Provide correct answer general accounting Match the terms with their best description.A. Incurs costs without directly yielding revenues.B. Provides information used to evaluate the performance of a department.C. Holds manager responsible for revenues, costs, and investments.D. Engages directly in manufacturing or in making sales directly to customers.E. Does not directly manufacture products but contributes to profitability of the entirecompany.F. Incurs costs and also generates revenues.G. Provides information used to evaluate the performance of a department manager.- cost center = ?- investment center = ?- departmental accounting system = ?- operating department = ?-profit center = ?- responsibility accounting system = ?- service department = ?

Step 1: Requirements of the questionIn this question, we are required to match the terms with their…

Answered: Match the terms with their best…

Survey of Accounting (Accounting I)

8th Edition

ISBN:9781305961883

Author:Carl Warren

Publisher:Carl Warren

Chapter14: Decentralized Operations

Section: Chapter Questions

Problem 1SEQ: When the manager has the responsibility and authority to make decisions that affect Costs and...

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When the manager has the responsibility and authority to make decisions that affect Costs and revenues but no responsibility for or authority over assets invested in the department, the department is called: A. A cost center B. A profit center C. An investment center D. A service department
As manager of department B in MarIeys Manufacturing, based on the costs you identified in the previous exercise for further research, how does this impact the financial performance of your department, and what might be some questions you want to ask or solutions you might propose to Marleys management?
Discuss the concept of controllable and uncontrollable costs and how they affect the evaluation of the responsibility centers financial performance.
Which of the following is not a qualitative decision that should be considered in an outsourcing decision? A. employee morale B. product quality C. company reputation D. relevant costs
Components of the organization that are demotivating for purposes of performance management are known as ______. A. business goals B. strategic plans C. uncontrollable factors D. incentives
Which of the following does not describe a management control system? A. establishes a companys strategic goals B. implements a companys strategic goals C. monitors a companys strategic goals D. a system that only measures profitability
When a Dupont analysis reveals that a company has much higher than average asset turnover and much lower than average profit margin, what can be concluded about the companys strategy? a. It is a product differentiator. c. It has no strategy. b. It needs to concentrate on improve- d. It is a low-cost provider ing its profit margins.
The value chain is the sequence of business functions in which A. usefulness is added to the products or services of an organization B. producing and delivering the product or service is of prime importance C. value is deducted from the products or services of an organization D. products and services are evaluated with respect to their value to the supply chain A contribution margin income statement is an income statement that groups costs into their variable and fixed components. True False
In each blank next to the following terms, place the identifying letter of its best description. 1. Cost center 2. Profit center 3. Responsibility accounting system 4. Service department 5. Indirect expenses 6. Controllable costs A. Incurs costs without directly yielding revenues. B. Provides information used to evaluate the performance of a department. C. Does not directly manufacture products but contributes to profitability of the entire company. D. Costs incurred for the joint benefit of more than one department. E. Costs that a manager has the ability to affect. F. Incurs costs and also generates revenues.
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In each blank next to the following terms, place the identifying letter of its best description.
____ 1.Which of the following is a responsibility center that incurs expenses, generates revenues, and is responsible for generating a return on assets? a. Cost center b. Revenue center c. Profit center d. Investment center ____ 2.Which one of the following is the most useful measure for evaluating a manager's performance in controlling revenues and costs in a profit center? a. Contribution margin b. Contribution net income c. Contribution gross profit d. Controllable margin ____ 3.Hanover Corporation desires to earn target net income of $42,000. The selling price per unit is $18, unit variable cost is $5.60, and total fixed costs are $123,912. How many units must the company sell to earn its target net income? a. 13,380 b. 9,993 c. 3,387 d. 9,217 ____ 4.Remark…

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