SITXHRM009 Assessment 2 -Project
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SITXHRM009
Lead and Manage People
Assessment Task 2 – Project
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 1
Assessment Tasks and Instructions Student Name
Subhanshi Dhami
Student Number
CBC230065
Course and Code
Unit(s) of Competency and Code(s)
SITXHRM009 Lead and manage people
Stream/Cluster
Trainer/Assessor
Patrick
Assessment for this Unit of Competency/Cluster
Details
Assessment 1
Short Answers
Assessment 2
Project
Assessment 3
Practical Observation
Assessment conducted in this instance: Assessment 1 2 3 Reasonable Adjustment
1.
Has reasonable adjustment been applied to this assessment?
No No further information required
Yes Complete 2. 2.
Provide details for the requirements and provisions for adjustment of assessment:
Student to complete
My assessor has discussed the adjustments with me
I agree to the adjustments applied to this assessment
Signature
Date
2
nd
Assessor to complete
I agree the adjustments applied to this assessment are reasonable
Name
Signature
Date
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 2
Assessment Guidelines
What will be assessed
The purpose of this assessment is to assess your underpinning knowledge to complete the tasks outlined in the elements and performance criteria for this unit of competency and relating to the following aspects:
roles of and functions performed by supervisors and managers:
o
decision making
o
delegating tasks
o
monitoring staff
o
planning and organising
o
providing information:
organisation performance
changes in organisational policies
marketing information and targets
overall organisational objectives
plans for new equipment
rationale for management decisions
technology updates
training developments
expectations, roles and responsibilities of team members:
o
adhering to policies and procedures
o
cooperative and open communication
o
nature and scope of work
o
relationships with others in the workplace and interdependent areas of activity
o
reporting requirements
considerations in the individual development of staff:
o
change in job responsibilities
o
external training and professional development
o
formal promotion
o
internal training and professional development
o
opportunity for greater autonomy or responsibility
features of different leadership styles
features of open and supportive communication
characteristics of effective leadership
principles of teamwork and:
o
characteristics of effective teams
o
roles and attributes of team members
o
organisation of teams
o
potential team problems
o
benefits of effective teamwork
role and theories of motivation as they apply to the management of individuals and teams
the role of group dynamics in successful team management
forms of recognition and reward applicable to leading staff:
o
acknowledging individual good performance to the whole team
o
incentive initiatives
o
informal acknowledgement
o
presenting awards
o
written reports to management
types of organisational plans and planning processes.
Place/Location where assessment will be conducted
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 3
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RTO to complete
Resource Requirements
Pen, Paper or computer Instructions for assessment including WHS requirements
The assessment task for this project consists of 2 parts, Part A and Part B.
For Part A
you are required to select a scenario provided in this assessment which most closely resembles your sector in the TH&E industry.
Based on the chosen sector you are required to demonstrate your ability to:
1.
Set and measure KPIs.
2.
Use new or innovative approaches to meet the KPIs.
3.
Define constraints to meeting KPIs.
4.
Know what to do if KPIs are not met.
5.
Use appropriate methods of communication.
For Part B you are required to establish a set of evaluation criteria to monitor and evaluate the performance of staff. The following points need to be developed for Part B:
a.
Set job responsibilities and tasks
b.
Relate job responsibilities to specific performance indicators
c.
Employee feedback collection
d.
Professional development opportunities
e.
Bonus and reward systems
f.
Provide employees with feedback
g.
Delegating tasks
You are required to address all questions to achieve competence. Your trainer will provide you with instructions for time frames and dates to complete this assessment.
Once completed, carefully read the responses you have provided and check for completeness. Your trainer will provide you with feedback and the result you have achieved. The responses provided in this project will form a basis for a practical observation for Assessment 3.
Statement of Authenticity
I acknowledge that I understand the requirements to complete the assessment tasks
The assessment process including the provisions for re-submitting and academic appeals were explained to me and I understand these processes
I understand the consequences of plagiarism and confirm that this is my own work and I have acknowledged or referenced all sources of information I have used for the purpose of this assessment
Student Signature: Date: / /201
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 4
This assessment:
First Attempt 2nd Attempt Extension –
Date: / / RESULT OF ASSESSMENT
Satisfactory Not Yet Satisfactory Feedback to Student:
Assessor(s) Signature(s):
Date:
/ /
Student Signature
Date:
/ /
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 5
Assessment 2
Your Tasks:
Part A – Setting managing and communicating Key Performance Indicators
For this assessment you are required to consider a scenario from your industry and then set key performance indicators (KPIs) based on this scenario. You will need to consider the business reasons for the KPIs, look at what the current KPIs are and set target KPIs to be achieved.
You will then need to:
1.
Set and measure KPIs.
2.
Use new or innovative approaches to meet the KPIs.
3.
Define constraints to meeting KPIs.
4.
Know what to do if KPIs are not met.
5.
Use appropriate methods of communication.
If more space is required for any answer you can attach a separate page containing name, assessment date, unit title unit code and the assessment task number and attach this page with the current assessment task before submission.
Please choose ONE
of the following scenarios which most closely resembles your industry.
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 6
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Hospitality Scenario:
You are the supervisor of the Food and Beverage Service Team and have just returned from your monthly management meeting.
Mr. McElm, the new GM has reviewed the Sales and Customer service history from the past 12 months and accordingly developed and set new targets to improve the organisation’s customer service provisions and sales targets. The following aspects will need to be addressed in the F&B section:
Current Targeted
EXAMPLE ONLY: The average per head spend currently sits at $23.00. EXAMPLE ONLY: Increase average spend to $26.50
The feedback received per 5000 customers shows 250
(5%) customers were dissatisfied with product and service provisions Improve product and service provisions pro-actively with a target of 98% within 9 months.
There have been 37 errors or discrepancies with customer accounts/wrong orders during the past 12 months which resulted in $3,950.00 of losses
Maximum discrepancies must not exceed $100.00 per month – F&B manager must be informed immediately
There have been 16 complaints related to cleanliness of glassware/crockery during the past 5 months
No complaints related to cleanliness of glassware/crockery are acceptable – procedures must be implemented to ensure this.
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 7
Tourism Scenario:
As the team leader at Bulga Bulga adventure tours you are responsible for overseeing the promotion, booking and tour guide teams of guided bus tours in outback Australia.
The managing director has set business targets he would like to see achieved over the next 12 months. They are:
Current Targeted
On average, only 50 of our 320 customers per month are repeat customers.
Increase number of repeat customers to 70 per month. In customer feedback surveys only 45% of people say they are happy with the catering on the tours.
Increase percentage of positive customer surveys to 75% Commissions from bookings through our partner agencies made up $15,000 on average per month.
Increase partner agency commissions to $20,000 per month. Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 8
Events Scenario:
You are the Team Leader of the Events Management team and have received an email from your Managing Director. Part of the email reads:
------
Good Morning,
I need to draw your attention to some problems that have recently come to my attention.
On the eventmanagement.com website, our company has received 14 poor reviews out of 22. This means only 37% of people are giving positive reviews. In my opinion anything less than 80% of positive reviews is unacceptable. The 2 most common reasons given for the poor reviews are the poor quality of catering, and that events did not run on time.
We know from our own customer feedback that our customers are generally very happy with our service, so I believe getting more of our happy customers to post would be a great advantage and boost our ranking on the site. As we have almost 50 customers per month I would like to see at least half of these encouraged to post positive reviews online.
Also, our repeat customer figures show that only 5 of our 50 customers last month were from repeat business. I would like to see this increase from 10% to the industry average of 20%.
As team leader, I am relying on you to make the team aware of the problems, set targets for improvement, and see that they are achieved over the next 6 months.
Regards,
Ed Ventura,
MD.
From this email the goals are:
Current Targeted
37% of people are giving positive reviews on eventmanagement.com
Increase percentage of positive reviews to 80%
Unknown
Get 25 new reviews posted per month on eventmanagement.com
10% of customers come from repeat business.
Increase percentage of repeat customers to 20%.
1.
Set and measure KPIs
NOTE:
Please choose ONE
of the previous scenarios which most closely resembles your industry to set the Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 9
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following KPIs.
Based on the chosen scenario, create 3 KPIs to help you monitor and manage the department. Model Hospitality KPIs KPI 1:
KPI Name:
Decrease the number of customers unhappy with the provided quality and services.
KPI Description:
Set a goal to enhance the quality of food, beverages, and service.
Current:
According to the survey, only 37% of customers left positive reviews, while the rest left negative ones.
KPI Target:
Increase customer satisfaction from 37% to 80% How you will measure this KPI?
Over what time frame?
Collect customer feedback on services or products through email surveys and the company website over the next six month
KPI 2:
KPI Name:
Minimize financial losses due to incorrect orders.
KPI Description:
Document all orders that are completed correctly.
Current:
Incorrect orders over the past year have led to a loss of $3,950.00.
KPI Target:
Ensure that monthly discrepancies do not surpass $100.00.
How you will measure this KPI?
Over what time frame?
The Food and Beverage manager should meticulously verify that the items ordered are correct and maintain a record each time.
KPI 3:
KPI Name:
Address the cleanliness of glassware.
KPI Description:
Eliminate customer complaints regarding this issue.
Current:
There have been 16 complaints about dirty glassware in the last five months.
KPI Target:
Implement procedures to ensure there are no complaints.
How you will measure this KPI? Over what time frame?
Staff must inspect the cleanliness of glassware before giving them to customers each day.
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 10
Model Tourism KPIs KPI 1:
KPI Name:
KPI Description:
Current:
KPI Target:
How you will measure this KPI?
Over what time frame?
KPI 2:
KPI Name:
KPI Description:
Current:
KPI Target:
How you will measure this KPI?
Over what time frame?
KPI 3:
KPI Name:
KPI Description:
Current:
KPI Target:
How you will measure this KPI?
Over what time frame?
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 11
Model Events KPIs KPI 1:
KPI Name:
Percentage of Positive Reviews on event management
KPI Description:
This KPI measures the percentage of positive reviews received on event
management indicating customer satisfaction with our events.
Current:
37%
KPI Target:
Increase to 80%
How you will measure this KPI?
Over what time frame?
Calculate the percentage of positive reviews out of the total reviews received on
event management.com each month. Monitor monthly progress over the next 6
months.
KPI 2:
KPI Name:
Number of Positive Reviews Posted per Month on event management
KPI Description:
This KPI tracks the number of positive reviews posted on event management
reflecting customer satisfaction and engagement.
Current:
14 poor reviews out of 22 total reviews
KPI Target:
Encourage at least 25 positive reviews per month
How you will measure this KPI?
Over what time frame?
Count the number of positive reviews posted on event management.com each
month.Monitor monthly progress over the next 6 months.
KPI 3:
KPI Name:
Percentage of Repeat Customers
KPI Description:
This KPI measures the percentage of customers who return for repeat business, indicating customer loyalty and satisfaction.
Current:
10%
KPI Target:
Increase to 20%
How you will measure this KPI?
Over what time frame?
Calculate the percentage of repeat customers out of the total number of customers each month. Monitor monthly progress over the next 6 months.
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 12
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2.
New or innovative approaches to meet the KPIs
For each KPI, outline the steps that you think need to be taken to achieve the KPI. You might need to employ
innovative approaches (procedures, processes, systems, technology, etc) to make sure that you and your team achieve each KPI.
KPI Target
Steps involved to achieve this KPI.
Increase total sales per head from $23 to $26.50 per head.
Selling drinks is key to increasing sales per customer. Wait staff need be pro-active;
Knowledge of specials and menus.
Employing suggestive selling methods.
KPI Target 1
Train our catering staff on how to effectively communicate with customers to meet service standards.
Collaborate with our kitchen team to ensure customers have an exceptional experience.
Monitor the flow of food in and out of the kitchen and the production time for each dish.
KPI Target 2
Record all completed orders each month, including those delivered on time, late,
failed, or cancelled.
Enhance order verification processes and provide additional training for staff on data
and account management.
Upgrade the receiving system promptly.
KPI Target 3
Develop new cleaning protocols.
Show all staff the correct cleaning methods.
Ensure glassware is cleaned using a polishing cloth.
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 13
3.
Constraints to meeting KPIs.
What could prevent you (organisational constraints) from implementing these new techniques? What needs to be considered?
The company's strict system might stop us from using new technologies; Using technology can help improve the company's image on social media and boost teamwork between departments to serve customers better and use new technology, we need time for careful analysis and teamwork to pick the right technology for the right reasons. We need to analyse our work data to make sure it is effective, since our employees are crucial for using new technologies, we must include them in all steps.
4.
What to do if KPIs are not met.
What will you do if you identify that staff members struggle or do not achieve the set targets? Think about the technique you would use to find where the problem lies, who you would communicate with and the steps involved in finding a solution.
When staff members are not performing well, include them in setting their own performance goals. Ask them how they want to improve, what they want to achieve, and what new skills they want to learn.
KPIs should be realistic goals, and be ready for the possibility of not meeting them. Set goals with a specific time frame. Choose the main KPI and break it down into monthly or yearly goals. Use feedback to show team members their progress. This can be part of the formal review process where employees and supervisors discuss work progress. If the employee is doing well, the feedback should be positive. If there are issues, the feedback should be constructive.
Work with employees to create SMART (specific, measurable, achievable, relevant, time-bound) goals for improvement. This approach helps staff better achieve their performance goals and provides coaching and guidance as needed. After setting performance goals, arrange follow-up steps to regularly check on progress.
5.
Methods of communication.
What methods of communication will you use to communicate the KPIs to your team?
Email - Share KPI report with team
Better communication with the team
Conference - use slide presentations to introduce KPIs
Official Websites
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 14
Part B – Performance Review
Performance reviews are used by managers and supervisors to give and receive feedback from staff.
In this part of the assessment you will create a set of evaluation criteria to monitor and evaluate your staff. You will need to:
a.
Set Job Responsibilities and Tasks
b.
Relate job responsibilities to specific performance indicators
c.
Employee Feedback
d.
Professional Development
e.
Bonus and Reward Systems
f.
Provide employees with feedback
g.
Delegating tasks
a.
Set Job Responsibilities and Tasks
Choose one Job Role within your department and document the responsibilities for that job role. Use the following example as a guide:
EXAMPLE: Roles and responsibilities
JOB TITLE
Responsibilities Head waiter
Provide table service to tables.
Abide by responsible service of alcohol laws.
Comply with all workplace health and safety guidelines.
Train junior staff on customer service and upselling techniques.
Act as a positive role model by offering excellent customer service.
Supervise junior staff during table service.
Monitor billing and payments of orders during service.
Delegate job tasks to other waiting staff. Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 15
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JOB TITLE:
Responsibilities Head waiter
Provide table service to tables.
Abide by responsible service of alcohol laws.
Comply with all workplace health and safety guidelines.
Train junior staff on customer service and upselling techniques.
Act as a positive role model by offering excellent customer service.
Supervise junior staff during table service.
Monitor billing and payments of orders during service.
Delegate job tasks to other waiting staff. Head chef
Plan Menus: Decide what dishes will be served.
Supervise Cooking: Make sure all food is prepared correctly.
Order Supplies: Ensure the kitchen has enough ingredients and equipment.
Train Staff: Teach kitchen staff how to cook and handle food.
Ensure Cleanliness: Keep the kitchen clean and follow health and safety rules.
Manage Budget: Keep track of the kitchen’s expenses and stay within budget.
Create Recipes: Develop new and exciting dishes.
Quality Control: Check that all dishes are of high quality before they are served.
Duty Manager
Plan Menus: Decide what food and drinks will be offered.
Manage Staff: Hire, train, and schedule employees.
Ensure Quality: Make sure all food and drinks are of high quality.
Control Budget: Keep track of expenses and make sure the department stays within budget.
Order Supplies: Ensure the restaurant has enough food, drinks, and equipment.
Customer Satisfaction: Handle customer complaints and ensure they are happy.
Oversee Cleanliness: Make sure the dining areas and kitchen are clean and meet health
standards.
Promote Specials: Plan and advertise special offers or events to attract customers.
Server Capitan
Train Servers: Teach new servers how to do their jobs well.
Schedule Shifts: Plan work schedules for servers.
Ensure Customer Satisfaction: Make sure customers are happy with their service.
Supervise Staff: Oversee the servers during their shifts to ensure smooth operation.
Handle Complaints: Address and resolve any customer complaints.
Maintain Cleanliness: Ensure the dining area is clean and organized.
Coordinate with Kitchen: Work with the kitchen staff to ensure timely and accurate food delivery.
Monitor Performance: Keep track of how well the servers are doing and provide feedback.
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 16
b.
Relate job responsibilities to specific performance indicators
Using the job responsibilities you listed in part A, create specific performance indicators. You will need to:
State what the indicator is
Document how the indicator will be measured
Example:
Performance Indicator:
How this will be measured:
Delegate job tasks to other waiting staff. All waiting staff to know their own role and tasks
for each shift. Performance Indicator:
How this will be measured:
Delegate job tasks to other chefs
All chefs to know their own role and tasks for each shift.
Performance Indicator:
How this will be measured:
Delegate job task to the server team member to training for new staff
Employees should receive comprehensive training
before starting work.
Performance Indicator:
How this will be measured:
Customer satisfaction
Reviews check every 2 weeks.
Version: 1.0
RTO Code: 41297
CRICOS Provider Code: 03444C
Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 17
c.
Employee Feedback
List 3 methods you can employ to encourage employees to give you open and honest feedback, and give an example of each:
EXAMPLE:
Method:
Example:
Staff meetings During each staff meeting devote time to asking for ideas or contributions from staff. Acknowledge staff who have given feedback.
Method 1-3:
Example:
1. Communication culture of openness, honesty, respect and trust
2. Email - Follow up with employees
3. Face to face communication - Develop regular, informal conversations with employees, ask them some insightful questions
1. When employees do provide feedback, appreciate their honesty.
2. Show employees that their feedback is being considered, or better adopted. When received feedback ask employees how they would like to follow up.
3. How can I help you do your job better?
What do you hear from customers about our business?
Do you think we can do better as an organization?
How can I provide you with the best support on this project?
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Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
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d.
Professional Development
Training and development should help solve problems or skill shortages in the department and improve both
the staff member and the business.
List 3 techniques which you can use to identify problems or skills shortages in your department, which will help you determine training needs.
EXAMPLE:
TECHNIQUE TO IDENTIFY PROBLEMS OR SKILLS SHORTAGES:
Using customer feedback surveys. Customers making complaints might point you to a problem with products or service, which may highlight gaps in an individual’s knowledge or skills. Looking at how well employees do each month helps find where they struggle and fix those issues to make them better.
Checking sales every month helps find any issues in the sales team and fix them.
Regularly checking production helps catch problems like using the wrong machine or machine breakdown, so they can be fixed.
e.
Bonus and Reward Systems
What is the purpose of a reward system?
A reward system in a company serves several important purposes some few purposes are as:
1. Motivate Employees: It encourages employees to work harder and perform better.
2. Show Appreciation: It makes employees feel valued and recognized for their efforts.
3. Retain Talent: It helps keep good employees from leaving the company.
4. Boost Productivity: It drives employees to be more productive and efficient.
5. Promote Good Behavior: It reinforces behaviors that align with the company’s goals.
List 3 different ways you can reward your employees. For each reward type list any positive or negative aspects associated with the type of reward.
Reward
Positive
Negative
1. Vouchers or Gift cards
1. Gift rewards can motivate employees and improve performance,
encouraging the adoption of better behaviours.
1. Some employees may never be able to meet the motivational requirements
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Choice Business College Pty Ltd trading as Choice Business College
ABN: 28 130 302 000 | ACN: 130 302 000
Page | 19
2.Better payment rates 3. Flexible time off 2. Improve morale and a positive working environment, it can encourage the people and will have more and more customers.
3. Workers will enjoy and also can cover the losses which were cause by
their unpaid leaves.
2.
Bonus incentives may inhibit teamwork because they often reward individual achievements 3. It may need additional funds for extras; it can be a loss to your company maybe on a shorter scale.
f.
Provide employees with feedback
You should provide feedback to your staff on a regular basis. The method you use to provide feedback might depend on the time the employee has worked for you, and the context of the feedback you need to provide.
For each of the following, give an example of a method of feedback (continuous, public, private) you could use to provide feedback to the employee.
EXAMPLE:
Work Scenario
Feedback Method
Training a new employee.
Continuous positive feedback is needed as each task is learned and completed.
New employees can feel anxious if they are not clearly shown what to do, and given praise as they learn the ropes. Work Scenario 1
Feedback Method
Indicating the progress of the team in relation to meeting KPIs.
Public feedback is a way to motivate the team and show them the good work they are doing. That is necessary for the operations team. If the KPI fails to meet the target, you need to meet and talk to the team.
Work Scenario 2
Feedback Method
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The worker needs to be spoken to after a period of poor performance.
Personal face-to-face communication can let you know which position has problems and provide feedback.
Work Scenario 3
Feedback Method
Yearly review process.
Performance evaluations are usually conducted once or twice a
year, feedback should not be limited to a short evaluation period. The annual review should provide a consistent assessment.
When the company is established, you can still use your KPIs for auditing, otherwise you will make changes and get a new plan
g.
Delegating tasks
List 3 tasks you must delegate as a manager/supervisor in your department. For each task, define the benefits to delegating this task:
EXAMPLE:
Task
Benefits of delegation
Supervision of waiting stuff during table service
Saves my time during service.
Increases morale of head waiter.
Creates professional growth for head waiter. Task 1
Benefits of delegation
Supervision with the food quality and services provided at the restaurant Improve efficiency, productivity and management.
Task 2
Benefits of delegation
Supervision staff how to communicate with customers to solve problems
Improve the professional growth of employees.
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Task 3
Benefits of delegation
Supervision checklist of the kitchen cleanliness and food and beverage cleanliness
No complaints related to the cleanliness of cutlery and kitchen
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E Chapter 5 Homework
Question 1 of 6
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Koch Corporation's adjusted trial balance contained the following asset accounts at December 31, 2020: Cash $7,000, Land
$40,000, Patents $12,500, Accounts Receivable $90,000, Prepaid Insurance $5,200, Inventory $30,000, Allowance for Doubtful
Accounts $4,000, and Equity Investments (to be sold in the next quarter) $11,000.
Prepare the current assets section of the balance sheet. (List Current Assets in order of liquidity.)
КОСН СORPORATION
Balance Sheet (Partial)
2$
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Question 6 of 6
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The comparative balance sheets of Constantine Cavamanlis Inc. at the beginning and the end of the year 2020 are as follows.
CONSTANTINE CAVAMANLIS INC.
BALANCE SHEETS
Dec. 31, 2020
Jan. 1, 2020
Inc./Dec.
Assets
Cash
$ 45,000
$ 13,000
$32,000
Inc.
Accounts receivable
91,000
88,000
3,000
Inc.
Equipment
39,000
22,000
17,000
Inc.
Less: Accumulated Depreciation-Equipment
17,000
11,000
6,000
Inc.
Total
$158,000
$112,000
Liabilities and Stockholders' Equity,
Accounts payable
$ 20,000
$ 15,000
5,000
Inc.
Common stock
100,000
80,000
20,000
Inc.
Retained earnings
38,000
17,000
21,000
Inc.
Total
$158,000
$112,000
Net…
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priced and given the following
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0.128
Wrangell
0.73
0.103
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Vertical Analysis
Income statement information for Einsworth Corporation follows:
000
101,400
Sales
Cost of goods sold
Gross profit
Prepare a vertical analysis of the income statement for Einsworth Corporation. If required, round percentage answers to the nearest whole number.
Einsworth Corporation
Vertical Analysis of the Income Statement
Amount Percentage
Sales
0008
Cost of goods sold
101,400
Gross profit
$236,600
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Divide each element by sales to determine the vertical analysis percentage.
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A U.S. MANUFACTURING COMPANY OPERATINGA SUBSIDIARY IN AN LDC (LESS
DEVELOPED COUNTRY) SHOWS THE FOLLOWING RESULTS:
LDC
20 000
U.S.
100 000
SALES (UNITS)
LABOR (HOURS)
RAW MATERIALS (CURRENCY)
CAPITAL REQUIREMENTS (HOURS)
20 000
15 000
$20 000
FC 20 000
60 000
5 000
A) CALCULATE PARTIAL LABOR PRODUCTIVITY AND CAPITAL PRODUCTIVITY
FIGURES FOR THE PARENT AND SU BSIDIARY. DO THE RESULTS SEEM
MISLEADING?
B) NOW COMPUTE THE MULTIFACTOR PRODUCTIVITY FIGURES FOR LABOR
AND CAPITAL TOGETHER. ARE THE RESULTS BETTER?
C) FINALLY, CALCULATE RAW MATERIAL PRODUCTIVITY FIGURES (UNIT/S
WHERE $1 = FC 10). EXPLAIN WHY THESE FIGURES MIGHT BE GREATER IN THE
SUBSIDIARY.
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6 - Practice: Chapter 6
Question 5 of 5
Sunland Frame Camera Shop uses the lower-of-cost-or-net realizable value basis for its inventory. The follo
December 31.
Net Realizable
Item
Units
Cost per Unit
Value per Unit
Cameras:
Minolta
5
$163
$154
Canon
6
154
156
Light Meters:
Vivitar
12
120
112
Kodak
17
120
135
What amount should be reported for inventory on Sunland Frame Camera Shop's balance sheet, assuming the
realizable value rule is applied?
The ending inventory
$
336
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1. EX.07.02.ALGO
Income Statements under Absorption Costing and Variable Costing
Gallatin County Motors Inc. assembles and sells snowmobile engines. The company began operations on July 1 and operated at 100% of capacity during
2. TMM.07,01
the first month. The following data summarize the results for July:
3. EX.07.12.ALGO
Sales (18,500 units)
$2,405,000
Production costs (24,000 units):
4. EX.07.05.ALGO
Direct materials
$1,154,400
5. TMM.07.05
Direct labor
554,400
Variable factory overhead
276,000
Fixed factory overhead
184,800
2,169,600
Selling and administrative expenses:
Variable selling and administrative expenses
$336,300
Fixed selling and administrative expenses
130,200
466,500…
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Assume Skyler Industries has debt of $4,841,000 with a cost of capital of 7.6% and equity of $5,459,.000 with a cost of capital of 10.4%. What is Skyler's weighted average cost of
capital? Round your intermediate calculations and final answer to 3 decimal places,
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During the current year, Sokowski Manufacturing earned income of $332,760 from total sales of $5,640,000 and average capital assets of $12,000,000.
A. Based on this information, calculate asset turnover. If required, round your answer to two decimal places.
times
B. Assume sales margin is 5.9%, what is the total ROI for the company during the current year?. If required, round your answer to one decimal place.
%
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Falkland, Inc., is considering the purchase of a patent that has a cost of $51,000 and an estimated revenue producing life of 4 years. Falkland has a cost of capital of 12%. The
patent is expected to generate the following amounts of annual income and cash flows:
Year 1
Year 2
Year 3
Year 4
Net income
$5,100
$6,500
$6,300
$3,000
Operating cash flows
17,000
18,300
18,450
15,100
(Click here to see present value and future value tables)
A. What is the NPV of the investment? Round your present value factor to three decimal places and final answer to the nearest dollar.
B. What happens if the required rate of return increases?
If the required rate of return increases,
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Bhakti Games is a chain of board game stores. Record entries for the following transactions related to Bhakti's purchase of inventory,
A. On October 5, Bhakti purchases and receives inventory from XYZ Entertainment for $5,500 with credit terms of 2/10 net 30,
B. On October 7, Bhakti returns $1,600 worth of the inventory purchased from XYZ.
C. Bhakti makes payment in full on its purchase from XYZ on October 14.
If an amount box does not require an entry, leave it blank.
А.
В.
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ACCT-1170-017-Fall 2024-Principles of Managerial Accounting
Question Completion Status:
>
QUESTION 1
Take Test: Unit 4 Homework
Relaunch to update:
Freeman Furnishings has summarized its data as shown. Direct labor hours will be used as the activity
base to allocate overhead:
Raw materials purchased
$ 320,000
Raw materials, beginning inventory
Raw materials, ending inventory
15,000
14,000
Work in process, beginning inventory
35,000
0
Work in process, ending inventory
37,000
Estimated overhead
300,000
Depreciation of factory building
50,000
Factory real estate taxes
Factory utility expenses
Indirect materials
7,382
45,000
20,000
Indirect labor
Direct labor cost
Direct labor hours incurred
11,000
100,000
24,000
Estimated direct labor hours
25,000
Compute the cost of goods manufactured.
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On Jan. 1, Year 1, Foxcroft Inc. issued 100 bonds with a face value of $920 for $95,800. The bonds had a stated rate of 5% and paid interest semi-annually,
What is the journal entry to record the issuance of the bonds? If an amount box does not require an entry, leave it blank.
Jan. 1
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Rough Stuff makes 2 products: khaki shorts and khaki pants for men. Each product passes through the cutting machine area, which is the chief constraint during production. Khaki
shorts take 15 minutes on the cutting machine and have a contribution margin per pair of shorts of $16. Khaki pants take 24 minutes on the cutting machine and have a
contribution margin per pair of pants of $32. If it is assumed that Rough Stuff has 4,800 hours available on the cutting machine to service a minimum demand for each product of
3,000 units, how much will profits increase if 106 more hours of machine time can be obtained?
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Florist Grump, Inc., had beginning retained earnings of $137,000. During the year, Florist Grump had net income of $63,000 and declared
and paid dividends of $18,000. What will be shown for ending retained earnings on Florist Grump's year-end balance sheet?
QUESTION 9
For the year ended December 31, Year 2
For the year ended December 31, Year 1
Revenues
$ 7,500
$ 500
Expenses
1,500
Net Income
December 31, Year 2
December 31, Year 1
Assets
$ 16,500
$ 1,000
500
Liabilities
Stock
300
300
Retained Earnings
1.$
200
Assume Year1 is the company's first year of business and there were $100 dividends in Year 1 and $100 dividends in Year 2. After
determining the missing amounts ($
Earnings 1.$
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Math Problem Solver and Caiculator
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50077495-50077495MJNV1W09_C:Intro Fin Acc - Bus 28 / Chapter 9a
*Exercise 9-5 (Part Level Submission)
Windsor Bus Lines uses the units-of-activity method in depreciating its buses. One bus was purchased on January 1, 2017, at a cost of R$245,210. Over its 7-year useful life, the bus is expected to be
driven 170,600 miles. Residual value is expected to be R$14,900.
V Your answer is correct.
Compute the depreciable cost per unit. (Round answer to 2 decimal places, e.g. e.50.)
Depreciation cost per unit
RSL.35
per mile
Attempts: 1 of 2 used
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*(b)
Prepare a depreciation schedule assuming actual mileage was 2017, 42,900; 2018, 49,500; 2019, 42,300; and 2020, 35,900. (Round answers to o decimal places, e.g. 2,125 except Depreciation
Cost /Unit.)
reen Sh
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Accumulated…
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- E Chapter 5 Homework - FINANCIA X O NWP Assessment Player UI Appli X b Answered: The accountant of Lati x M Inbox - dhyani11141999@gmail. X b My Questions | bartleby + i assessment.education.wiley.com/was/ui/v2/assessment-player/index.html?launchld3D1d52287e-dfd8-4d2a-80c9-4cbf51a01297#/question/0 E Chapter 5 Homework Question 1 of 6 > -/ 1 View Policies Current Attempt in Progress Koch Corporation's adjusted trial balance contained the following asset accounts at December 31, 2020: Cash $7,000, Land $40,000, Patents $12,500, Accounts Receivable $90,000, Prepaid Insurance $5,200, Inventory $30,000, Allowance for Doubtful Accounts $4,000, and Equity Investments (to be sold in the next quarter) $11,000. Prepare the current assets section of the balance sheet. (List Current Assets in order of liquidity.) КОСН СORPORATION Balance Sheet (Partial) 2$ 2$ 1:37 PM O Type here to search 9/24/2020 2 ..arrow_forwardE Chapter 5 Homework - FINANCIA X O NWP Assessment Player UI Appli X b Answered: The accountant of Lati x M Inbox - dhyani11141999@gmail. X b My Questions | bartleby + i assessment.education.wiley.com/was/ui/v2/assessment-player/index.html?launchld=1d52287e-dfd8-4d2a-80c9-4cbf51a01297#/question/5 E Chapter 5 Homework Question 6 of 6 > -/ 1 View Policies Current Attempt in Progress The comparative balance sheets of Constantine Cavamanlis Inc. at the beginning and the end of the year 2020 are as follows. CONSTANTINE CAVAMANLIS INC. BALANCE SHEETS Dec. 31, 2020 Jan. 1, 2020 Inc./Dec. Assets Cash $ 45,000 $ 13,000 $32,000 Inc. Accounts receivable 91,000 88,000 3,000 Inc. Equipment 39,000 22,000 17,000 Inc. Less: Accumulated Depreciation-Equipment 17,000 11,000 6,000 Inc. Total $158,000 $112,000 Liabilities and Stockholders' Equity, Accounts payable $ 20,000 $ 15,000 5,000 Inc. Common stock 100,000 80,000 20,000 Inc. Retained earnings 38,000 17,000 21,000 Inc. Total $158,000 $112,000 Net…arrow_forwardI need help on this questionarrow_forward
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