Materials management can be organized as either a cost center or a profit center. True False Culturally, materials mana...
Materials management can be organized as either a cost center or a profit center.
True
False
Culturally, materials management is similar to housekeeping and maintenance.
True
False
Homework Answers
Answer : False ( Materials management is the capability firms use to plan total material requirements. The material requirements are communicated to procurement and other functions for sourcing.)
Answer: True ( The materials planning, purchasing, inventory planning, storage, inventory control, materials supply, transportation and materials handling are the activities which are part of the materials management)
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Materials management can be organized as either a cost center or a profit center. True False Culturally, materials mana...
True or False 1.A profit center is an organizational segment in which the manager is responsible...
True or False 1.A profit center is an organizational segment in which the manager is responsible for costs and revenues, but not investments in assets. 2.Operating assets would include office buildings leased to other companies. 3.Residual income is the portion of income produced by the division that is not related to its daily activities. 4.Although economic value added (EVA) is similar to residual income, adjustments are made to the financial information to better reflect the economic results of the division....
QUESTION 20 A basic assumption of the cost-volume-profit model is that: Cost drivers can be organized...
QUESTION 20 A basic assumption of the cost-volume-profit model is that: Cost drivers can be organized into unit-level, batch-level, product-level and facility level factors Higher volumes of product require lower prices The mix of products changes over time All costs can be accurately classified as either fixed or variable
Transfer prices may be used when decentralized units are organized as cost, profit, or investment centers....
Transfer prices may be used when decentralized units are organized as cost, profit, or investment centers. True False
A company shall always drop a profit center that is losing money. A) True B) False
A company shall always drop a profit center that is losing money. A) True B) False
Management must set pricing objectives based on the primary objective of making a profit. True False
Management must set pricing objectives based on the primary objective of making a profit. True False
Carrier Corporation's Syracuse plant is organized into Air Conditioning and Heating Products divisions. The management of...
Carrier Corporation's Syracuse plant is organized into Air Conditioning and Heating Products divisions. The management of the Syracuse plant should evaluate the Heating Products division as: - A profit center (other than an investment center). - A cost center. - An investment center. - A revenue center.
TRUE OR FALSE Overhead Cost : A. True or False / It is usually better to...
TRUE OR FALSE Overhead Cost : A. True or False / It is usually better to spread fixed factory overhead costs over more units compared to fewer units (as long as the units made can be sold). B.True or False / If actual variable overhead per unit is less than budgeted variable overhead, then the variance will be unfavorable. C. True or False / In general, the more overhead incurred, the higher the resulting profit.
1. Managers in a cost center are held responsible for both the costs and volumes of...
1. Managers in a cost center are held responsible for both the costs and volumes of inputs used to produce a product or provide a service. True False 2. Properly designed management control systems have both fixed compensation and contingent compensation. True False 3. Properly designed management control systems will eliminate fraudulent behavior by maximizing goal congruence within the organization. True False 4. A master budget consists of a one-year plan linked to (a) organizational goals, (b) strategic long-range profit...
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...
TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You...
TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False. Example: If you believe sub-question 2.11 is true, then write down: 2.11: True. 2.1. Peter is a plumber. He employs three workers and has some capital in...
QUESTION 20 A basic assumption of the cost-volume-profit model is that: Cost drivers can be organized into unit-level, batch-level, product-level and facility level factors Higher volumes of product require lower prices The mix of products changes over time All costs can be accurately classified as either fixed or variable
Transfer prices may be used when decentralized units are organized as cost, profit, or investment centers. True False
Management must set pricing objectives based on the primary objective of making a profit. True False
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...
TRUE/FALSE QUESTIONS Consider the following list of statements. Each statement is either true or false. You must read each statement carefully and then select the option that you believe is correct as your answer. In your answer book, write down only the question number and next to the number either True or False. Example: If you believe sub-question 2.11 is true, then write down: 2.11: True. 2.1. Peter is a plumber. He employs three workers and has some capital in...
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