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- Question#5 Match the items in the two columns below by entering the appropriate code letter in the space provided.A. Managerial accounting F. Work in process inventoryB. Financial accounting G. Direct materialsC. Planning H. Manufacturing overheadD. Directing I. Period costsE. Controlling J. Value chain1. The cost of products that are partially complete.2. The function of keeping activities in accordance with plans. 3. Primarily concerned with internal users and reports pertain to subunits of the entity.4. Materials that can be physically and directly associated with manufacturing a product. 5. The function of setting goals and objectives.6. Indirect costs of manufacturing a product.7. Primarily concerned with external users and reports pertain to the entity as a whole.8. Costs that are noninventoriable.9. All business processes…16/ Question Workspace Check My Work Morgan Manufacturing operates in an industry in which frequent changes in market conditions results in a hectic and volatile IT environment within the company. To keep abreast, Morgan’s system development team are engaged in a considerable level of new program development and application change activities. To efficiently manage the workload, the director of IT has combined the functions of systems development and program change into a single department. This allows programmers of new applications to also maintain those applications. To achieve cross training, programmers also maintain applications originally programmed by other IT personnel. This has resulted in an “open” library policy that allows programmers to access all programs stored in the SPL and download them to personal computers for maintenance. The immediate effect of this policy has been an increase in the work flow by reducing the startup time needed by programmers to…(Ch 8) Which departments in an organization produce services for external customers? Question 1 options: Support departments. Dual-rate departments. Operating departments. Sales departments. (Ch 8) When allocating support department costs, managers must identify cost pools. The choice of cost pools is: Question 2 options: not influenced by the allocation base. not important, because all support department costs will eventually be allocated anyway. influenced by the design of the accounting information system. determined by whether a company uses IFRS or ASPE.
- Problem 2.30 Systems Concepts, Traditional versus Activity-Based Cost AccountingSystemsThe following items are associated with a traditional cost accounting information system, anactivity-based cost accounting information system, or both (that is, some elements are commonto the two systems):a. Usage of direct materialsb. Direct materials cost assigned to products using direct tracingc. Direct labor cost incurrenced. Direct labor cost assigned to products using direct tracinge. Setup cost incurrencef. Setup cost assigned using number of setups as the activity driverg. Setup cost assigned using direct labor hours as the activity driverh. Cost accounting personneli. Submission of a bid, using product cost plus 25 percentj. Purchasing cost incurrencek. Purchasing cost assigned to products using direct labor hours as the activity driverl. Purchasing cost assigned to products using number of orders as the activity driverm. Materials handling cost incurrencen. Materials handling cost assigned…Question 9.1 With respect to each of the following activities, characteristics, and applications, indicate whether they are primarily identified as being found in a centralized organization, a decentralized organization, or both types of organizations. both centralization decentralization Required: Freedom for managers at lower organizational levels to make decisions. Gathering information may be very expensive. Greater responsiveness to user needs. Have few interdependencies among divisions. Maximum constraints and minimum freedom for managers at lowest levels. Maximization of benefits over costs. Minimization of duplicate functions. Minimum of sub optimal decision making. Multiple responsibility centers with various reporting units. Profit centers.Question Content Area Traditional manufacturing emphasizes all of the following except a. cost accumulation by department b. push manufacturing c. process-oriented layout d. team-oriented employee involvement