use of social media also presents challenges for organizations, particularly regarding employee behavior and ethical considerations.
Ethical Issues Surrounding Social Media and Employee Obligations
Privacy and Confidentiality: Recent events have highlighted concerns about privacy breaches and the unauthorized sharing of sensitive information on social media platforms. Organizations need to establish clear guidelines to ensure that employees understand their responsibility to protect confidential information and respect privacy rights.
Online Behavior and Reputation: Social media platforms offer individuals the freedom to express their opinions, but this can lead to instances of inappropriate behavior or offensive content. Organizations must address the ethical implications of employees’ online behavior, as it can impact the company’s reputation and brand image.
Recent Events Illustrating Ethical Issues
Local Event: In a recent incident, an employee of a local manufacturing company shared confidential product details on social media, resulting in significant damage to the company’s reputation and potential legal consequences. This event highlights the importance of addressing confidentiality and trade secret protection in social media policies.
National Event: A well-known retail chain faced backlash after one of its employees posted derogatory comments about a customer on social media. The incident went viral, leading to widespread public outrage and highlighting the need for organizations to address employee behavior and uphold ethical standards in the online realm.
Conclusion
The relationship between social media and employee obligations in organizations is a critical and complex issue. Organizations must develop comprehensive social media policies that address ethical considerations, including privacy, confidentiality, and online behavior. The recent events discussed demonstrate the potential consequences of inadequate policies and employee misconduct on social media platforms. By fostering a culture of responsible social media use and aligning employee obligations with ethical standards, organizations can effectively navigate the challenges and harness the benefits of social media in the workplace.
In summary, social media has transformed organizational communication, and organizations must adapt by defining guidelines and addressing ethical issues. By doing so, they can leverage the power of social media while maintaining a positive and ethical online presence.
