Don't use AI. SituationA possible new client has approached the partner in charge (PIC) of your firm todetermine if they want to hire your firm to provide accounting services. The client iscurrently a retailer but may want to establish a manufacturing operation. Their CEOwould like to gain an understanding of cost flows and how to determine productcosts in the manufacturing process.Your PIC has assigned your group to make a presentation to the client to answer herquestions. The PIC advises you the CEO has a very short attention span and wantsto see your research for her review and future reference.Part 1Your PIC would like your team to me discuss and explain the following to the CEO:• How to determine the predetermined overhead rate.• Provide insight on what factors to consider in choosing a method to allocateoverhead.

Additional notes for the presentation / discussion:Here's an example:If estimated overhead is…

Answered: Situation A possible new client has…

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter9: Responsibility Accounting And Decentralization

Section: Chapter Questions

Problem 1EB: Assume you have been hired by Cabelas Sporting Goods. As part of your new role in the accounting...

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Assume you have been hired by Hilton Hotels and Resorts. 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 Hilton 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.
Managerial accounting is concerned with providing information to managers so they may make business decisions that satisfy customers while continuously monitoring costs and improving efficiencies. Some reports provide timely updates on key indicators while others investigate problems such as declined profitability. Please list a report or activity you learned about in managerial accounting which would be useful if implemented in either a) a current or past place of employment or b) your personal life. Describe how the report would help in your job or personal life.
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Jeremy is a team leader on a project for which the purpose is to determine to transition to a new human resources software platform for employees. Jeremy's team is composed of a person from accounting, finance, marketing, and operations. Jeremy represents human resources. His accounting and finance team members are focusing only on the cost and the timeline for implementation, while his operations manager is focusing on employees and their needs. How should Jeremy reconcile the differences between his team members? HTML Editor B IUA - A I E E E E I CE T T 1
As a managerial accountant, you would have the opportunity to work for company that classifies itself as either service, merchandising, or manufacturing.Based on what you have learned from this unit, and based on your personal preferences, identify which type of company for which you would prefer to work as a managerial accountant. Be sure to provide specific reasoning to support your answer.
After completing your first degree in accounting you have been employed by XYZ Company as an account officer. The Management of the company has tasked you to implement a computerized accounting system Explain the difference between a stand-alone package and an integrated package? Explain two advantaged and two disadvantages of an integrated package e) Before a new accounting package can be deployed, it needs to be configured. What does it mean to configure an accounting package? Explain the processes involved in the configuration of an accounting package.
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CASE STUDY 4-3 Choosing a Performance Measurement Approach at Paychex, Inc. The following job description is for an account executive at companies, then that account executive is expected to attend Paychex, Inc. (www.paychex.com). Paychex, Inc., is a leading retail trade shows and professional meetings to identify national provider of payroll, human resources, and benefits potential clients and to stay current with the issues facing the outsourcing solutions for small- to medium-sized businesses. retail industry. Paychex is headquartered in Rochester, New York, but the company has more than 100 offices and serves hundreds of ACCOUNT EXECUTIVE JOB RESPONSIBILITIES thousands of clients nationwide. Because account executives often make sales calls individually, their managers do not always directly observe their performance. Furthermore, man- agers are also responsible for sales in their markets and for staying up-to-date on payroll laws. However, account execu- tives are responsible for…
Assume you are the manager of a local Starbucks. What factors do you feel would be relevant to hiring workers (including pay), assuming Starbucks is a centralized organization?
Assume you are the manager of a local Starbucks. What factors do you feel would be relevant to hiring workers (including pay), assuming Starbucks is a decentralized organization?
In a team of two or three students, interview the manager/owner of a local business. In this interview, ask the manager/owner the following questions: A. Does the business collect and use cost information to make decisions? B. Does it have a specialist in cost estimation who works with this cost data? If not, who is responsible for the collection of cost information? Be as specific as possible. C. What type of cost information does the business collect and how is each type of information used? D. How important does the owner/manager believe cost information is to the success of the business? Then, write a report to the instructor summarizing the results of the interview. Content of the memo must include date of the interview, the name and title of the person interviewed, name and location of the business, type of business (service, merchandising, manufacturing) and brief description of the goods/services provided by the business, and responses to questions A-D.
Aaron McKinney is a cost accountant for Majik Systems Inc. Martin Dodd, Vice President of Marketing, has asked Aaron to meet with representatives of Majik Systems major competitor to discuss product cost data. Martin indicates that the sharing of these data will enable Majik Systems to determine a fair and equitable price for its products. Would it be ethical for Aaron to attend the meeting and share the relevant cost data? Explain your answer.

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