It may be tempting to conclude that manufacturers are in a perpetual quest to lower...
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Accounting
It may be tempting to conclude that manufacturers are in a perpetual quest to lower their standard raw material cost per unit. However, that is not the case in the food industry where many customers are demanding to know more about what is in their food, how it is produced, and where it comes from. In fact, customers are often willing to pay price premiums for organically and sustainably grown foods that may cost more to produce.
(source: Wall Street Journal, 3/13/2016)
- What are your thoughts about this from an accounting standpoint?
- What are your thoughts about this as a consumer? Do you prefer organic and/or sustainable options? Are you willing to pay more for your preference?
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