The Following Information Is From The Manufacturing Budget

The Following Information Is From The Manufacturing Budget And The Bud

The following information is from the manufacturing budget and the budgeted financial statements of Fabor Fabrication: Compute the budgeted amounts for: a. Purchases of direct materials during the year. b. Cash payments during the year to suppliers of materials. E23.8 Sales on account for the first two months of the current year are budgeted as follows: All sales are made on terms of 2/10, n/30 (2% discount if paid in 10 days, full amount by 30 days); collections on accounts receivable are typically made as follows: Compute the estimated cash collections on accounts receivable for the month of February. E23.9 On March 1 of the current year, Spicer Corporation compiled information to prepare a cash budget for March, April, and May. All of the company’s sales are made on account. The following information has been provided by Spicer’s management: The company’s collection activity on credit sales historically has been as follows: Spicer’s total cash expenditures for March, April, and May have been estimated at $1,200,000 (an average of $400,000 per month). Its cash balance on March 1 of the current year is $500,000. No financing or investing activities are anticipated during the second quarter. Compute Spicer’s budgeted cash balance at the ends of March, April, and May. E24.2 The standard costs and variances for direct materials, direct labor, and factory overhead for the month of May are as follows: Determine the actual costs incurred during the month of May for direct materials, direct labor, and manufacturing overhead E24.4 Gumchara Corporation reported the following information with respect to the materials required to manufacture amalgam florostats during the current month: a. Determine Gumchara’s materials price variance. b. Determine Gumchara’s materials quantity variance. c. Will Gumchara’s overhead volume variance be favorable or unfavorable? Why? E24.6 Marlo Enterprises produces radon mitigation pumps. Information pertaining to the company’s monthly direct labor usage is provided below: a. Compute the company’s labor rate variance. b. Compute the company’s labor efficiency variance. c. An extremely large order of radon mitigation pumps was filled during the month for exportation to Saudi Arabia. Filling this order resulted in extended hours for many of the company’s workers. Which labor variance reflects the extra hours worked by Marlo’s employees? Was their time well utilized? Explain. I’m not sure if you have access to a database most of these reading can be found on jstor but you much have access in order to read them. I’ve tried downloading t6he pdf version of the reading but it does not allow me. Let me know if you have access or I would have to find another way to get you the readings. Also I think the crude awakening: the oil crash would be a great documentary to do this assignment on. It’s very informative and also it is happening present today. Readings: Sutherland, Edwin (1983) “Is ‘White-Collar Crime’ Crime?†in White-Collar Crime: The Uncut Version. pp. 45-62. New Haven, CT: Yale University Press. Tappan, Paul (1947) “Who is the Criminal?†American Sociological Review. 12(1): 96-102. Copeland, David (2010) “There is Filth on the Floor and It Must Be Scraped Up: The Muckrakers and Press of the Early 20th Century†pp. in The Media’s Role in Defining the Nation: The Active Voice. New York: Peter Lang. Sinclair, Upton (1981) The Jungle. Tucson, AZ: Sharp Press. pp. . Young, James Harvey (1989) “Combining and Crusading for a Law†Pure Food: Securing the Federal Food and Drugs Act of 1906. pp. . Princeton, NJ: Princeton University Press. Glasbeek, Harry (2007) “The Corporation as a Legally Created Site of Irresponsibility†in Henry Pontell and Gilbert Geis eds. International Handbook of White-Collar and Corporate Crime. New York: Springer. Scales, Ann (2009) “’Nobody Broke It, It Just Broke’: Causation as an Instrument of Obfuscation and Oppression†in David Engel and Michael McCann eds. Fault Lines: Tort Law as Cultural Practice. pp. . Stanford, CA: Stanford University Press. Jasanoff, Sheila (2002) “Science and the Statistical Victim: Modernizing Knowledge in Breast Implant Litigation†Social Studies of Science. 32(1): 37-70. Jentzen, Jeffrey (2009) “In Search of Reasonable Medical Certainty†in Death Investigation in America: Coroners, Medical Examiners, and the Pursuit of Medical Certainty. Cambridge, MA: Harvard University Press. McMullan, John (2006) “News, Truth, and the Recognition of Corporate Crime†Canadian Journal of Criminology and Criminal Justice. 48(6): . Raphael, Chad (2005) “The Privatization of Regulation†Investigated Reporting: Muckrakers, Regulators, and the Struggle over Television Documentary. University of Illinois Press. Lee, Matthew and David Ermann (2002) “Pinto Madness: Flaws in the Generally Accepted Landmark Narrative†in Corporate and Governmental Deviance. pp. . Accounting for Corporate Crime II: Political Economy Vaughan, Diane (2002) “The Challenger Space Shuttle Disaster: Conventional Wisdom and a Revisionist Account†in Corporate and Governmental Deviance. pp. . Snider, Laureen (2000) “The Sociology of Corporate Crime: An Obituary (or whose knowledge claims have legs?)†Theoretical Criminology. 4(2). . Tombs, Steve and Paddy Hillyard (2004) “Towards a Political Economy of Harm: States, Corporations, and the Production of Inequality†in Paddy Hillyard et al. (eds.) Beyond Criminology: Taking Harm Seriously. pp. 30-54. Halifax: Fernwood Publishing. Ouellette, Laurie and James Hay (2008) “Makeover Television, Governmentality, and the Good Citizen†in Tania Lewis ed. TV Transformations: Revealing the Makeover Show. London: Routledge. Harwood, Valerie (2008) “Theorizing Biopedagogies†in Jan Wright and Valerie Harwood eds. Biopolitics and the ‘Obesity Epidemic’ pp. 15-30. New York: Routledge.

Paper For Above instruction

Analysis on the Oil Crash and Corporate Crime

The oil industry has historically exemplified the complex interplay between corporate practices, economic influences, and regulatory oversight. The documentary "The Crude Awakening: The Oil Crash" highlights the ongoing vulnerabilities in global oil markets, shedding light on the systemic issues that lead to economic upheaval and environmental concerns. Understanding the intricacies of corporate crime within such industries requires a multidisciplinary approach, intertwining economic analysis, criminology, and media studies.

From a criminological perspective, white-collar crimes like corporate fraud, environmental violations, and regulatory manipulations play a significant role in shaping economic crises such as the oil crash. Edwin Sutherland's seminal work (1983) questions whether what is labeled as white-collar crime truly constitutes 'crime' in the moral and legal sense, emphasizing the importance of contextualizing corporate misconduct within broader societal and economic frameworks. The oil industry, often associated with clandestine practices and regulatory evasions, exemplifies the potential for corporate actors to prioritize profits over social and environmental well-being, leading to systemic risks and disasters (Glasbeek, 2007).

The documentary draws attention to the pervasive mismanagement and regulatory failures that contributed to the 2008 financial crisis, rooted in risky investment behaviors and lack of oversight. Similarly, in the oil industry, corporations have historically engaged in practices such as price fixing, pollution suppression, and lobbying efforts to influence policy, contributing to market instability. The ethical considerations surrounding corporate accountability are also discussed by Upton Sinclair (1981), who vividly depicted the exploitation inherent in industrial practices, urging a reevaluation of corporate morality.

The media has played a crucial role in highlighting these issues, as Copeland (2010) describes the muckraking tradition that exposes corporate misconduct and advocates for regulatory reforms. The power of investigative journalism has been instrumental in revealing the clandestine operations that led to environmental degradation and economic crises, emphasizing the importance of transparency and accountability in corporate practices. The documentary underlines how regulatory capture and deregulation have facilitated corporate abuse, creating a cycle where adverse outcomes, such as oil spills and market crashes, become inevitable consequences (Tombs & Hillyard, 2004).

The legal frameworks established through landmark legislation, such as the Federal Food and Drugs Act of 1906 discussed by Young (1989), set precedents for regulatory intervention. However, enforcement inconsistencies often allow corporations to escape liability. The concept of corporate irresponsibility, as explored by Glasbeek (2007), underscores the need for stronger legal tools to address systemic misconduct. The oil crash illustrates how corporate malfeasance and regulatory complacency can precipitate widespread harm, necessitating comprehensive reforms that align profits with social responsibility.

Furthermore, criminologists like Vaughan (2002) have examined the societal consequences of corporate disasters, arguing that state and corporate collusions exacerbate harm. The Challenger disaster and the BP oil spill serve as stark reminders of how corporate negligence, coupled with regulatory failures, can result in catastrophic outcomes. Theories from the sociology of corporate crime, such as those proposed by Snider (2000), suggest that corporate entities often operate within a framework that tolerates risk-taking at the expense of worker safety and environmental integrity.

In conclusion, the ongoing oil crisis exemplifies the destructive potential of unchecked corporate power and regulatory failure. The integration of criminological theory, media critique, and legal analysis reveals a pattern of systemic misconduct that demands rigorous oversight and accountability. As the documentary "The Crude Awakening" demonstrates, addressing corporate crime in the oil industry requires a multifaceted approach—strengthening legal frameworks, enhancing transparency, and cultivating a culture of corporate responsibility that prioritizes sustainability over profit.

References

• Sutherland, Edwin (1983). “Is ‘White-Collar Crime’ Crime?” in White-Collar Crime: The Uncut Version. Yale University Press.
• Sinclair, Upton (1981). The Jungle. Sharp Press.
• Glasbeek, Harry (2007). “The Corporation as a Legally Created Site of Irresponsibility,” in Henry Pontell and Gilbert Geis (eds.), International Handbook of White-Collar and Corporate Crime. Springer.
• Copeland, David (2010). “There is Filth on the Floor and It Must Be Scraped Up,” in The Media’s Role in Defining the Nation: The Active Voice. Peter Lang.
• Tombs, Steve & Paddy Hillyard (2004). “Towards a Political Economy of Harm,” in Paddy Hillyard et al. (eds.), Beyond Criminology: Taking Harm Seriously. Fernwood Publishing.
• Vaughan, Diane (2002). “The Challenger Space Shuttle Disaster: Conventional Wisdom and a Revisionist Account,” in Corporate and Governmental Deviance.
• Snider, Laureen (2000). “The Sociology of Corporate Crime: An Obituary,” Theoretical Criminology.
• Ouellette, Laurie & James Hay (2008). “Makeover Television, Governmentality, and the Good Citizen,” in Tania Lewis (ed.), TV Transformations: Revealing the Makeover Show. Routledge.
• Jasanoff, Sheila (2002). “Science and the Statistical Victim,” Social Studies of Science, 32(1), 37-70.
• Harwood, Valerie (2008). “Theorizing Biopedagogies,” in Jan Wright & Valerie Harwood (eds.), Biopolitics and the ‘Obesity Epidemic’. Routledge.