1. What is the ethical issue? What are my options? What are the possible consequ
ID: 2447103 • Letter: 1
Question
1. What is the ethical issue? What are my options? What are the possible consequences?
2. Refer to the IMA’s Statement of Ethical Professional Practice. List the four broad areas of ethical standards by which members must comply.
3. Assume that Ms. Dunn goes forward with the proposed budget including the 15% increased slack in the budgeted amounts for labor and supplies.. In this scenario, which of the four areas Of the IMA’s Statement of Ethical Professional Practice would be violated by Ms. Manning’s behavior? Be specific and adequately explain your conclusion. If you do not believe that a particular standard is violated under this scenario, state the reasons for your conclusion. You must include all four ethical standards in your answer to this part.
4. What would you do in this situation and why?
Ethical Issue 22-1 Southeast Suites operates a regional hotel chain. Each hotel is operated by a man- ager and an assistant manager/controller. Many of the staff who run the front desk, clean the rooms, and prepare the breakfast buffet work part-time or have a second job, so employee turnover is high Assistant manager/controller Terry Dunn asked the new bookkeeper to help prepare the hotel's master budget. The master budget is prepared once a year and is submitted to company headquarters for approval. Once approved, the master bud- get is used to evaluate the hotel's performance. These performance evaluations affect hotel managers' bonuses, and they also affect company decisions on which hotels deserve extra funds for capital improvements. When the budget was almost complete, Dunn asked the bookkeeper to in- crease amounts budgeted for labor and supplies by 15%. When asked why, Dunn responded that hotel manager Clay Murry told her to do this when she began working at the hotel. Murry explained that this budgetary cushion gave him flex ibility in running the hotel. For example, because company headquarters tightly controls capital improvement funds, Murry can use the extra money budgeted for labor and supplies to replace broken televisions or pay "bonuses" to keep valued employees. Dunn initially accepted this explanation because she had observed simi lar behavior at the hotel where she worked previously broken televisions or pay "bonuses" to keep valuedExplanation / Answer
ANSWER:
The best guess for the population mean is 48.5 hours per week, and about 95% of
all employees are within 2 standard deviations of this, where we are almost sure (99% sure) that this standard deviation is between 5.9 and 10.1. But even if the standard deviation is only 5.9, then 48.5 standard deviations will produce the range 36.7 to 60.3. Maybe management should be concerned.
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