ACTG 2020 Lecture Notes - Lecture 6: Activity-Based Costing, Profit Maximization, Income Statement
15 Mar 2016
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Document Summary
Goals: since woodward farm inc. became incorporated in 2012, its goal is to achieve profit maximization and ultimately, international expansion. Woodward farm was able to be one of the leading producers of farming equipment and supplies. Competitive advantage: woodward farm inc. "s new automated plant provides a competitive edge to its business because it enables the company to drive down its direct labour costs. This results in bringing down the time to produce az42s to 2 hours and az45s to 3 hours. Despite this, the new automated plant enables the company to produces its products much cheaper than its competition (taylor company for ex. Key stakeholders: the main stakeholder is mr. johnson, the owner of woodward farm inc. as the decisions made by this stakeholder can affect the managerial decisions made within the company. The objectives of this stakeholder is to achieve profit maximization and international expansion. Another stakeholder is alex and the other executives.
