Question Content Area Traditional manufacturing emphasizes all of the following except a. cost accumulation by department b. push manufacturing c. process-oriented layout d. team-oriented employee involvement
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Question Content Area
Traditional manufacturing emphasizes all of the following except
a. cost accumulation by departmentb. push manufacturingc. process-oriented layoutd. team-oriented employee involvement
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- Activity-based management includes both process value analysis and activity-based costing. Which of the following features is primarily associated with process value analysis? a. Defining root causes of each activity b. Identifying cost objects and activity drivers c. Calculating activity rate d. Assigning costs to cost objectsContrast activity-based costing (ABC) with activity-based management (ABM). Question content area bottom Part 1 A. Activity-based management is using a traditional costing system to improve the operations of an organization, while activity-based costing provides information regarding customer costs to improve the financial position of an organization. B. Activity-based cost information is using activity-based management to improve the operations of an organization. Managers use ABM information for decision making, planning, and control purposes. Appropriate activity-based management is vital for each of these purposes. C. Activity-based management is using activity-based cost information to improve the operations of an organization. Managers use ABC information for decision making, planning, and control purposes. Cost information is vital for each of these purposes. D. None of the above.Costs that are common to many different activities within an organization are known as ____ costs. Group of answer choices organizational-level unit-level batch-level product- or process-level
- The ____ costing system is the most useful system for management in planning ang controlling business activities such as in the use of CVP analysis and inventories management. A. Absorption B. variable C. job order D. standardApproaches to uture is commonly known as anaging changes to organitional processes and their structures and ther impact on staff and a Communication b. Change Management C Management Culture d. Business transformation E-change Management The number of sbordinates who report directly to an eecuive or supervisors known as the a Locus of control b Division of labor C degree of standardization d. Degree of specialization span of controlStandard cost systems facilitate the management practice known as A) management development.B) management by exception.C) just-in-time management.D) managing by the numbers.
- Systems Concepts, Traditional versus Activity-Based Cost Accounting Systems The following items are associated with a traditional cost accounting information system, an activity-based cost accounting information system, or both (that is, some elements are common to the two systems): Required: 1. Select the appropriate categories for each of the following items: a. Usage of direct materials b. Direct materials cost assigned to products using direct tracing c. Direct labor cost incurrence d. Direct labor cost assigned to products using direct tracing e. Setup cost incurrence f. Setup cost assigned using number of setups as the activity driver g. Setup cost assigned using direct labor hours as the activity driver h. Cost accounting personnel i. Submission of a bid, using product cost plus 25 percent j. Purchasing cost incurrence k. Purchasing cost assigned to products using direct labor hours as the activity driver l. Purchasing cost assigned…1 Why are top management support and cross-functional involvement crucial when attempting to implement an activity-based costing system? 2 What are unit-level, batch-level, product-level, customer-level, and organization-sustaining activities? 3 What types of costs should not be assigned to products in an activity-based costing system?Job Costing• Process Costing• Operation Costing (Hybrid Costing)• Activity-based Costing Based on your chosen costing article, how useful was the cost information to the internal users in the organisation? Discuss with examples from your costing article
- A manager's needs regarding cost management and accuracy in product costing, and the underlying production system, determine the choice of a(n) Costing system Manufacturing system Operation system Production system a. C. d. b. 3.Assume you have just been hired as the management accountant in charge of providing your firm’s managers with product cost information. Identify the activities you might undertake for the follow-ing four value chain components: a. Research and developmentb. Productionc. Marketingd. Customer serviceQuestion#5 Match the items in the two columns below by entering the appropriate code letter in the space provided.A. Managerial accounting F. Work in process inventoryB. Financial accounting G. Direct materialsC. Planning H. Manufacturing overheadD. Directing I. Period costsE. Controlling J. Value chain1. The cost of products that are partially complete.2. The function of keeping activities in accordance with plans. 3. Primarily concerned with internal users and reports pertain to subunits of the entity.4. Materials that can be physically and directly associated with manufacturing a product. 5. The function of setting goals and objectives.6. Indirect costs of manufacturing a product.7. Primarily concerned with external users and reports pertain to the entity as a whole.8. Costs that are noninventoriable.9. All business processes…