Answered: Some of the things that are the…

Some of the things that are the responsibility of the operational sector are capacity planning. Describe operational management functions in capacity planning.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter2: Building Blocks Of Managerial Accounting

Section: Chapter Questions

Problem 11Q: Explain the components of the total cost equation and describe how each of the components can be...

See similar textbooks

Related questions

Q: Introduction to business

A: Answer - Correct Option is Option D - Planning & Controlling.

Q: Define goal congruence, and explain why it is important to an organization’s success.

A: Managerial accounting: Managerial accounting is a system, or a process of collecting and organizing,…

Q: Why is it important to distinguish between the performance of a manager and the performance of the…

Q: Which is NOT included as concept or aspect of management? a. It is concerned with all kinds of…

A: Correct answer is option (d) It applies only to top level management.

Q: describe the connection between the management process planning, feedback, controlling

Q: ) Give an example of a department corresponding to an investment center, specifying the practical…

A: Give an examle of a department corresponding to an investment centre.

Q: Management Accounting areas which are normally related to the accounting and finance functions may…

A: Management Accounting areas include: Financial strategy Cost management Project management Internal…

Q: Describe the relationship between capacity planning and location and their importance nto the…

A: Capacity planning and location decisions are critical to the organization's effective and smooth…

Q: Function of human resources management

A: Solution- Human resource management (HRM) is nothing but managing human resources. it's the policies…

Q: Describe about the Enterprise Resource Planning. What are its objectives?

A: Enterprise Resource Planning: It refers to a framework within an organization where the management…

Q: What is activity based management? Why is it important? taking example

A: Activity based management:Activity based management is the process of applying activity-based costs…

Q: The area of management concerned with designing and overseeing the process of production is which of…

A: Operations management is the management of operational processes inside a company to make the…

Q: Which one of the following is related to the planning function of management: a. Establishing goals

A: Overhead rates refers to the cost allocated to the production of a product or a service required by…

Q: Organization Structure refers to a. Making necessary arrangements for procuring required manpower…

A: Organization structure means the layer of organization where every duties and responsibility of each…

Q: Give examples of allocation bases used to allocate support-department cost pools to operating…

Q: Describe management's discussion and analysis.

A: Management's discussion and analysis: Management discussion and analysis is the portion of company…

Q: functions of planning, organizing, leadership, and controlling.

Q: (a) what is productivity and what is its three measurement types and why are these three measures…

A: Note: Hi! Thank you for the question As per the honor code, We’ll answer the first question since…

Q: What is the purpose of the Management’s Discussion and Analysis?

A: Management Accounting: It refers to using the financial information of the organization for…

Q: Discuss how the budgeting process in an organisation benefits a functioning standard costing system

A: The process of creating a budget is referred to as budgeting. This process involves budget planning…

Q: Explain the Role of Perfomance Management Techniques in improving Organizational Performance.

A: The Role of Performance Management Techniques in improving Organizational Performance are discussed…

Q: Which function of Management is concerned with an effective procurement of human resources and…

A: Answer: option (a) Staffing is one of the significant functions of management.it is a continuous…

Q: What is the key feature of activity-based responsibility accounting? Briefly explain.

Q: Explain how the choice of the type of responsibility center (cost, revenue, profit, or investment)…

Q: Explain Management’s discussion and analysis.

Q: organization to achieve the project objectives. The role of a project manager is distinct from a…

A: Since we answer one question, we will answer the first question. Please resubmit the question.…

Q: Foster the planning of operations, provide a framework for performance evaluation, and promote…

Q: -Financial -Quality -Human resources

A: Basically, in every business organization, every entity must identify and analyze performance and…

Q: Explain how CVP analysis can be used for managerial planning?

A: Management planning includes various types of analysis to be done on product costs, sales price,…

Q: Justify budgetary control solutions and their impact on organisational decision making to ensure…

A: Budgetary control is the control which is put in place by the company or the organization so that…

Q: Why is it important to consider workforce capability and capacity in designing and sustaining high…

A: Workforce capability refers to the ability of an organization to accomplish its goals such as…

Q: brenchmarking to improve an organizations performance

A: Benchmarking is the method of fixing standards for evaluating the performance of the business entity…

Q: What managerial role does I. Kurien assume in his approach to aftaining his division's goal of…

Q: What are the two dimensions of the activity-based management model?How do they differ?

A: Activity based costing is a type of costing method which allocate indirect cost based on their…

Q: Give one importance of the following in strategic cost management: (i) Business environment, (ii)…

A: Cost accounting is the branch of accounting that inspects the cost structure of a business. This…

Q: Explain the Role of life cycle costing in improving organisational performance

A: Life cycle costing: It refers to the lifetime costs that is incurred on an item or an asset over its…

Q: Give examples of external forces that may affect human resources. Explain them briefly.

A: External forces that affect company human resources are the factors environment which are outside…

Q: valuate the key elements of a human resource management strategy.

A: HRM strategy is a plan that lead to the implementation of a company's human resources department's…

Q: Classify the following activities as per value chain analysis: 1.Communication, pricing and channel…

A: Value chain analysis are classified in two types of activities namely primary and secondary…

Q: Which of the following statements doesn't describe the organizational strategies: Select one: O a.…

A: Organisational strategies may be defined as long term plans formed by the organisation to channelise…

Q: Value Chain Analysis

A: Value chain analysis is a process in which an entity continuously identifies the areas and…

Q: The term Supply Chain Management refers to: Designing a product Designing, producing and delivering…

A: Supply chain management refers to the flow of goods right from procuring the raw materials to…

Q: Explain why support costs are allocated to departments.

A: Support Cost:-These are those costs that are not directly attributable to the manufacturing of the…

Question

Some of the things that are the responsibility of the operational sector are capacity planning.
Describe operational management functions in capacity planning.

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.

Similar questions

An effective managerial accounting system should track information about an organizations activities in which of the following areas? a. Development b. Marketing c. Production d. Design e. All of these.
The managers of an organization are responsible for performing several broad functions. They are ____________________________. planning, controlling, and selling directing, controlling, and evaluating planning, evaluating, and manufacturing planning, controlling, and evaluating
Components of the organization that are demotivating for purposes of performance management are known as ______. A. business goals B. strategic plans C. uncontrollable factors D. incentives
How does a strategic performance measurement system improve upon an ordinary performance measurement system?
Explain the components of the total cost equation and describe how each of the components can be used by management for decision-making.
What is operational feasibility and what problems must management address to achieve it?
The 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.
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
What is an enterprise resource planning (ERP) system? What are the principal benefits of such a system?
Describe the concept of a profit center and, using a specific organization, give an example of how this might be used to achieve the strategic goals of the organization.
Discuss the concept of controllable and uncontrollable costs and how they affect the evaluation of the responsibility centers financial performance.
Examine the placement of the manager of HR systems in the organization chart of Figure 14.2 (pg. 541) and review the typical functional responsibilities of this manager, decisions made, and information needs as shown in Table 14.1 (pp. 541542). Describe possible alternatives for the placement of this function in the formal organization chart, and discuss the relative advantages for each placement. Consider the variables of centralized versus decentralized organizational structures.