Who among the following uses accounting information to know the possible wage increments? O a. Bankers O b. Customers OC Employees d. Owners
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- (Appendix 11A) Balanced Scorecard The following list gives a number of measures associated with the Balanced Scorecard: a. Number of new customers b. Percentage of customer complaints resolved with one contact c. Unit product cost d. Cost per distribution channel e. Suggestions per employee f. Warranty repair costs g. Consumer satisfaction (from surveys) h. Cycle time for solving a customer problem i. Strategic job coverage ratio j. On-time delivery percentage k. Percentage of revenues from new products Required: 1. Classify each performance measure as belonging to one of the following perspectives: financial, customer, internal business process, or learning and growth. 2. Suggest an additional measure for each of the four perspectives.Dake Coporaton elevant ange of actvity s 2800 unts 060 unes henolloesDirect aterialsDirect laborVariable anfacturing verheadFixed manufacturing overbeadFived selling eNpeeseFixed adainistrative espeseSales commissioesVariable aninistrative eeseegeMule ChoceCest peatFor financial repotg parpses the otal amaut of arotuct coss ue t make &neeINPUT VALIDATIONDescribe the types of input edits used for the following data in a payrollsystem. a. Employee nameb. Employee numberc. Social security number d. Rate per hour or salarye. Marital statusf. Number of dependents g. Cost centerh. Regular hours workedi. Overtime hours worked
- 10 - In cases where actual costs are applied, all of the expenses collected in the expense accounts; In case of using predetermined cost methods, which accounts are used to ensure that the expenses determined according to them are reflected in the relevant accounts?A) Balance accountsB) Results AccountsC) Inflation Adjustment AccountsD) Reflection AccountsE) Difference AccountsQuestion Consider the following costs that were incurred during the current year and determine whether the cost is a product cost or a period cost.a) Advertising costs. ________b) Cost of Material used. ________c) CEO’s salary. ________d) Sales Commissions. ________Several important assumptions underlie CVP analysis. Assumptions often help simplify and focus our analysis of sales and costs. A common application of CVP analysis is as a tool to forecast sales, costs, and income. Required Assume that you are actively searching for a job. Prepare a half-page report identifying (1) three assumptions relating to your expected revenue (salary) and (2) three assumptions relating to your expected costs for the first year of your new job. Be prepared to discuss your assumptions in class.
- ncome Statement Effects of Alternative Denominator Activity Levels; SpreadsheetApplication At a recent board meeting of the Grayson Manufacturing Company, several individuals in attendance expressed concern that they could not understand how the choice of an activity levelfor determining overhead application rates for the company could affect reported operating profits.The controller, Susanna Wu, told members of the board that, in fact, companies have some latitude inhow overhead application rates are set. For example, she told members of the board that companiescan spread budgeted fixed overhead for the period over budgeted (forecasted) activity, normal capacity, practical capacity, or even theoretical (maximum) capacity. All of this didn’t resonate well withmembers of the board, who basically saw the discussion as just another example of how accountingcan be used to manage income (i.e., “cook the books”). The chair of the finance committee of theboard asked Susanna to generate a…Practice 2: a: Define standard costs. b: under what conditions should previously established standard costs be revised? c: explain why the determination of standard cost amounts should not be the sole responsibility of a company's cost accountant.11. Choose the scope of cost accounting that is primarily prepared for different level of management. a.Cost accounting b.Cost reports c.Cost analysis d.Cost comparison 12. according to which method of pricing, issues are made with the current market price. a.First in first out b.Simple average c.Weighted average d.Last in first out
- 6.Discuss the components in detail of the following financial statements for a manufacturing PLC:a. Statement of Profit or Loss (Income Statement)b. Statement of Financial Position (Balance Sheet)c. Statement of Changes in Owners’ Equityd. Statement of Cash Flows7. Explain cost accounting and its functions as well the distinguishing features of cost accounting systems for (a) job order costing, and (b) process costingWhich one is a Historical Cost a. office Rentb. Rent Factoryc. All the Aboved. Office salaryWhich of the following is considered a fixed cost? a) rent expense b) marketing costs record expenses c) when they occur and not when they are paid , as well as income when its earned d) workers compensation insurance