Managerial Accounting: Creating Value in a Dynamic Business Environment
11th Edition
ISBN: 9781259569562
Author: Ronald W Hilton Proffesor Prof, David Platt
Publisher: McGraw-Hill Education
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Chapter 1, Problem 8RQ
To determine
Differentiate line and staff positions and provide examples of each in a university setting.
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Distinguish between line and staff positions. Give two examples of each in a university setting.
Identify a particular support function of a college (the library, for example). Discuss possible allocation bases that might be used to allocate costs in the function to programs (degrees) or students.
Define direct costs and indirect costs and prepare a list of three direct and three indirect costs for the Accounting Department at your university.
Chapter 1 Solutions
Managerial Accounting: Creating Value in a Dynamic Business Environment
Ch. 1 - According to some estimates, the volume of...Ch. 1 - Prob. 2RQCh. 1 - List and define the four basic management...Ch. 1 - Prob. 4RQCh. 1 - Prob. 5RQCh. 1 - List and describe four important differences...Ch. 1 - Distinguish between cost accounting and managerial...Ch. 1 - Prob. 8RQCh. 1 - Prob. 9RQCh. 1 - How could your college or university use the...
Ch. 1 - What does the following statement by a managerial...Ch. 1 - What is meant by the following statement?...Ch. 1 - Prob. 13RQCh. 1 - Prob. 14RQCh. 1 - Prob. 15RQCh. 1 - Prob. 16RQCh. 1 - Prob. 17RQCh. 1 - What is meant by the term non-value-added costs?Ch. 1 - Managerial accounting is an important part of any...Ch. 1 - Can managerial accounting play an important role...Ch. 1 - Prob. 21RQCh. 1 - Prob. 22RQCh. 1 - Name several activities in the value chain of (a)...Ch. 1 - Define the term strategic cost management.Ch. 1 - Give an example of managerial accounting...Ch. 1 - For each of the following activities, explain...Ch. 1 - Dave Nelson recently retired at age 48, courtesy...Ch. 1 - Susan Lopez, a consultant with Deloitte Young,...Ch. 1 - Prob. 31PCh. 1 - Urban Elite Apparel designs womens apparel and...Ch. 1 - Prob. 33C
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- Identify activity bases For a major university, match each cost in the following table with the activity base most appropriate to it. An activity base may be used more than once or not used at all.arrow_forwardConsider education as a product. What are the direct costs and the indirect costs to a university in educating a student?arrow_forwardHow can the performance of colleges and universities be measured? What tools exist to assist with performance measurement?arrow_forward
- 1.  What are the four areas of the Balanced Scorecard? Identify and define them. Also, pick two areas and suggest how they might be used by a college/university.arrow_forwardDirect Method Seattle Western University has provided the following data to be used in its service department cost allocations: Required: Using the direct method, allocate the costs of the service departments to the two operating departments. Allocate the Administration cost on the basis of student credit-hours and the Facility Services cost on the basis of space occupied.arrow_forwardSelect all that apply  Which of the following are examples of operating departments? (Check all that apply.) Multiple select question. Geography department at a university Production department at a manufacturing firm Custodial department at a service firm Surgery department at a hospitalarrow_forward
- How could your college or university use the concepts in the balanced scorecard? List two possible performance measures that would be relevant to a college or university, for each of the balanced scorecard’s four areas.arrow_forwardDetermine the number of staff needed to cover classes.arrow_forwardBerkeley College wants to monitor the efficiency and quality of its course registration process. Please identify two input and two output measures for this process. Please explain why Berkeley College would use nonfinancial measures for this process.arrow_forward
- What are possible allocation bases that might be used to allocate costs in a library function to programs (degrees) or students.arrow_forwardDistinguish among a cost center, a profit center, and an investment center. Provide an example of each for a multi-hospital corporation.arrow_forwardPadma completed her doctoral degree and has taken a position as an assistant professor at a local university. She was given the following performance measures for her new position. Identify whether these goals are long or short term. A. Interact in a fair and impartial way with students. B. Promote and access student academic achievement. C. Counsel students within the norms of society and the regulations of the college. D. Motivate students. E. Effectively plan and organize lectures and labs in accordance with the college course outlines. F. Report class attendance in accordance with the college policy and procedure. G. Serve on academic committees as assigned. H. Make progress toward tenure necessary at her university.arrow_forward
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