Categorize each of the following activities as to which management responsibility it fulfills: planning, directing, or controlling. Some activities may fulfill more than oneresponsibility. (Select an "X" in the input field if the management responsibility is fulfilled. If the management responsibility is not fulfilled, leave the input field empty.)Question content area bottom Part 1 Activity Management Responsibility Planning Directing Controlling a. Management decides to increase sales growth by 20% next year.b. Management analyzes the impact of a recent advertising campaign by comparing budgeted sales to actual sales. c. Management reviews hourly sales reports todetermine the level of staffing needed to staff the customer service desk. d. Management uses information on product costs to determine sales prices. e. To lowerproduction costs, management moves production to China.

The objective of the question is to categorize each of the given activities into one of the three…

Answered: Categorize each of the following…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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9. Which is not an aspect of a report to make it effective? a. Detailed b. Accuracy c. Relevance d. Exception oriented 10. Which of the following statements is true? a. world class companies motivate and treat employees like appreciating assets b. manufacturing firms that achieve world class status do so by following a philosophy of lean manufacturing c. world class companies must maintain strategic agility and be able to turn on a dime d. all of the above 11. Which of the following is not recorded using the fixed assets system? a. Sale of a company van b. Improvement of a leased office space c. Purchase of raw materials d. None of the above
Breaking down resistance to a new strategic vision typically requires that management, on an as needed basis, Select one: O A. reiterate the company's need for the new direction, while addressing employee concerns head- on, calming fears, lifting spirits, and providing them with updates and progress reports as events unfold. O B. raise wages and salaries to win the support of company personnel for the company's new direction. O C. institute a balance scorecard to measuring company performance, with the balance including a mixture of both old and new performance measures. O D. explain all updates and merits of the company's business model to align strategy with employee concerns. O E. inform company personnel about forthcoming changes in the company's strategy.
Waterfield Company is looking for a way to help its executive managers assess how its three divisions are meeting the company’s goals and objectives for the performance of its purchasing department. Which of the following metrics might be used for this purpose? a. customer satisfaction rating b. the material price variance c. the amount of time employees spend in training d. operating income
The balanced scorecard approach a. evaluates performance using about 10 different perspectives in order to effectively incorporate all areas of the organization. b. uses rather vague, open statements when setting objectives in order to allow managers and employees flexibility. c. normally sets the financial objectives first, and then sets the objectives in the other perspectives to accomplish the financial objectives. d. uses only financial measures to evaluate performance.
Coral Creations has strategic plans that call for rapid growth, a limited number of units for each design to enhance exclusivity, designs for the perfect fit, on-time delivery to customers, retention of highly trained employees with innovative skills, and excellent inventory control. Suggest one performance measure for each dimension of the balanced scorecard for Coral Creations. Take one of your measures and discuss the linkage it has to the strategies listed from Coral’s plan. Solution A. Financial: Internal operations: Customer service: Learning and growth: B. Rapid growth: Enhanced exclusivity: Designs: On-time delivery: Retention of employees: Inventory control:
Pls help... Your corporation is presenting its financial results for the year to the board of directors. You have created a model of premium service that have increased profit margins. However, the board members are concerned that this has been achieved by adding more staff instead of better use of technology compared to your competitors. What ratio should the board members be looking for to see if their apprehensions are justified? Group of answer choices SG&A/Sales ROIC/Sales Return on sales PPE/Sales
Describing the balanced scorecard and identifying key performance indicators for each perspective Consider the following key performance indicators, and classify each according to the balanced scorecard perspective it addresses. Choose from financial perspective, customer perspective, internal business perspective, or learning and growth perspective. a. Number of employee suggestions implemented b. Revenue growth c. Number of on-time deliveries d. Percentage of sales force with access to real-time inventory levels e. Customer satisfaction ratings f. Number of defects found during manufacturing g. Number of warranty claims h. Return on investment i. Variable cost per unit j. Percentage of market share k. Number of hours of employee training l. Number of new products developed m. Yield rate (number of units produced per hour) n. Average repair time o. Employee satisfaction p. Number of repeat customers
Jalancu Juviai u The following are a number of measures associated with the Balanced Scorecard. Required: 1. Classify each performance measure as belonging to one of the following perspectives: financial, customer, internal business process, or learning and growth. a. Number of new customers b. Percentage of customer complaints resolved with one contact C. Unit product cost d. Cost per distribution channel e. Suggestions per employee f. Warranty repair costs Consumer satisfaction (from surveys) Cycle time for solving a customer problem Strategic job coverage ratio j. On-time delivery percentage k. Percentage of revenues from new products 2. Select an additional measure that would be appropriate for each of the four perspectives. Contribution margin by product ▾ Number of complaints Number of accidents per month Hours of continuing education provided per month g. h. i. Financial Customer Customer Internal business process Financial Financial Learning and growth Learning and growth…
Assume that a company has decided to include "employee turnover" and "residual income" as performance measures within its balance scorecard. Which of the following choices reflects management's most likely expectations regarding how these measures should change over time? A) B) C) D) Employee turnover Increase Increase Decrease Decrease Multiple Choice. O O O O Choice A Choice B Choice C Choice D Residual Income Increase Decrease Increase Decrease
For each of the following, select its best description. A. Incurs costs without directly yielding revenues. B. Costs that a manager has the ability to affect. C. Incurs costs and also generates revenues. D. Holds manager responsible for revenues, costs and major investing decisions. E. Lists actual costs a manager is responsible for and their budgeted amounts. F. Unit managers make decisions and top management then evaluates the performance of unit managers. 1. Decentralized organization 2. Controllable costs 3. Responsibility accounting performance report 4. Profit center 5. Investment center 6. Cost center
Select all of the benefits of budgeting. Facilitates the coordination of activities within the business O Requires management to plan ahead and formalize goals O Motivates personal throughout the organization to meet planned objectives ns O Results in greater management awareness of the business's overall operations O Provides definite objectives for evaluating performance
Balanced scorecard. Following is a random-order listing of perspectives, strategic objectives, and performance measures for the balanced scorecard. Perspectives Internal business process Performance Measures Percentage of defective-product units Customer Return on assets Learning and growth Number of patents Employee turnover rate Net income Financial Strategic Objectives Acquire new customers Customer profitability Percentage of processes with real-time feedback Increase shareholder value Return on sales Retain customers Improve manufacturing quality Develop profitable customers Average job-related training-hours per employee Return on equity Percentage of on-time deliveries by suppliers Product cost per unit Increase proprietary products Increase information-system capabilities Enhance employee skills Profit per salesperson Percentage of error-free invoices On-time delivery by suppliers Increase profit generated by each salesperson Introduce new products Customer cost per unit…

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