Being responsive to customer's needs means balancing all but which of the following? Answers: Production costs and feasibilities Engineering contraints Marketing challenges Government safety and regulations The budget
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Ma4.
Being responsive to customer's needs means balancing all but which of the following?
Answers:
Production costs and feasibilities
Engineering contraints
Marketing challenges
Government safety and regulations
The budget
Step by step
Solved in 2 steps
- Answer with logical reasoning. Give an example where needed i. How management accounting and cost accounting can be an efficient in monetary and non-monetary report management as compared to financial accounting reporting system. ii. How flexible budget through performance reporting is help for the management in determination of direct material cost control?Practice 3 : a) Explain the importance of incentive systems for motivating performance. b) Identify and explain the components of management compensation and the tradeoffs that compensation designers make. c) What is meant by the term flexible budget? What role do flexible budgets play in evaluating performance?Which approach requires management to justify all its expenditures? A. bottom-up approach B. zero-based budgeting C. master budgeting D. capital allocation budgeting
- Which of the following is not a part of budgeting? A. planning B. finding bottlenecks C. providing performance evaluations D. preventing net operating lossesWhich of the following is true in a bottom-up budgeting approach? Every expense needs to be justified. Supervisors tell departments their budget amount and the departments are free to work within those amounts. Departments budget their needs however they see fit. Departments determine their needs and relate them to the overall goals.1) Explain the concept of contribution and limiting factors and how it can be effectively used in decision making2) Explain what you understand by Budgets, Fixed Budgets and Flexible Budgets in the context of controland performance evaluation of an organization of your choice.
- Which one of the following is NOT a budgetary benefit? It establishes the organization's goal. It establishes communication between different levels of management. It reveals the organization's effectiveness. It aids in the measurement of production efficiency.Budgets are an integral part of management control systems. Evaluate this statement with real life example. CVP analysis help managers to take better decision. Justify with real life scenario. Standard cost systems provide companies with a number of advantages, argue the statement.1- What are the four cost categories of a costs of quality program? 2- What are relevant revenues and cost delays? 3- How do managers use financial and nonfinancial measures to evaluate quality? 4- Describe the three main measures used in the theory of constraints 5- What are the steps managers can take to manage bottlenecks?
- Required: Identify the problems that appear to exist in the company’s budgetary control system and explain how the problems are likely to reduce the effectiveness of the system. Explain how the company’s budgetary control system could be revised to improve its effectiveness.In service industries, what poses a unique challenge for cost management, requiring clear metrics and key performance indicators for effective control? A) Labor Costs B) Customer Expectations C) Technology Investments D) CompetitionA budget represents a target and aiming towards a target can be a powerful motivator. However, whether the target will actually cause employees to do better is thought to depend on how difficult the target is perceived to be. Required Evaluate the motivational considerations that should be made in the setting up of a budgetary planning and control system.
