Answered: Which one of the following is not an…

Which one of the following is not an example of a support department? Select one: a. Human resources b. Fabricating c. Information technology d. General factory

Cornerstones of Cost Management (Cornerstones Series)

4th Edition

ISBN:9781305970663

Author:Don R. Hansen, Maryanne M. Mowen

Publisher:Don R. Hansen, Maryanne M. Mowen

Chapter2: Basic Cost Management Concepts

Section: Chapter Questions

Problem 4DQ: Define and explain the two major subsystems of the cost management information system.

See similar textbooks

Related questions

Q: :Changing the design of the product is an example of A product level activity a O A batch level…

A: Product-level activities are the activities that are related to a specific product or activity.…

Q: Explain the difference between service company and manufacturing company.

A: Explain the difference between a service company and a manufacturing company. Service Company:…

Q: Which of the following best describes the activities of the production function?a. maintenance,…

Q: Which of the following is the proper classification of activities according to activity level for a…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Which of the following descriptions is notcorrect?a. The routing sheet shows the manufacturingpath…

A: Production cost comprises of total costs that are incurred in the process of bringing a product to…

Q: 1. What types of costs are allocated? What is a support department? What is a producing department?…

A: Allocation refers to distribution of total overhead cost to the departments that have actually used…

Q: Distinguish between manufacturing-, merchandising-, and service-sector companies?

A: Manufacturing companies are the ones which procure raw materials and carry out manufacturing…

Q: Describe a cost center, profit center, and investment center that one manufacturing company might…

A: Cost: The amount paid to purchase the asset, install it, and put it into operations, is referred to…

Q: Define and explain the cost management information system's two major subsystems.

A: Cost management information system refers to the system which is related with the manufacturing the…

Q: Discuss the importance to the cost accounting departmen

A: Cost Accounting System: Cost accounting system can be defined as a framework designed by the…

Q: Which of the following is the best example of a product-level activity? Select one: O a. Painting a…

A: Product-level-activity: These activities are done related to specific products irrespective of how…

Q: Which of the following is NOT likely an example of support departments in a manufacturing company? O…

A: Support Department - It provides services or assist other internal departments in the company. It is…

Q: Identify the following features as applying more to job order operations (J), process operations…

A: Process costing: It is a method of cost accounting used by an enterprise with processes categorized…

Q: Give four examples of firms you believe would be significant users of cost management informationand…

A: Cost management information: Cost management information contains financial information regarding…

Q: Which type of service organisation has a high degree of customisation and staff discretion in…

A: Service organisations are those organisations which are engaged in providing various types of…

Q: utilizes a computer system to estimate production needs so that required resources are available…

A: Answer - 1. Correct Option is A - Flexible. A flexible manufacturing system is a highly automated…

Q: Which of the following is false when using ABC in a service industry? analyze operations accumulated…

A: ABC (activity-based costing) seems to be an approach for allocating overhead expenses more…

Q: What term describes all business processes associated with providing a product or service? O The…

A: A product is a tangible item that can be sold to the customers. Service is an intangible item which…

Q: Describe why sales and operations planning teams are cross fuxntions ?

A: Sales is basically concerned about exchange of a product or service for either any product, service…

Q: Discuss standard costs and indicate how they can be used by management in planning and control.

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Match the items in the two columns below by entering the appropriate code letter in the space…

A: Management accounting: Management accounting refers to identifying, measuring, analyzing the…

Q: Systems Concepts, Traditional versus Activity-Based Cost Accounting Systems The following items are…

A: Activity-based costing represents the costing method that assigned the cost to each activity based…

Q: Which of the following would be a service department for a furniture manufacturer? A. Assembly…

A: A manufacturing firm may have different segments or departments performing different functions. Some…

Q: Describe the following activities as unit-level, batch-level, product-level, or facility- level. a.…

A: Manufacturing overhead costs: The costs, which do not relate directly with the manufacturing of…

Q: 3. Machinery, computers, and human skills and abilities are part of an organization's a. Environment…

A: Every business runs for the purpose of generating profit. Investment of resources is important for…

Q: a) Distinguish between Production management and Operations Management. h) Distinguieh between…

A: Introduction:- The main objective of production and operations management is to adequately operate…

Q: A department is a subdivision of a business that specializes in performing a major function such as…

A: Business can be dividend into three types. Service business Manufacturing business Retail business…

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: Identify the following features as applying more to job order operations (J), process operations…

A: Job order operations: These processes are used to allocate prime costs to each unit…

Q: Who will be the coordinator for standard costing committee ? Chief Engineer General Manager Cost…

A: The technique using which the variance between the estimated costs and actual costs can be computed…

Q: What is the proper order of tasks in an ABC system? a.identify the cost pools, identify the cost…

A: Under ABC costing, the overhead is applied to production one the basis of different activities being…

Q: Which of the following is the main objectives of cost accounting? a. Maintenance of machinery b.…

A: Cost accounting means where every cost of doing business is recorded in necessary account and cost…

Q: Which of the following components in the supply chain of a manufacturing company are most concerned…

A: Supply chain management (SCM) is the technique used for managing the goods and service. It involves…

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: 1) The two basic types of cost accounting systems a. job order and job accumulation systems. b. job…

A: Cost Accounting: It is the process of collecting, recording, analyzing the cost, summarizing cost,…

Q: Production or operation is the activity of creating products and services. Operational manager is…

A: Production or operation is the activity of creating products and services. An operational manager is…

Q: is the delivery of products or services to customers. O a. Distribution O b. Customer service O c.…

A: Lets understand all the terms mention in the question to determine right answer. There are various…

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: the course tittle of this assignment from is:- Advanced cost and Management Control System 1.…

A: SOLUTION 2- OVERHEAD ALLOCATION Overhead allocation…

Q: Why is the concept of Equivalent Units central in the measurement of the performance of a divisional…

A: Process costing represents the costing method that represents the different stages of the production…

Q: Define and explain the two major subsystems of the cost management information system.

A: The Cost Accounting Information System (CAIS) is a monetary accounting system that calculates the…

Q: An engineering company is looking for a software solution to manage their inventory and…

A: Inventory refers to the items, materials or merchandise and any type of goods which are sold by the…

Question

Which one of the following is not an example of a
support department?
Select one:
a. Human resources
b. Fabricating
c. Information technology
d. General factory

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 3

VIEW

Step by step

Solved in 3 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

Define and explain the two major subsystems of the cost management information system.
What are the objectives of a cost management information system?
Describe 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 is NOT correct about cost center and cost unit?Select one:a. A cost center is defined as "a location, person, or item of equipment for which costs may be ascertained and used for the purpose of control.b. a cost center refers to a section of the business to which costs can be charged. It may be a location, an item of equipment, or a person.c. A cost unit is defined as a unit o/product, service or time in relation to which cost may be ascertained or expressed.d. In any organization, there is either cost center or cost unit; they are alternatives for each other.
Which of the following best describes the activities of the production function?a. maintenance, inventory control, and production planningb. production planning, quality control, manufac-turing, and cost accountingc. quality control, production planning, manufac-turing, and payrolld. maintenance, production planning, storage, andquality controle. manufacturing, quality control, and maintenance
Identify the following users as either an internal (I) or an external (E) user. Production supervisor
Systems Concepts, Traditional versus Activity-Based Cost Accounting Systems The following items are associated with a traditional cost accounting information system, an activity-based cost accounting information system, or both (that is, some elements are common to the two systems): Required: 1. Select the appropriate categories for each of the following items: a. Usage of direct materials b. Direct materials cost assigned to products using direct tracing c. Direct labor cost incurrence d. Direct labor cost assigned to products using direct tracing e. Setup cost incurrence f. Setup cost assigned using number of setups as the activity driver g. Setup cost assigned using direct labor hours as the activity driver h. Cost accounting personnel i. Submission of a bid, using product cost plus 25 percent j. Purchasing cost incurrence k. Purchasing cost assigned to products using direct labor hours as the activity driver l. Purchasing cost assigned…
What specific components should a AIS need to suit a typical company? inputting; storing; processing; aggregating: presenting and storing Inputting, processing and storing finding; analyzing; processing; and storing none of the above
Define and explain the cost management information system's two major subsystems.
– Based on the assignment and what you know about managementaccounting, what do you believe is the purpose of a cost element? - What is one advantage of creating a vendor master record?
_ _ _ _need distrebution the cost of service centers to the production center.
An engineering company is looking for a software solution to manage their inventory and distribution.Name the four main activities of systems analysis that could be applied in the given situation.