in alternative formats upon request. ACCT 701 CENTENNIAL COLLEGE Accounting for Managerial Decision Making Course Description This course will introduce the student to the principles of management accounting. Topics include costvolume-profit relationships, relevant costing, performance measurement, and the application of management accounting concepts and techniques to support business decision making. Program Outcomes Successful completion of this and other courses in the program
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Hybrid systems are worse than both MTO and MTS systems. e. None of the above e): It is hard to tell which one is better between MTO and MTS. Each has its pros and cons. The answer really depends on the settings, i.e. customer demands and operating cost. 2. According to Little’s Law, a restaurant owner may increase the revenue by a. reducing the throughput rate b. having larger space and higher WIP c. having smaller space and lower WIP d. increasing the time customers staying
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budget that complicates the computation for cost is the fixed-overhead cost used on a variable product being manufactured. Since the cost would have to be allocated to the product produced, it would mean less cost allocated per item if the items produced that month is bigger than the usual. The problem is when the company is faced with smaller demands for its products that the cost would have to be bigger per item since they would have to carry the same cost now (Bruner 1998). On the other hand, the
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ch01 29. The set of activities that transforms raw resources into the goods and services of an organization is called: A. Value chain. B. Supply chain. C. Demand chain. D. Cost-benefit analysis. 30. Which of the following activities would not be considered a value-added activity? A. Production B. Marketing C. Accounting D. Distribution 31. Which of the following statements is false? A. In essence, the value chain and the supply chain are similar; each creates something for which the
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and Matthew Harrison Satisfying people’s needs and making a profit along the way is the purpose of marketing. However, people’s needs differ and therefore satisfying them may require different approaches. Identifying needs and recognising differences between groups of customers is at the heart of marketing. What Is Marketing If It Is Not About Segmentation? CVS Pharmacy is one of the most successful drug store chains in America. What is the reason for this success? They understand their market
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Variance Analysis LEARNING OBJECTIVES After reading this chapter, you should be able to: L.O.1 Use budgets for performance evaluation. L.O.2 Develop and use flexible budgets. L.O.3 Compute and interpret the sales activity variance. L.O.4 Prepare and use a profit variance analysis. L.O.5 Compute and use variable cost variances. L.O.6 Compute and use fixed cost variances. L.O.7 (Appendix) Understand how to record costs in a standard costing system. For the second month in a row, profits at our
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of reports, and (c) purpose of reports. 3.How do the content of reports and the verification of reports differ between managerial and financial accounting? 4.In what ways can the budgeting process create incentives for unethical behavior? 5.Linda Olsen is studying for the next accounting midterm examination. Summarize for Linda what she should know about management functions. BE1-2 The Sarbanes-Oxley Act (SOX) has important implications for the financialcommunity. Explain two implications
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* Question 1 1 out of 1 points | | | Managerial accounting is primarily focused on | | | | | Selected Answer: | B. providing managers with relevant information to help achieve organizational goals. | Answers: | A. providing the Internal Revenue Service with information to determine the amount of taxes owed. | | B. providing creditors information on the status of their loans. | | C. providing managers with relevant information to help achieve organizational goals. | |
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of reports, and (c) purpose of reports. 3.How do the content of reports and the verification of reports differ between managerial and financial accounting? 4.In what ways can the budgeting process create incentives for unethical behavior? 5.Linda Olsen is studying for the next accounting midterm examination. Summarize for Linda what she should know about management functions. BE1-2 The Sarbanes-Oxley Act (SOX) has important implications for the financialcommunity. Explain two implications
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Chapter 6 Cost-Volume-Profit Relationships True/False 1. To estimate what the profit will be at various levels of activity, a manager can simply take the number of units to be sold over the break-even point and multiply that number by the unit contribution margin. Level: Medium LO: 1 Ans: T 2. Incremental analysis is generally the simplest and most direct approach to decision making. Level: Easy LO: 1 Ans: T 3. To facilitate decision-making, fixed expenses should be expressed
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