For each of the following managers, describe how managerial accounting could be used to satisfy strategic or operational objectives: 1. The vice president of the Information Systems Division of a bank. 2. A hospital administrator. 3. The chief executive officer of a food company. The food company is divided into three divisions: Nonalcoholic Beverages, Snack Foods, and Fast Food Restaurants. 4. The manager of the local campus copy shop.
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- For each of the following managers, describe how managerial accounting could be used to satisfy strategic or operational objectives:1. The vice president of the Information Systems Division of a bank.2. A hospital administrator.3. The chief executive officer of a food company. The food company is divided into three divisions: Nonalcoholic Beverages, Snack Foods, and Fast-Food Restaurants.4. The manager of the local campus copy shop.For each of the following managers, describe how managerial accounting could be used to satisfy strategic and operational objectives: 1, The vice president of the Information Systems Division of a Bank. 2. A Hospital Administrator. 3. The chief executive officer of a food company. The food company is divided into three divisions: Nonalcoholic beverages, snacks and foods, and fast-food restaurants. 4. The manager of the local campus copy shop.In each of the following situations, identify which type of responsibility center is appropriate based on the decision-making authority the manager would possess: 1. The manager of the accounting department in Ford’s corporate office. 2. The sales manager of a Ford dealership. 3. The general manager of a Ford dealership. 4. The manager of Ford’s corporate division. 5. The production manager in a Ford plant. options: Cost Center Investment Center Profit Center Revenue Center
- Briefly discuss the chain of command for someone being hired into an organization as a staff managerial accountant.For the following activitie, explain which of the objectives of managerial accounting activity is involved. In some cases, several objectives may be involved. Comparing a Sheraton Hotel’s room rate structure, occupancy rate, and restaurant patronage with industry averages.1. Responsibility Centers Indicate how each of the business situations below is most likely to be organized: cost center (CC), revenue center (RC), profit center (PC), or investment center (IC) A. The assembly department of Toyota Motors Corporation. B. The Ayala Mall car park ticket outlets. C. The Magnolia product division of San Miguel Corporation. D. The accounting department of SM Malls. E. The Project 8 branch of Starbucks Coffee. F. The College of Accountancy of the España University. G. The parts department of Suzuki Motors Corporation. H. The convenience store (Mini-Stop) that is owned by a chain organization; the head office supplies all the goods to be sold and determines the selling prices.
- The controller's staff often consists of several management accountants. All of the following would most likely be on the controller's staff except Oa. cost accountants Ob. investments and shareholder relations managers Oc. budget analysts Od. general accountantsFor each office or business segment, indicate which type of Responsibility Center it is: a. A retail location, such as the Apple Store b. A manufacturing division that manages its own facilities and production equipment c. Call center for a warranty claims processing d. Consulting department of an accounting firm e. Quality control department for a golf ball manufacturer PreviousNextClassifying responsibility centers Each of the following managers works for a national chain of hotels and has been given certain decision-making authority. Classify each of the managers according to the type of responsibility center he or she probably manages. a. Manager of the Central Reservation Office b. Managers of various corporate—owned hotel locations c. Managers of the Northeast and Southeast Corporate Divisions d. Manager of the Housekeeping Department at one hotel e. Manager of the complimentary breakfast buffet at one hotel
- Give an example of managerial accounting information that could help a manager make the following decision. The manager of a Target store is deciding how many security personnel to employ for the purpose of reducing shoplifting.Justin Bleeber has prepared the following list of statements about managerial accounting, financial accounting, and the functions of management.Identify each statement as true or false. 1. Financial accounting focuses on providing information to internal users. TrueFalse 2. Staff positions are directly involved in the company’s primary revenue-generating activities. TrueFalse 3. Preparation of budgets is part of financial accounting. TrueFalse 4. Managerial accounting applies only to merchandising and manufacturing companies. TrueFalse 5. Both managerial accounting and financial accounting deal with many of the same economic events. TrueFalse 6. Managerial accounting reports are prepared only quarterly and annually. TrueFalse 7. Financial accounting reports are general-purpose reports. TrueFalse 8. Managerial accounting reports pertain to subunits of the business. TrueFalse 9. Managerial…Assume you have been hired by Cabelas Sporting Goods. As part of your new role in the accounting department, you have been tasked to set up a responsibility accounting structure for the company. As your first task, your supervisor has asked you to give an example of a cost center, profit center, and an investment center within the Cabelas organization. Your supervisor is a little unsure of the difference between a profit center and investment center and would like you to explain the difference.