Support department costs are normally accounted for as which of the following responsibility center classifications? a....
Support department costs are normally accounted for as which of the following responsibility center classifications?
a. profit center
b. cost center
c. revenue center
d. investment center
Homework Answers
Please find below the solution .. let me know if you need any clarification..
correct answer is option b) Cost center.
Support deparment is not responsible for sales and not they work directly to generate profit. They provide business enabiling support. Therefore correct answer is option b) Cost center.
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Support department
costs are normally accounted for as which of the following
responsibility center classifications?
a....
Identify which responsibility center would best describe the following: The production line of American Apparel, where...
Identify which responsibility center would best describe the following: The production line of American Apparel, where clothing is manufactured. A. Revenue Center B. Cost Center C. Profit Center D. Investment Center The subscription sales department of the New York Times. A. Revenue Center B. Cost Center C. Profit Center D. Investment Center The corporate division of Disney, Inc. responsible for revenues, costs, and managing its division's assets. A. Revenue Center B. Cost Center C. Profit Center D. Investment Center A...
Which of the following is correct regarding responsibility centers? A. Traceable costs, as used in a...
Which of the following is correct regarding responsibility centers? A. Traceable costs, as used in a responsibility accounting system, only consists of variable costs. B. Common fixed costs should be allocated to a segment and used to evaluate the segment’s performance. C. Cost centers, profit centers, and investment centers are all considered responsibility centers. D. Responsibility centers are primarily utilized in companies with centralized operations. E. If a manager is held responsible for generating revenue, controlling costs, and efficiently investing...
a profit center is wrong， so which is right answer？ A responsibility center in which the...
a profit center is wrong， so which is right answer？
A responsibility center in which the department manager is responsible for costs, revenues, and assets for a department is called: O a profit center Oa cost center Oan operating center Oan investment center
The responsibility center in which the manager has responsibility and authority over revenues and costs, but...
The responsibility center in which the manager has responsibility and authority over revenues and costs, but not assets, is the Multiple Choice revenue center investment center, profit center. cost center The minimum required rate of return for a project is the: Multiple Choice Ο accounting rate of return. Ο hurdle rate. Ο annual rate of return. Ο internal rate of return.
Each of the following situations describes an organizational unit. Identify which type of responsibility center each...
Each of the following situations describes an organizational unit. Identify which type of responsibility center each underlined item is (cost, revenue, profit, or investment Center Organization Type of Responsibility Center (Cost, Revenue, Profit, or Investment) Revenue a. Sherwin-Willams Store 1933 is located in Copley, Ohio. The store sells paints, wallpapers, and supplies to do-it-yourself customers and to professional wall covering installers. b. The Accounting Research and Compliance Department at FirstEnergy is responsible for researching how new accounting pronouncements and rules...
Support departments are sometimes known as ________. service departments marketing departments production departments manufacturing departments Which...
Support departments are sometimes known as ________. service departments marketing departments production departments manufacturing departments Which of the following departments is necessary for production, but is not directly involved in production? Manufacturing department Construction department Production department Maintenance department Support departments are normally accounted for as a(n) __________. investment center cost center profit center None of the above
QUESTION 29 A company is analyzing the performance of responsibility centers. Controllable costs would be included...
QUESTION 29 A company is analyzing the performance of responsibility centers. Controllable costs would be included in the performance reports of which of the following types of responsibility centers? Profit Centers No Yes Yes No Investment centers No A) B) C) D) Yes Yes A) ОВ) o C) o D) QUESTION 30 Profit center managers are often evaluated using return on investment (ROl) or residual income measures. O True False QUESTION 31 An opportunity cost is the potential benefit that...
Which of the following departments is necessary for production, but is not directly involved in production?...
Which of the following departments is necessary for production, but is not directly involved in production? Manufacturing department Construction department Production department Maintenance department Support departments are normally accounted for as a(n) __________. investment center cost center profit center None of the above . When the ________ method is used to apply overhead to products, support department costs are simply combined with all other overhead costs. multiple production department rates single plantwide rate activity-based costing None of the above
UUTINI ate.. QUESTION 16 A responsibility center in which the authority over and responsibility for costs...
UUTINI ate.. QUESTION 16 A responsibility center in which the authority over and responsibility for costs and revenues is vested in the department manager is termed a profit center. True False QUESTION 17 The minimum amount of desired divisional income from operations is set by top management by establishing a minimum rate of return considered acceptable for invested assets. True False QUESTION 18 Service department charges are similar to the expenses of a profit center that purchased services from a...
Which responsibility centers generate both revenues and costs? Question 20 options: Investment and profit centers Profit...
Which responsibility centers generate both revenues and costs? Question 20 options: Investment and profit centers Profit and cost centers Cost and investment centers Only profit centers A profit center is Question 21 options: a responsibility center that always reports a profit. a responsibility center that incurs costs and generates revenues. evaluated by the rate of return earned on the investment allocated to the center. referred to as a loss center when operations do not meet the company's objectives.
a profit center is wrong， so which is right answer？
A responsibility center in which the department manager is responsible for costs, revenues, and assets for a department is called: O a profit center Oa cost center Oan operating center Oan investment center
The responsibility center in which the manager has responsibility and authority over revenues and costs, but not assets, is the Multiple Choice revenue center investment center, profit center. cost center The minimum required rate of return for a project is the: Multiple Choice Ο accounting rate of return. Ο hurdle rate. Ο annual rate of return. Ο internal rate of return.
Each of the following situations describes an organizational unit. Identify which type of responsibility center each underlined item is (cost, revenue, profit, or investment Center Organization Type of Responsibility Center (Cost, Revenue, Profit, or Investment) Revenue a. Sherwin-Willams Store 1933 is located in Copley, Ohio. The store sells paints, wallpapers, and supplies to do-it-yourself customers and to professional wall covering installers. b. The Accounting Research and Compliance Department at FirstEnergy is responsible for researching how new accounting pronouncements and rules...
QUESTION 29 A company is analyzing the performance of responsibility centers. Controllable costs would be included in the performance reports of which of the following types of responsibility centers? Profit Centers No Yes Yes No Investment centers No A) B) C) D) Yes Yes A) ОВ) o C) o D) QUESTION 30 Profit center managers are often evaluated using return on investment (ROl) or residual income measures. O True False QUESTION 31 An opportunity cost is the potential benefit that...
UUTINI ate.. QUESTION 16 A responsibility center in which the authority over and responsibility for costs and revenues is vested in the department manager is termed a profit center. True False QUESTION 17 The minimum amount of desired divisional income from operations is set by top management by establishing a minimum rate of return considered acceptable for invested assets. True False QUESTION 18 Service department charges are similar to the expenses of a profit center that purchased services from a...
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