Consider the following costs: (A) Safety tests for a future production type (B) Fines for releasing...

Consider the following costs:
(A) Safety tests for a future production type
(B) Fines for releasing toxic chemicals into the ocean
(C) Employee health and safety problems arising from a leak in a chemical plant
(D) Temperature monitoring systems in a heating vat, to ensure employees are working in safe conditions.
(E) Fines for breaching occupational health and safety standards for employees.
(F) Fines for breaching environmental emission levels from plant operations.
Required
Identify and explain the environmental cost type of each of the above costs (prevention, appraisal, internal failure or external failure costs).

could u teach me the whole solutions of this question??plz

Solutions

Expert Solution

Thank you...

ekkarill92 answered 1 year ago

Next > < Previous

Related Solutions

Consider the following costs associated with pharmaceutical drug production. Which of the following are variable costs...

Consider the following costs associated with pharmaceutical drug production. Which of the following are variable costs and which are fixed costs? a) Research and development b) Manufacturing costs c) Market costs

Consider the following production function q = K a L b. Assume that a+b>1. Assume that...

Consider the following production function q = K a L b. Assume that a+b>1. Assume that the firm takes price of labor w, price of capital r and price of the final product p as given and minimizes costs to produce a given level of output q. Find the share of labor cost in total value of the product wL/pq as a function of q, input prices, a and b (there should not be p in your function). How does...

The shape of a PPC illustrates the type of opportunity costs involved in production. What type of costs do PPC1 and PPC2 illustrate?

Use the graphs to answer the question below.The shape of a PPC illustrates the type of opportunity costs involved in production. What type of costs do PPC1 and PPC2 illustrate?(A) PPC1 illustrates constant opportunity costs and PPC2 illustrates increasing opportunity costs.(B) PPC1 illustrates constant opportunity costs and PPC2 illustrates decreasing opportunity costs.(C) PPC1 illustrates increasing opportunity costs and PPC2 illustrates decreasing opportunity costs.(D) PPC1 illustrates increasing opportunity costs and PPC2 illustrates constant opportunity costs.(E) PPC1 illustrates decreasing opportunity costs and...

4) Consider two medical tests, A and B for a virus. Test A is 90% effective...

4) Consider two medical tests, A and B for a virus. Test A is 90% effective at recognizing the virus when it is present, but has a 5% false positive rate. Test B is 80% effective at recognizing the virus when it is present, but only has a 1% false positive rate. The two tests are independent (i.e., they use different means for identifying the virus). The virus is carried by 2% of all people. If you could use only...

Classifying Costs The following is a list of costs that were incurred in the production and...

Classifying Costs The following is a list of costs that were incurred in the production and sale of large commercial airplanes: Classify each cost as either a product cost or a period cost. Indicate whether each product cost is a direct materials cost, a direct labor cost, or a factory overhead cost. Indicate whether each period cost is a selling expense or an administrative expense. Costs Classification a. Cost of electronic guidance system installed in the airplane cockpit b. Special...

Classifying Costs The following is a list of costs that were incurred in the production and...

Classifying Costs The following is a list of costs that were incurred in the production and sale of large commercial airplanes: Classify each cost as either a product cost or a period cost. Indicate whether each product cost is a direct materials cost, a direct labor cost, or a factory overhead cost. Indicate whether each period cost is a selling expense or an administrative expense. Costs Classification a. Salary of chief compliance officer of company b. Power used by painting...

Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department...

Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $105,410 of direct materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 8,300 units, 30% completed 114,125 30 Direct materials, 76,000 units 942,400 1,056,525 30 Direct...

Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department...

Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for November. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $115,200 of direct materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Nov. 1 Bal., 9,000 units, 70% completed 137,880 30 Direct materials, 82,000 units 1,033,200 1,171,080 30 Direct...

Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department...

Costs per Equivalent Unit and Production Costs The following information concerns production in the Forging Department for September. All direct materials are placed into the process at the beginning of production, and conversion costs are incurred evenly throughout the process. The beginning inventory consists of $52,070 of direct materials. ACCOUNT Work in Process—Forging Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Sept. 1 Bal., 4,100 units, 30% completed 54,899 30 Direct materials, 37,000 units 458,800 513,699 30 Direct...

Consider a project that costs $5000 and has an expected future cash flow of $1000 per...

Consider a project that costs $5000 and has an expected future cash flow of $1000 per year for 20 years. If we wait one year, the cost will increase to $5500 and the expected future cash flow will increase to $1200. If the required return is 13%, should we accept the project? If so, when should we begin? Thank you.

Subjects