A systemwide, integrated approach that focuses management's attention on activities with the objective of improving customer...
A systemwide, integrated approach that focuses management's attention on activities with the objective of improving customer value and the profit achieved by providing this value is: activity-based costing activity-based management activity-based analysis none of the above
Homework Answers
OPTION: Activity based management
EXPLANATION:
It basically involves following aspects: driver analysis, activity analysis and performance evaluation. furthermore, It uses activity-based costing as a major source of information.
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A systemwide, integrated approach that focuses management's attention on activities with the objective of improving customer...
Managing activities across the value chain represents a comprehensive integrated approach to the ...
Managing activities across the value chain represents a
comprehensive integrated approach to the traditional management
functions of planning and control. Eliminating non-value-added
activities from the chain is central to this strategic approach to
cost management.
Smith Corporation is considering the implementation of a JIT
inventory system. The company recently analyzed its cycle time to
determine the average number of days spent in each activity of its
production process.
Activity analysis is an important approach to operations control and the successful implementation of activity-based cost...
Activity analysis is an important approach to operations control and the successful implementation of activity-based cost management (ABCM). Which of the following procedures is not part of activity analysis? Multiple Choice O Chart from start to finish the activities used to complete the product or service. Classify all activities as either value-added or nonvalue-added activities O identify the process objectives as defined by what the customer desires from the process. O Compute the predetermined rate per activity by dividing the...
Question 8 The designing and organizing competency Focuses on organizational structure and culture b Focuses on...
Question 8 The designing and organizing competency Focuses on organizational structure and culture b Focuses on having a flexible structure to meet the needs of employees Focuses on the aesthetics of the physical space where employees work Od Focuses on the same type of activities that are included in the competency for planning and coordinating projects Focuses on deciding how to organize information flows to be more efficient Question 9 Which of the following key components of visions often proves...
Danna Martin, president of Mays Electronics, was concerned about the end-of-the year marketing report that she...
Danna Martin, president of Mays Electronics, was concerned about the end-of-the year marketing report that she had just received. According to Larry Savage, marketing manager, a price decrease for the coming year was again needed to maintain the company's annual sales volume of integrated circuit boards (CBs). This would make a bad situation worse. The current selling price of $18 per unit was producing a $2-per-unit profit—half the customary $4-per-unit profit. Foreign competitors kept reducing their prices. To match the...
Listed below are eight technical accounting terms introduced or emphasized in this chapter: Activity-based management Value-added...
Listed below are eight technical accounting terms introduced or emphasized in this chapter: Activity-based management Value-added activit) Target costing Just-in-tiime manufacturing system Each ofthe following statements may (or may not) describe one of these technical terms. In the space provided below each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms Life-cycle costing Non-value-added activity Total quality management Cycle time a The process ofusing activity-based costs to helpreduce or...
Need help by 6pm today. Problem 5-65 Customer-Profitability Analysis; Activity-Based Costing Fresno Fiber Optics, Inc. manufactures...
Need help by 6pm today.
Problem 5-65 Customer-Profitability Analysis; Activity-Based Costing Fresno Fiber Optics, Inc. manufactures fiber optic cables for the computer and telecommunications industries. At the request of the company vice president of marketing, the cost management staff has recently completed a customer-profitability study. The following activity-based costing information was the basis for the analysis. Customer Related Activities Cost Driver Base Cost Driver Rate Sales activity Sales vists $1,000 Order taking Purchase orders 200 Special handling Units handled Special...
Danna Martin, president of Mays Electronics, was concerned about the end-of-the year marketing report that she...
Danna Martin, president of Mays Electronics, was concerned about the end-of-the year marketing report that she had just received. According to Larry Savage, marketing manager, a price decrease for the coming year was again needed to maintain the company's annual sales volume of integrated circuit boards (CBs). This would make a bad situation worse. The current selling price of $18 per unit was producing a $2-per-unit profit—half the customary $4-per-unit profit. Foreign competitors kept reducing their prices. To match the...
P 5.49 Customer Profitability analysis Ellie Mosk, CEO of X-Space Industries, decided to expand the company's...
P 5.49 Customer Profitability analysis Ellie Mosk, CEO of X-Space Industries, decided to expand the company's product offering beyond the core model rocket business. After investigation, she decided to set up a separate division to design and manufacture products for the drone market. Several companies were interested in having X-Space develop these drones, and financial results, to date, have been encouraging. Revenue was $4 million, gross margins have been running about 40%, and the customer sales and support costs were...
Family Food Distributor (FFD) distributes products to grocery stores. The company began operation sixth months ago with...
Family Food Distributor (FFD) distributes products to grocery stores. The company began operation sixth months ago with three major customers: Seven Eleven, Family Mart and Wellcome. For the latest month, FFD has the following customer profitability report: Seven Family Eleven Mart Wellcome Total Revenues $45,000 $63,000 $52,000 $160,000 Costs of goods sold 31,500 44,100 36,400 112,000 Gross profit 13,500 18,900 15,600 48,000 Store support 15,000 15,000 15,000 45,000 Customer profit margin (1,500) 3,900 600 $3,000 The store support costs totaling...
Problem 3: Activity-Based Costing (20 points) University Student Cleanup provides housecleaning services to its clients (primarily...
Problem 3: Activity-Based Costing (20 points) University Student Cleanup provides housecleaning services to its clients (primarily university students). During its first year, USC had a simple business model where it charged its customers $24 per hour for services while paying its cleaning specialists $12 per hour. The owner simply assumed the 100% markup over hourly direct labor costs would be enough to cover all additional costs and make a good profit. Unfortunately, this did not tum out to be the...
Managing activities across the value chain represents a
comprehensive integrated approach to the traditional management
functions of planning and control. Eliminating non-value-added
activities from the chain is central to this strategic approach to
cost management.
Smith Corporation is considering the implementation of a JIT
inventory system. The company recently analyzed its cycle time to
determine the average number of days spent in each activity of its
production process.
Activity analysis is an important approach to operations control and the successful implementation of activity-based cost management (ABCM). Which of the following procedures is not part of activity analysis? Multiple Choice O Chart from start to finish the activities used to complete the product or service. Classify all activities as either value-added or nonvalue-added activities O identify the process objectives as defined by what the customer desires from the process. O Compute the predetermined rate per activity by dividing the...
Question 8 The designing and organizing competency Focuses on organizational structure and culture b Focuses on having a flexible structure to meet the needs of employees Focuses on the aesthetics of the physical space where employees work Od Focuses on the same type of activities that are included in the competency for planning and coordinating projects Focuses on deciding how to organize information flows to be more efficient Question 9 Which of the following key components of visions often proves...
Listed below are eight technical accounting terms introduced or emphasized in this chapter: Activity-based management Value-added activit) Target costing Just-in-tiime manufacturing system Each ofthe following statements may (or may not) describe one of these technical terms. In the space provided below each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms Life-cycle costing Non-value-added activity Total quality management Cycle time a The process ofusing activity-based costs to helpreduce or...
Need help by 6pm today.
Problem 5-65 Customer-Profitability Analysis; Activity-Based Costing Fresno Fiber Optics, Inc. manufactures fiber optic cables for the computer and telecommunications industries. At the request of the company vice president of marketing, the cost management staff has recently completed a customer-profitability study. The following activity-based costing information was the basis for the analysis. Customer Related Activities Cost Driver Base Cost Driver Rate Sales activity Sales vists $1,000 Order taking Purchase orders 200 Special handling Units handled Special...
P 5.49 Customer Profitability analysis Ellie Mosk, CEO of X-Space Industries, decided to expand the company's product offering beyond the core model rocket business. After investigation, she decided to set up a separate division to design and manufacture products for the drone market. Several companies were interested in having X-Space develop these drones, and financial results, to date, have been encouraging. Revenue was $4 million, gross margins have been running about 40%, and the customer sales and support costs were...
Problem 3: Activity-Based Costing (20 points) University Student Cleanup provides housecleaning services to its clients (primarily university students). During its first year, USC had a simple business model where it charged its customers $24 per hour for services while paying its cleaning specialists $12 per hour. The owner simply assumed the 100% markup over hourly direct labor costs would be enough to cover all additional costs and make a good profit. Unfortunately, this did not tum out to be the...
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