Managerial Accounting (5th Edition)
5th Edition
ISBN: 9780134067254
Author: Braun
Publisher: PEARSON
expand_more
expand_more
format_list_bulleted
Textbook Question
Chapter 10, Problem 10.1SE
Identify and understand responsibility centers (Learning Objective 1)
Fill in the blanks with the word or phrase that best completes each sentence. Not all words and phrases are used, and some may be used more than once.
cost center | investment center | lower |
revenue center | responsibility center | higher |
profit center | the same |
10.1-13 Full Alternative Text
- a. The Foodservice Sales Territory Manager in charge of General Mills’ Greater Baltimore/Washington, D. C., sales territory oversees a(n) __________.
- b. The payroll department of Target Corporation, a retailer, is a(n)__________. __________is any segment of the business whose
manager is accountable for specific activities. - c. The Bakery Department of Whole Foods Market, Inc., would be considered to be a(n) __________.
- d. The Procter & Gamble Company headquarters, located in Cincinnati, Ohio, would be a(n) __________.
- e. The Floral Department at the Middletown, Maryland, Safeway grocery store would be considered to be a(n) __________.
- f. Toyota Motor North America, a division of Toyota Motor Corporation, is a(n) __________.
- g. The production line at the Honda plant in Lincoln, Alabama, where Honda Pilot sport utility vehicles are manufactured, is considered to be a(n) __________.
- h. The Boise, Idaho, location of the Olive Garden chain restaurant would be a(n) __________.
- i. Managers of cost and revenue centers are at __________ levels of the organization than are managers of investment centers.
Expert Solution & Answer
Want to see the full answer?
Check out a sample textbook solutionStudents have asked these similar questions
Profit Planning and Control
This case is a manufacturer and could make specialty bikes, ski or outdoor equipment, computers, food like chocolates, saltwater taffy, cookies, or donuts, etc.
Create the balance sheet, income statement, and statement of the cash flow from the following information.
Use the following information for the learning experiences
Sales volume units = 11,000
Sales price/unit = $100
Variable manufacturing costs/unit = $60
Fixed manufacturing costs = $210,000
Fixed sales & administration costs = $190,000
Business income tax rate = 25%
Current assets = $250,000 (Cash $50,000, Accounts Receivables $100,000, Inventory $100,000)
Fixed assets = $750,000
Current liabilities = $200,000 (Accounts Payable $100,000, Short Term Debt $100,000)
Long Term Debt = $300,000
Owners' Equity = $500,000
Classify costs and make a quality-initiative decision (Learning Objective 5) Sinclair Corp. manufactures radiation-shielding glass panels . Suppose Sinclair is consider-ing spending the following amounts on a new TOM program :Strength-testing one item from each batch of panels ......................... . Training employees in TOM ................................................................. . Training suppliers in TOM .................................................................... . Identifying preferred suppliers that commit to on-time delivery ofperfect quality materials ................................................................... .Sinclair expects the new program to save costs through the following:Avoid lost profits from lost sales due to disappointed customers ....... Avoid rework and spoilage ................................................................. .. Avoid inspection of raw materials ........................................................ . Avoid…
You are the floor manager of Channel and have read the following learning outcomes: “Purchase Returns and Allowances”, “Customer Refunds and Allowances”, and “Merchandise Returns” (pg 149 – 155). As the manager, briefly explain the difference between
Purchase Returns and Allowances and Merchandise Returns.
Customer Refunds and Customer Allowances.
Chapter 10 Solutions
Managerial Accounting (5th Edition)
Ch. 10 - (Learning Objective 1) Companies often...Ch. 10 - (Learning Objective 1) Which of the following is...Ch. 10 - (Learning Objective 1) In terms of responsibility...Ch. 10 - (Learning Objective 2) Which of the following is...Ch. 10 - (Learning Objective 2) A segment margin is the...Ch. 10 - Prob. 6QCCh. 10 - Prob. 7QCCh. 10 - Prob. 8QCCh. 10 - Prob. 9QCCh. 10 - Prob. 10QC
Ch. 10 - Identify and understand responsibility centers...Ch. 10 - Identify types of responsibility centers (Learning...Ch. 10 - Identify centralized and decentralized...Ch. 10 - Prob. 10.4SECh. 10 - Prob. 10.5SECh. 10 - Prob. 10.6SECh. 10 - Calculate ROI (Learning Objective 3) Refer to Epic...Ch. 10 - Prob. 10.8SECh. 10 - Prob. 10.9SECh. 10 - Prob. 10.10SECh. 10 - Prob. 10.11SECh. 10 - Interpret a performance report (Learning Objective...Ch. 10 - Prob. 10.13SECh. 10 - Classify KPIs by balanced scorecard perspective...Ch. 10 - Use vocabulary terms (Learning Objectives 1, 2, 3,...Ch. 10 - Prob. 10.16SECh. 10 - Identify type of responsibility center (Learning...Ch. 10 - Complete and analyze a performance report...Ch. 10 - Prepare a segment margin performance report...Ch. 10 - Compute and interpret the expanded ROI equation...Ch. 10 - Prob. 10.21AECh. 10 - Prob. 10.22AECh. 10 - Comparison of ROI and residual income (Learning...Ch. 10 - Prob. 10.24AECh. 10 - Comprehensive flexible budget problem (Learning...Ch. 10 - Prepare a flexible budget performance report...Ch. 10 - Work backward to find missing values (Learning...Ch. 10 - Construct a balanced scorecard (Learning Objective...Ch. 10 - Sustainability and the balanced scorecard...Ch. 10 - Identify type of responsibility center (Learning...Ch. 10 - Complete and analyze a performance report...Ch. 10 - Prob. 10.32BECh. 10 - Prob. 10.33BECh. 10 - Prob. 10.34BECh. 10 - Prob. 10.35BECh. 10 - Prob. 10.36BECh. 10 - Prob. 10.37BECh. 10 - Prob. 10.38BECh. 10 - Prob. 10.39BECh. 10 - Prob. 10.40BECh. 10 - Prob. 10.41BECh. 10 - Sustainability and the balanced scorecard...Ch. 10 - Prepare a budget with different volumes for...Ch. 10 - Prepare and interpret a performance report...Ch. 10 - Prob. 10.45APCh. 10 - Prob. 10.46APCh. 10 - Prob. 10.47APCh. 10 - Evaluate subunit performance (Learning Objectives...Ch. 10 - Prob. 10.49BPCh. 10 - Prob. 10.50BPCh. 10 - Evaluate divisional performance (Learning...Ch. 10 - Prob. 10.52BPCh. 10 - Determine transfer price at a manufacturer under...Ch. 10 - Evaluate subunit performance (Learning Objectives...Ch. 10 - Prob. 10.55SC
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
- You are the floor manager of Channel and have read the following learning outcomes: “Purchase Returns and Allowances”, “Customer Refunds and Allowances”, and “Merchandise Returns” (pg 149 – 155). As the manager, briefly explain the difference between Purchase Returns and Allowances and Merchandise Returns. Customer Refunds and Customer Allowances. Explain the difference between FOB Shipping Point and FOB Destination.arrow_forwardList the business, technological, and organizational challenges that were addressed throughout the project to implement a new learning management system, and explain the three-sphere model for systems management in your own words. Do not depend on the examples in the textbook.arrow_forwardMatch each concept with its best description by entering its letter A through E in the blank. 1. Just-in-time manufacturing A. Focuses on quality throughout the production process. 2. Continuous improvement B. Flexible product designs can be modified to accommodate customer choices. 3. Customer orientation C. Every manager and employee constantly looks for ways to improve company operations. 4. Total quality management D. Reports on financial, social, and environmental performance. 5. Triple bottom line E. Inventory is acquired or produced only as needed.arrow_forward
- ABC bank offers a Business Grant to encourage a fresh graduate to become an entrepreneur. However, to apply this Business Grant, you need to explain in general the overview of your business. Therefore, using the Business Model Canvas approach, develop your strategy to run ANY BUSINESS IDEA by illustrating Business Model Canvas based on NINE (9) areas, including customer segment, value proposition, marketing channels, customer relationships, key partners, key activities, key resources, cost structure, and revenue stream.arrow_forwardThe following if-then statements were taken from a Balanced Scorecard: a. If employee capabilities increase, then process time decreases. b. If process time decreases, then customer retention will increase. c. If customer retention increases, then market share will increase. d. If market share increases, then revenues will increase. Required: 1. Identify the lead and lag variables, and explain your reasoning. 2. Discuss the implications of Requirement 1 for the financial and learning and growth perspectives. 3. Using the first if-then statement, explain the concept of double-loop feedback.arrow_forwardPlease review the rubric prior to beginning the assignment to become familiar with the expectations for successful completion.You are required to submit this assignment to LopesWrite. Please refer to the directions in the Student Success Center.Paul Duncan, financial manager of EduSoft Inc., is facing a dilemma. The firm was founded 5 years ago to provide educational software for the rapidly expanding primary and secondary school markets. Although EduSoft has done well, the firm's founder believes an industry shakeout is imminent. To survive, EduSoft must grab market share now, and this will require a large infusion of new capital.Because he expects earnings to continue rising sharply and looks for the stock price to follow suit, Mr. Duncan does not think it would be wise to issue new common stock at this time. On the other hand, interest rates are currently high by historical standards, and the firm's B rating means that interest payments on a new debt issue would be prohibitive.…arrow_forward
- Taylor Construction builds custom homes in Dallas, Texas. Brandon Taylor knows that his future depends on the quality of the homes he builds and the service he provides to customers. Most new-customer sales arise from word-of-mouth advertising by former customers.Identify the balanced scorecard perspective for each measure in the exercise. Perspective a. Number of customer complaints Internal business processesCustomerLearning & growthFinancial b. Employee turnover Learning & growthFinancialInternal business processesCustomer c. Net profit per house constructed Learning & growthFinancialInternal business processesCustomer d. Turnaround time on customer design changes Learning & growthInternal business processesCustomerFinancial e. Hours of training per employee Learning & growthFinancialInternal business processesCustomer f. Average labor cost per house CustomerLearning &…arrow_forwardS15-8 Identify ethical standards violated (Learning Objectives 1, 2, & 3) For each of the situations listed, identify the primary standard from the IMA Statement of Ethical Professional Practice that is violated (competence, confidentiality, integrity, or credibility). Refer to Exhibit 1-7 for the complete standard. Chris is asked to prepare the GRI report for the year, but he has not attended GRI training. He decides to muddle his way through the report. George is frustrated because he feels that his company is not moving fast enough to adopt sustainable practices and GRI reporting. He talks to a reporter about some potential environmental fines the company might receive, thinking that if the company is embarrassed publicly, it will move faster on sustainability initiatives. Kayleigh does not disclose that her brother is the president of the consulting firm her organization is hiring for some GRI reporting work. Cynthia is a staff accountant at Briar Industries. Since Briar's GRI…arrow_forwarda) You have been recruited by Education-For-ALL (EFA), an NGO providing teaching and learning support for Students of Second Cycle Schools in Ghost Town, as a Cost Accounting Tutor. During a lesson on the topic “Nature and Scope of Cost Accounting”, a student raised his hand and asked you about what difference there is, if any, between cost accounting and financial accounting. Based on the scope, timing, users of accounting information, reports and standards, explain, with examples, the difference between cost accounting and financial accounting. Define the term Cost, and explain how cost of a product is ascertained when: i. a product is self-constructed or manufactured in-house. ii. a product is a finished product that has been imported. iii. a product is a finished product that has been purchased. Cost accounting as a sub accounting system provides cost information for financial accounting and managerial accounting. List two (2) each of the information cost accounting provides…arrow_forward
- One method of managing internal operations is to offer rewards or punishments to reinforce behaviors. Required: Share an interesting example of either a reward or punishment. An example is Zappos which offers a $4,000 reward for employees to quit during the training program. This is supposed to encourage people that are not invested in the mission/vision of Zappos to deliver superior customer service to quit! Please do fast ASAP ....fastarrow_forwardClick to watch the Tell Me More Learning Objective 1 video and then answer the questions below. 1. Which of the following manufacturers is most likely to use a process cost system? Purse manufacturer Sports drink manufacturer Automobile manufacturer Guitar manufacturer 2. Process and job order cost systems are similar in that both systems _______. record and summarize product costs classify product costs as direct materials, direct labor, and factory overhead allocate factory overhead costs to products All of these choices are correct.arrow_forwardCalculate a job cost using ABC (Learning Objective 2)Oliver Industries, a small, family-run manufacturer, has adopted an ABC system . The fol- lowing manufacturing activities, indirect manufacturing costs, and usage of cost drivers have been estimated for the year :54-7Direct materials ................................................................................ ? Direct labor ...................................................................................... ? Manufacturing overhead ...... .......... .......... ............. ................. .......... ? Total job cost .................................................................................... $?Classifying costs within the cost hierarchy (Learning Objective 2) Classify each of the following costs as either unit-level, batch-level, product-level, orfacility-level.a. Engineering costs for new productb. Order processingc. Depreciation on factoryd. Direct labore. Shipment of an order to a customerf. Product line manager…arrow_forward
arrow_back_ios
arrow_forward_ios
Recommended textbooks for you
- Cornerstones of Cost Management (Cornerstones Ser...AccountingISBN:9781305970663Author:Don R. Hansen, Maryanne M. MowenPublisher:Cengage Learning
Cornerstones of Cost Management (Cornerstones Ser...
Accounting
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Cengage Learning
What is Business Analysis?; Author: WolvesAndFinance;https://www.youtube.com/watch?v=gG2WpW3sr6k;License: Standard Youtube License