An important consideration in establishing a measure map includes determining the a.mission of the organization b.leading and lagging indicators c.standard costs of the products being manufactured d.net income of the company

An important factor in the context of the measured map is nothing but the balanced scorecard…

Answered: An important consideration in…

Practical Management Science

6th Edition

ISBN:9781337406659

Author:WINSTON, Wayne L.

Publisher:WINSTON, Wayne L.

Chapter2: Introduction To Spreadsheet Modeling

Section: Chapter Questions

Problem 20P: Julie James is opening a lemonade stand. She believes the fixed cost per week of running the stand...

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Question

An important consideration in establishing a measure map includes determining the

a.
mission of the organization

b.
leading and lagging indicators

c.
standard costs of the products being manufactured

d.
net income of the company

Definition Definition System of assigning an estimated cost to the product (instead of the actual cost) so that the product cost can be determined well in advance and the pricing of the product can be done on time. Since the actual cost cannot be predicted at the initial stage of the production process, the estimated cost is recorded in the books. Any deviation of the estimated cost of the actual cost is adjusted in the books at the end of the period.

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