ACCOUNTING This course introduces you to a select set of topics on managerial decision-making and control, including basic cost concepts, inventory process systems, budgeting, performance measures, segments and transfer pricing. We will examine the current practices of these elements of managerial control in decentralized business organizations and conceptual issues related to designing effective managerial decision-making and control systems. The general aim of this course is to help you develop
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system Holly has been using allocates 90% of overhead costs to the standard cello because 90% of direct labor hours were spent on the standard model. How much overhead was allocated to each of the two models last year? Based on the activity based costing calculations overall overhead allocations are 67% to the Standard Cello, 33% to the Custom Cello. Discuss why this might not be an accurate way to assign overhead costs to products. Holly has 7 categories of overhead for 2 products the lesser
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Cost management information is needed to make sound strategic decisions regarding choice of products, manufacturing methods, marketing techniques and channels, assessing customer profitability and other long-term issues. 2. Planning and Decision Making. Cost management information is needed to support recurring decisions regarding replacing equipment, managing cash flow, budgeting raw materials purchases, scheduling production, and pricing. 3. Management and Operational Control. Cost management information
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10 years of significant, progressive marketing experience and expertise that is highly applicable to marketing-management, including ability to deliver superior, personalized client service, cultivate strong business relationships, make real-time decisions, and resolve issues in a way that propels innovation and growth. Excellent team player who listens, thrives on collaborating with diversely talented team members, and integrates their divergent thoughts, opinions, and perspectives into meaningful
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effective, a good budgeting system must provide for both planning and control. Good planning without effective control is a waste of time and effort (Garrison, Noreen, & Brewer, 2012, p. 336). Budgetary control is an important tool in business decision-making processes, but for Ferguson & Son, they have been using the control system inefficiently. Budgetary control should help corporate executives monitor expenses and adjust operations accordingly. For example, senior management may reduce
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………………………….…… 4 2. Activity-based Costing System ……………..…….… 5 a. Appendix ……………………………….……...... 5 b. ABC and Actual Production Volume ………….…... 5 c. ABC and Capacity Production Volume ……….….... 5 3. Expand and Analysis …………………………..…… 5 III. ALTERNATIVES AND EVALUATION …….……. 6 IV. RECOMMENDATION …………………………..…… 6 I. PROBLEM IDENTIFICATION The main problem in this case is that Wilkerson is having difficulty appropriately pricing its products to retain gross margin
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for Managerial Decision Making ACCT 701 56 N/A N/A Yes Basil Chan, John Harris Summer 2013 Geoffrey Prince Summer 2014 Winter 2015 Chairperson/Dean Students are expected to review and understand all areas of the course outline. Retain this course outline for future transfer credit applications. A fee may be charged for additional copies. This course outline is available in alternative formats upon request. ACCT 701 CENTENNIAL COLLEGE Accounting for Managerial Decision Making Course
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disclose exactly how such total cost is constituted( i.e. the value of material used, the amount of labour and other expenses incurred ) so as to control and reduce its cost. According to Wheldon, “Cost accounting is the application of accounting and costing principles , methods and techniques in the ascertainment of costs and the analysis of saving/or excess cost incurred as compared with previous experience or with standards. Thus , cost accounting relates to the classification, ascertainment of cost
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can see, the pricing of the hotel and accommodation industry is not constant and has no fixed price. One thing the hotel industry management realizes is there are so many different people staying in hotels, each with their own needs and wants. For example, business travelers, bargained hunters, students and other. Also, there is the threat of increasing competition and overcapacity in low peak periods which makes hotel room prices very flexible and volatile. Normally, a hotel’s pricing strategy would
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to activity based funding? Activity based funding (ABF) is a common practice being used around the world and in some Australian hospitals. This essay will examine the practice and determine if value is being added by using ABF and how that effects costing within hospitals. ABF is the process of receiving funding from the government based on the type and volume of procedures provided to patients. Similar activities are grouped together and classified, with each hospital receiving the same amount of
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