Answered: Which of the following are examples of…

Which of the following are examples of SOFT controls? [SELECT ALL THAT APPLY] a) Tone at the top (in words and deeds) b) Management decision style c) Culture d) Performance evaluations

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter1: Introduction To Cost Management

Section: Chapter Questions

Problem 7DQ: The controller should be a member of the top management staff. Do you agree or disagree with this...

See similar textbooks

Related questions

Q: Declared a cash dividend. Issued par value common stock for cash at par value Completed a 2-for-1…

A: Retained earnings are the portion of a company's profits that are not distributed as dividends to…

Q: What is Myra’s tax liability before credits including AMT if none of her income is long-term capital…

A: The question asks to calculate the tax liability of Myra Dalrymple before credits, including…

Q: Problem 11-12 (Algo) [LO 11-3, 11-4] Luong Corporation, a calendar year, accrual basis corporation,…

A: Schedule M-1: Schedule M-1 is a tax form that is used to reconcile the book income of a corporation…

Q: atena's Marketing Company has the following adjusted trial balance at the end of the current year.…

A: The retained earnings are increased with the net income and decreased with the dividend. The balance…

Q: The following data are for the pension plan for the employees of Carla Vista Company. Accumulated…

A: The actual return on plan assets refers to the performance of plan assets in a pension plan. It is…

Q: Sales Cost of goods sold Gross profit Operating expenses salaries expense Depreciation expense Rent…

A: Cash flow from operating activities is a financial metric that represents the amount of cash…

Q: Sales volume (units) Revenue Variable costs Direct materials Direct labor Contribution margin Fixed…

A: Allocation of cost is one of the most important activities in cost accounting. It enables…

Q: Standard Costing Example Standard Costs and Variances Problem Xavier Company produces a single…

A: Lets understand the basics. Direct Material Cost Variance: The difference between the standard costs…

Q: of 20,000 units, Almount ble Choice ) 7,027 (rounded). 0 8,667 (rounded). ) 9,286 (rounded). 7,429…

A: Break even point is a point where there is no loss or no profit. Break point in units = Fixed Cost /…

Q: Match each example audit procedure with its correct general audit objective related to accounts…

A: A) Existence of assets: This refers to the verification of whether assets recorded in the financial…

Q: Antonio received 40 ISOs (each option gives him the right to purchase 20 shares of Zorro stock for…

A: It is the amount of money that an individual, business or other entity owes to the government as…

Q: Daniel, Inc., plans to produce 6000 ceramic vases. Total budgeted FMOH is $6000. Information…

A: Direct labor is the cost incurred by the entity on the payments of the wages of the labor directly…

Q: In year 0 lavens Incorporated sold machinery with a

A: Step 1: Compute the realized gain/ (loss) as follows: Realised gain= Amount realised [FMV]-…

Q: 2. At the beginning of his musical career, John Lemon took out a $3,750,000 5-year-loan to build a…

A: A loan payable is a liability that represents the amount of money a borrower owes to a lender. This…

Q: At a volume of 20,000 units, Almount Industries reported sales revenues of $1,180,000, variable…

A: CVP analysis is used to identify the changes in costs and volume affect a company's…

Q: 296,000 units, and the company wants to have 20% of next month's unit sales in in- e cost per unit…

A: Merchandise purchase budget = The merchandise purchase budget is prepared to estimate the production…

Q: AAK frozen Foods plans to invest in a project that is expected to generate net incomes of AED…

A: ACCOUNTING RATE OF RETURN Accounting Rate of Return is one of important Traditional Capital…

Q: On January 1, 2021, Mobley Company sold prin $180,000 cash. Mobley includes a 2-year assura…

A: A journal entry is a record of a financial transaction in accounting. It is used to capture the…

Q: Boston Executive, Inc., produces executive limousines and currently manufactures the mini-bar inset…

A: Differential Analysis :— This analysis shows the comparison between different alternatives.…

Q: Pittsfield Sound Center pays $290,000 for a group purchase of land, building, and equipment. At the…

A: The lump sum paid to acquire various assets is to be allocated on the basis of the ratio of market…

Q: Mack Precision Tool and Die has two production departments, Fabricating and Finishing, and two…

A: There are often production departments and service departments in a manufacturing company. Both…

Q: Ayayai's Medical operates three support departments and two operating units, Surgery and ER. The…

A: Cost analysis is the process of analyzing the expenses associated with manufacturing an item or…

Q: Variances are computed by taking the difference between which of the following? Multiple Choice O…

A: Product costs are the costs that are directly related to the production of goods or services. Period…

Q: Partner Industries sells a single product for $50 that has a variable cost of $30. Fixed costs…

A: The question is about calculating the profit that a company called Partner Industries would make if…

Q: Consider a decentralized company that has 22 divisions: Gold and Silver.

A: Transfer pricing policy refers to the rules and guidelines that a company establishes to determine…

Q: Royal Lawncare Company produces and sells two packaged products-Weedban and Greengrow. Revenue and…

A: Variable costs are those costs which changes with change in activity level or volume. Fixed costs do…

Q: Advanced Automotive pays $310,000 for a group purchase of land, building, and equipment. At the time…

A: Property, plant and equipment are the non-current assets which are reported in the balance sheet of…

Q: d at $2.30 a kilogram. used was 3630 kilogra quantity allowed for th

A: Standard price = $2.60 Per kilogram Standard quantity = 3460 Kilogram Actual price = $2.30 Per…

Q: Prepare the cash flows from operating activities section using the direct method.

A: The direct method in determining cash flows is one of the methods of determining cash flows that…

Q: 12 The following information has been provided by the City of Edward for its most recent December 31…

A: Governmental funds are a type of fund used in governmental accounting to account for the financial…

Q: Calculate the annual depreciation expense for the years 2020 to 2024 and the carrying amount at…

A: Depreciation is nothing but a reduction in the value of an asset over a period time, due to its…

Q: Calculate the weighted average cost of capital (WACC) of company ABC Inc., if: 1. The company's…

A: The Weighted Average Cost of Capital (WACC) is a financial metric used to calculate the cost of…

Q: You have just been hired by FAB Corporation, the manufacturer of a revolutionary new garage door…

A: Flexible budget as the name suggests is flexible in nature and is prepared for the actual units. The…

Q: Lindy Appliance begins operations in 2021 and offers a one-year warranty on all products sold. Total…

A: Warranty refers to a promise or guarantee given by the seller or manufacturer of a product to its…

Q: Andrews Corporation uses a process costing system for manufacturing. The following information is…

A: The cost per equivalent unit of production for conversion is the cost incurred during the…

Q: A furniture manufacturer specializes in wood tables. The tables sell for $220 per unit and incur…

A: Breakeven is the point at which an entity is in situation of no profit and no loss. At this point,…

Q: Gunston Processing produces two products, ALT-1 and ALT-2, from a batch using a single raw material,…

A: The expense borne by manufacturers who are engaged in the production of multiple products or…

Q: c. sells a single product for $13. Variable costs are $3 per unit and fixed costs total $100,000 at…

A: Selling price per unit = $13 Variable cost per unit = $3 Fixed cost = $100,000 Units = 7500 units…

Q: Calculate the unit product cost using absorption costing and variable costing when production is 200…

A: Product cost refers to the cost incurred in factory for manufacturing the goods. Under Absorption…

Q: Suppose the 2022 income statement for McDonald's Corporation shows cost of goods sold $4,878.8…

A: Cash payment to suppliers = Cost of goods sold - Decrease in inventory - Increase in accounts…

Q: Hong Publishing has purchased Lang Publishing. After reviewing titles from both companies, a…

A: The contribution margin is computed by deducting the sales revenue from the variable cost there is…

Q: Activity and selected costs for three production departments (Training, Independent, and Commercial)…

A: With the reciprocal methodology, expenditures incurred by service departments are assigned to…

Q: Blumen Textiles Corporation began April with a budget for 90,000 hours of production in the Weaving…

A: If the actual factory overhead is less than the budget allowance based on standard hours allowed for…

Q: A firm uses backflush costing and values inventory using throughput accounting. All actual amounts…

A: BACKFLUSH ACCOUNTING Backflush accounting is when you wait until the manufacture of a product has…

Q: In 2022, Ivanhoe Corporation had net sales of $600,000 and cost of goods sold of $356,000. Operating…

A: An income statement is a financial statement that reports a company's revenues, expenses, gains, and…

Q: Recording Revenue Under a Contract Modification Traders Inc. enters into a three-year office…

A: When there is a modification in a contract and remaining services to be provided are distinct,…

Q: Direct Materials and Direct Labor Variances Berner Company produces a dark chocolate candy bar.…

A: Journal Entry :— It is an act of recording transaction in books of account when transaction…

Q: Ivanhoe Industries purchased all the following assets and liabilities of Protector Goods for…

A: Journal entry is an art of recording, classifying and summarizing the business transactions in…

Q: A furniture manufacturer specializes in wood tables. The tables operating profit of $17.200 per…

A: Contribution margin is difference between selling price and variable cost. Contribution margin…

Q: The following information is taken from the 2022 general ledger of Bonita Company. Rent Salaries…

A: Prepaid expenses are expenses that are paid in advance, before the related goods or services are…

Question

Which of the following are examples of SOFT controls? [SELECT ALL THAT APPLY]

a) Tone at the top (in words and deeds)

b) Management decision style

c) Culture

d) Performance evaluations

Expert Solution

This question has been solved!

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

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1: HARD controls

VIEW

Step 2: SOFT controls

VIEW

Solution

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 3 steps

SEE SOLUTION Check out a sample Q&A here

Similar questions

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
The managerial decision-making process has which of the following as its third step? A. Review, analyze and evaluate the results of the decision. B. Decide, based upon the analysis, the best course of action. C. Identify alternative courses of action to achieve a goal or solve a problem. D. Perform a comprehensive differential (differential) analysis of potential solutions.
What steps can be taken to ensure that a management team makes decisions for the better of the stakeholders and not their own interests?
Which of the following makes for an effective control environment with regards to commitment to competence? Increase interaction between senior management and operating management. Its culture is one in which there is high commitment to ethical values and competence Assure independence from management. Reduce pressure to meet unrealistic performance targets.
If management signs a management representation letter, is that a good indication that all of management’s statements described in the letter are actually true
Which of the following is true about designing an accounting−based performance measure? A. Management's beliefs are not required during the analyses. B. The issues considered in each step are independent. C. The decisions made in steps are followed in a hierarchical order. D. Behavioral criteria are important when evaluating the steps
Which of the following is NOT an ethical standard of managerial accounting? ntegrity Competency Objectivity Confidentiality Efficiency
Which of the following is NOT an example of a decisional role according to Mintzberg? Select one: O a. disturbance handler b. resource allocator O c. entrepreneur O d. spokesperson
Which strategy will you recommend to management? Why? Explain yourrecommendation with reference to your assessment of the strategies.
In an effort to optimize decentralization, work towards accomplishing its mission, and achieve goal-congruence, an organization will strive to utilize a lot of planning in the design and implementation of their management system. Which of the following represents one of the four pillars of management control systems? O Performance measurement Production O Unit pricing O Irresponsibility centers
For an enterprise wide risk management program to be most effective, it should be led by which of the following? A. A management committee. B. The chief audit executive. C. A centralized coordinator. D. Audit committee members.
Which of the following is NOT one of the AICPA Principles of Professional Conduct? Select one: Organizational sustainability Independence Responsibilities Due Care