Marge also serves as an outside director on the board of directors of Cellular Information Systems (CIS). CIS has five members on its board and approximately 500 shareholders. During a special meeting of directors of CIS, all five directors present voted to declare a $100,000 cash dividend. However, three of the directors learned through their position as CIS officers that CIS had just lost a customer who was its chief source of revenue. This information was not disclosed at the meeting, although all the other board members asked numerous questions about the financial situation of the company. Discuss the legal basis, if any, on whether each of the CIS directors can be held personally liable.

The production manager of rordan corporation has submitted the following quarterly production forecast for the upcoming fiscal year: 1st quarter 2nd quarter 3rd quarter 4th quarter units to be produced 10,800 8,500 7,100 11,200 each unit requires 0.25 direct labor-hours, and direct laborers are paid $20.00 per hour. required: 1. prepare the company’s direct labor budget for the upcoming fiscal year. assume that the direct labor workforce is adjusted each quarter to match the number of hours required to produce the forecasted number of units produced. 2. prepare the company’s direct labor budget for the upcoming fiscal year, assuming that the direct labor workforce is not adjusted each quarter. instead, assume that the company’s direct labor workforce consists of permanent employees who are guaranteed to be paid for at least 2,500 hours of work each quarter. if the number of required direct labor-hours is less than this number, the workers are paid for 2,500 hours anyway. any hours worked in excess of 2,500 hours in a quarter are paid at the rate of 1.5 times the normal hourly rate for direct labor.