Exercise 1 For each of the following activities, identify the main role the accountant is performing - problem solving, scorekeeping, or attention directing. 1. Preparing a monthly statement of Australian sales for the IBM marketing vice president. 2. Interpreting differences between actual results and budgeted amounts on . performance report for the Customer Warranty Department of General Electric. 3. Preparing a schedule of depreciation for forklift trucks in the Receivino Department of a Hewlett-Packard plant in Scotland. Mitrubishi international manufacturing manager, the
Exercise 1 For each of the following activities, identify the main role the accountant is performing - problem solving, scorekeeping, or attention directing. 1. Preparing a monthly statement of Australian sales for the IBM marketing vice president. 2. Interpreting differences between actual results and budgeted amounts on . performance report for the Customer Warranty Department of General Electric. 3. Preparing a schedule of depreciation for forklift trucks in the Receivino Department of a Hewlett-Packard plant in Scotland. Mitrubishi international manufacturing manager, the
Cornerstones of Cost Management (Cornerstones Series)
4th Edition
ISBN:9781305970663
Author:Don R. Hansen, Maryanne M. Mowen
Publisher:Don R. Hansen, Maryanne M. Mowen
Chapter7: Allocating Costs Of Support Departments And Joint Products
Section: Chapter Questions
Problem 30E: A company uses charging rates to allocate service department costs to the using departments. The...
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Variance Analysis
In layman's terms, variance analysis is an analysis of a difference between planned and actual behavior. Variance analysis is mainly used by the companies to maintain a control over a business. After analyzing differences, companies find the reasons for the variance so that the necessary steps should be taken to correct that variance.
Standard Costing
The standard cost system is the expected cost per unit product manufactured and it helps in estimating the deviations and controlling them as well as fixing the selling price of the product. For example, it helps to plan the cost for the coming year on the various expenses.
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SCOREKEEPING- which enables both internal and external parties to evaluate organizational performance and position.
Attention Directing- helps manager to focus on operating problems, opportunities as well as inefficiencies. This is commonly associated with current planning and control and the analysis and investigation of recurring routine internal accounting reports to signal situation in which management action may required.
Problem Solving- quantification of the relative merits of possible courses of action as well as recommendations as the best procedure.
P.s. I have included the meaning of the three choices.
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