Connect 1-Semester Access Card for Managerial Accounting: Creating Value in a Dynamic Business Environment (NEW!!)
11th Edition
ISBN: 9781259727788
Author: Hilton & Platt
Publisher: MCG
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Chapter 17, Problem 23E
To determine
Allocate the budgeted costs of the Human resource department and computing department to the Deposit and Loan departments using the reciprocal-services method.
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When the hotel routes all of the financial data for their individual properties to a different site, this is called which of the following?
Question 15 options:
a)
Decentralized budget
b)
Quality financial control
c)
Centralized accounting
d)
Internal financial control
According to institute of Cost and Management Accountants (ICMA) a budget is a plan, quantified in monitory terms showing the income to be the generated, the costs to be incurred and the resources to be utilized for the defined period of time.
Required: Explain the following terms connected with a budget
(i)The budget committee
(ii) The principal budget factor
(iii) The master budget
Need him with the decriotionaIncluding the budget's objective, how the budget assists an organization in managing its financial activities, and what types of data need to be included in that specific budget
Chapter 17 Solutions
Connect 1-Semester Access Card for Managerial Accounting: Creating Value in a Dynamic Business Environment (NEW!!)
Ch. 17 - Prob. 1RQCh. 17 - Prob. 2RQCh. 17 - Should actual or budgeted service department costs...Ch. 17 - Prob. 4RQCh. 17 - Why does dual cost allocation improve the...Ch. 17 - What potential behavioral problem can result when...Ch. 17 - Should actual or budgeted service department costs...Ch. 17 - Explain the difference between two-stage...Ch. 17 - Define the following terms: joint production...Ch. 17 - Prob. 10RQ
Ch. 17 - Describe the relative-sales-value method of joint...Ch. 17 - Define the term net realizable value, and explain...Ch. 17 - Are joint cost allocations useful? If they are,...Ch. 17 - For what purpose should the managerial accountant...Ch. 17 - Prob. 15ECh. 17 - Refer to the data given in the preceding exercise....Ch. 17 - Tuscaloosa National Bank has two service...Ch. 17 - Refer to the data given in the preceding exercise....Ch. 17 - Breakfasttime Cereal Company manufactures two...Ch. 17 - Refer to the data given in the preceding exercise....Ch. 17 - Refer to the data given in Exercise 1720....Ch. 17 - Prob. 23ECh. 17 - Prob. 24PCh. 17 - Prob. 25PCh. 17 - Celestial Artistry Company is developing...Ch. 17 - Snake River Sawmill manufactures two lumber...Ch. 17 - Travelcraft Company manufactures a complete line...Ch. 17 - Biondi Industries is a manufacturer of chemicals...Ch. 17 - Berger Company manufactures products Delta, Kappa,...Ch. 17 - Prob. 31PCh. 17 - Lafayette Company manufactures two products out of...Ch. 17 - Refer to the data given in Problem 1726 for...Ch. 17 - Prob. 34PCh. 17 - Top Quality Fruit Company, based on Oahu, grows,...Ch. 17 - Prob. 36C
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- According to institute of Cost and Management Accountants (ICMA) a budget is a plan, quantified in monitory terms showing the income to be the generated, the costs to be incurred and the resources to be utilized for the defined period of time. Required: Explain the following terms connected with a budget (i) The budget period (ii)The budget Manual (iii)The budget committeearrow_forwardCourse: 1) Discuss the human resources movement view of motivation 2) Discuss the different type of operating budgets and financial budgets.arrow_forwardSelect each of the terms with the best description of its purpose. 1. Helps determine financing needs. Definitions 2. The usual starting point in the master budget process. 3. A report that shows predicted revenues and expenses for a budgeting period. 4. A budgetary cushion used to meet performance targets. 5. A comprehensive plan that consists of several budgets that are linked. 6. Employees affected by a budget help in preparing it. Termsarrow_forward
- A company is planning to purchase various machineries and equipment. Select the one which will facilitate their process to identify the amount of money required? a. Capital expenditure budget b. Production budget c. Purchase budget d. Cost of production budgetarrow_forwardHelp me explain in tagalog or english A budget plan is essential to the realization of the plans of the organization. This summarizes the cost required for the resources or inputs needed to implement plans, programs, and activities. These inputs include human labor and skills, equipment, facilities, supplies, and raw materials. A budget plan consists of two parts. These are direct costs and indirect costs. Direct costs are expenses directly related to the project or activity. Indirect costs are costs that are not directly related to a project or activity that are needed for the smooth flow of operations of the business. The specific costs to be estimated in a budget plan are the following: 1. Operational costs- these are the direct costs of doing the actual work, activity, or project. Examples are the suppliers or raw materials needed in the production of a good. 2. Organizational costs- these are indirect costs that refer to activities that support operational plans, like the…arrow_forwardWeyerhaeuser developed a system that assigns service department expenses to user divisions on the basis of actual services consumed by the division. Here are a number of Weyerhaeuser's activities in its central Financial Services Department: Payroll Accounts payable Accounts receivable Database administration—report preparation For each activity, identify an activity base that could be used to charge user divisions for service.arrow_forward
- 1. Differentiate between a profit center and an investment center. 2. Weyerhaeuser developed a system that assigns service department expenses to user divisions on the basis of actual services consumed by the division. Here are a number of Weyerhaeuser's activities in its central Financial Services Department: Payroll Accounts payable Accounts receivable Database administration—report preparation For each activity, identify an activity base that could be used to charge user divisions for service. What is the major shortcoming of using income from operations as a performance measure for investment centers? In a decentralized company in which the divisions are organized as investment centers, how could a division be considered the least profitable even though it earned the largest amount of income from operations? How does using the return on investment facilitate comparability between divisions of decentralized companies? Why would a firm use a balanced scorecard in…arrow_forwardActivity-based budgeting is a system that recorded and analyses activities that lead to costs of the company. State FIVE (5) examples of suitable business using the activity-based budgetingarrow_forwardGive one example of a plausible activity base to use in flexible budgeting for each of the following organizations: an insurance company, an express delivery service, a restaurant, and a state tax-collection agency.arrow_forward
- Which of the following is true in a bottom-up budgeting approach? a.Supervisors tell departments their budget amount and the departments are free to work within those amounts. b.Departments determine their needs and relate them to the overall goals. c.Every expense needs to be justified. d.Departments budget their needs however they see fit.arrow_forwardThe GIFMIS interfaces with a number of systems and sub-systems. A number of these systems and sub-systems are listed below. Provide in full the meaning of these abbreviations and tell briefly how they interface with the GIFMIS. Program Based Budgeting (PBB) Payroll & HuRMIS (PSC) CS-DMRS (DMD-MOF) E-Monitor (Non-Tax Revenue-MoF) PIMS (PID-MoF) TRIPS & GCMS (GRA) T-24& SWIFT (BoG) E-Procurement (Public Procurement Authority)arrow_forwardWhich of the following statements is the intended goal or outcome of a traditional line-item budget? Estimate the costs of accomplishing measurable tasks or activities Provide mechanisms for expenditure control Focus attention on the value of public services provided Require crosswalks to identify appropriations to agenciesarrow_forward
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