Do world-class businesses use which of these systems to integrate all of a company’s worldwide functions, departments, and data into a single system? Cost standards Enterprise resource planning Just-in-time management Items a, b, and c are correct.
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Do world-class businesses use which of these systems to integrate all of a company’s worldwide functions, departments, and data into a single system?
- Cost standards
- Enterprise resource planning
- Just-in-time management
- Items a, b, and c are correct.
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- Classify the following cost drivers as structural, executional, or operational. a. Number of plants b. Number of moves c. Degree of employee involvement d. Capacity utilization e. Number of product lines f. Number of distribution channels g. Engineering hours h. Direct labor hours i. Scope j. Product configuration k. Quality management approach l. Number of receiving orders m. Number of defective units n. Employee experience o. Types of process technologies p. Number of purchase orders q. Type and efficiency of layout r. Scale s. Number of functional departments t. Number of planning meetingsDescribe the concept of a cost center and, using a specific organization, give an example of how this might be used to achieve the strategic goals of the organization.Which of the following objectives would be associated with the process perspective? a. Increasing information system capabilities b. Increasing service quality c. Decreasing unit product cost d. Increasing customer satisfaction
- For the following situations, identify whether the description is probably a centralized or decentralized organization. A. Seaside Furniture, a small builder of side tables managed solely by its sole proprietor B. Harbor Marketing, which wants Advertising Team Leaders to be able to respond quickly to needs of potential clients so Team Leaders have the authority to make decisions about advertising and pricing C. Coutures Creations, with a single owner who manages the production, accounting, engineering, sales, and other administrative functions D. British Navy E. McDonalds franchise #3101 in Canton. Ohio F. United States ArmyThe actions listed next are associated with either an activity-based operational control system or a traditional operational control system: a. Budgeted costs for the maintenance department are compared with the actual costs of the maintenance department. b. The maintenance department manager receives a bonus for beating budget. c. The costs of resources are traced to activities and then to products. d. The purchasing department is set up as a responsibility center. e. Activities are identified and listed. f. Activities are categorized as adding or not adding value to the organization. g. A standard for a products material usage cost is set and compared against the products actual materials usage cost. h. The cost of performing an activity is tracked over time. i. The distance between moves is identified as the cause of materials handling cost. j. A purchasing agent is rewarded for buying parts below the standard price set by the company. k. The cost of the materials handling activity is reduced dramatically by redesigning the plant layout. l. An investigation is undertaken to find out why the actual labor cost for the production of 1,000 units is greater than the labor standard allowed. m. The percentage of defective units is calculated and tracked over time. n. Engineering has been given the charge to find a way to reduce setup time by 75 percent. o. The manager of the receiving department lays off two receiving clerks so that the fourth-quarter budget can be met. Required: Classify the preceding actions as belonging to either an activity-based operational control system or a traditional control system. Explain why you classified each action as you did.World-class businesses use which of these systems to integrate all of a company’s worldwide functions, departments, and data into a single system? a. Cost standards b. Enterprise resource planning c. Just-in-time management d. Items a, b, and c are correct.
- Understanding today’s business environmentMatch the following terms to the appropriate statement. Some terms may be used more than once, and some terms may not be used at all. a. A management system that focuses on maintaining lean inventories while producing products as needed by the customer. b. A philosophy designed to integrate all organizational areas in order to provide customers with superior products and services while meeting organizational objectives. c. Integrates all of a company’s functions, departments, and data into a single system. d. Adopted by firms to conduct business on the Internet.PLEASE COMPLETE THE TABLE WITH SUITABLE COST DRIVERS, FOR A PROJECT-BASED CUNSTRUCTION COMPANY. Cost Drivers Activity Groups Department Name Organizational Excellence Management Organizational Excellence Department Strategy Organizational Excellence Department Performance planning and management Organizational Excellence Department Budget and cost control Organizational Excellence Department Risk and process Organizational Excellence Department Human resource planning and supply Human Resource Management Department Compensation for employee services and affairs Human Resource Management Department Human resource training and development Human Resource Management Department Headquarters Support Affairs Human Resource Management Department Acquisition Human Resource Management Department Recruiting Human Resource Management Department HSE HSE and Quality…determine most important cost drivers for each department of a project-based cunstruction company: 1. Human Resource Management Department (for cost pools such as Recruiting, Acquisition, Formal Training, Informal Training, Development, etc) 2. Legal Department (for Employer contracts, legal, claims, etc) 3. Financing Department 4. Business Developement 5. Accounting and finance Department 6. Organizational Excellence Management Department (for risk, strategy, budget, performance planning and controlling) 7. HSE and Quality Department 8. CEO office 9. Deputy for Planning and Executive Coordination 10. Stock affairs, corporate affairs and corporate oversight
- The controller of Tri Con Global Systems Inc. has developed a new costing system that traces the cost of activities to products. The new system is able to measure post-manufacturing activities, such as selling, promotional, and distribution activities, and allocate these activities to products in a manner that provides a more complete view of the company's product costs. This system produces better strategic information about the relative profitability of product lines. In the course of implementing the new costing system, the controller realized that the company's current period GAAP net income would increase significantly if the new product cost information were used for inventory valuation on the financial statements. The controller has been under intense pressure to improve the company's net income, and this would be an easy and effective way for her to help meet the company's short-term net income goals. As a result, she has decided to use the new costing system to determine GAAP…The controller of Tri Con Global Systems Inc. has developed a new costing system that traces the cost of activities to products. The new system is able to measure post-manufacturing activities, such as selling, promotional, and distribution activities, and allocate these activities to products in a manner that provides a more complete view of the company's product costs. This system produces better strategic information about the relative profitability of product lines. In the course of implementing the new costing system, the controller realized that the company's current period GAAP net income would increase significantly if the new product cost information were used for inventory valuation on the financial statements. The controller has been under intense pressure to improve the company's net income, and this would be an easy and effective way for her to help meet the company's short-term net income goals. As a result, she has decided to use the new costing system to determine GAAP…The controller of Tri Con Global System Inc. has developed a new costing system that traces the cost of activities to products. The new system is able to measure post-manufacturing activities such as selling, promotional, and distribution activities, and allocates these activities to products in a manner that provides a more complete view of the company’s product costs. This system produces better strategic information about the relative profitability of products lines. In the course of implementing the new costing system, the controller realized that the company’s current period GAAP net income would increase significantly if the new product cost information were used for inventory valuation on the financial statements. The controller has been under intense pressure to improve the company’s net income, and this would be an easy and effective way for her to help meet the company’s short-term net income goals. As a result, she has decided to use the new costing system to…