EBK ACCOUNTING PRINCIPLES
13th Edition
ISBN: 9781119411017
Author: Weygandt
Publisher: WILEY
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Chapter 19, Problem 18E
To determine
Introduction:
To match: The terminology which best describes the various managerial accounting practices as per the statements.
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The following is a list of terms related to managerial accounting practices.
1.
Activity-based costing.
2.
Just-in-time inventory.
3.
Balanced scorecard.
4.
Value chain.
Match each of the terms with the statement below that best describes the term.
Terms
Description
(a)
Activity-based CostingBalanced ScorecardJust-in-time InventoryValue Chain
A performance-measurement technique that attempts to consider and evaluate all aspects of performance using financial and nonfinancial measures in an integrated fashion.
(b)
Activity-based CostingBalanced ScorecardJust-in-time InventoryValue Chain
The group of activities associated with providing a product or performing a service.
(c)
Activity-based CostingBalanced ScorecardJust-in-time InventoryValue Chain
An approach used to reduce the cost associated with handling and holding inventory by reducing the amount of inventory on hand.
(d)
Activity-based CostingBalanced…
Describe the Relationship of the below mentioned managerial accounting concepts :
i. Cost Reduction and Kaizen Team Changes
ii. the balanced scorecard integrates financial and non-financial measures
Much of managerial accounting information is based on:a, cost-benefit analysisb. profit maximizationc. the generation of external informationd. effectiveness but not efficiencye. cost minimization
Chapter 19 Solutions
EBK ACCOUNTING PRINCIPLES
Ch. 19 - Prob. 1QCh. 19 - Prob. 2QCh. 19 - Prob. 3QCh. 19 - Prob. 4QCh. 19 - Prob. 5QCh. 19 - Prob. 6QCh. 19 - Prob. 7QCh. 19 - Prob. 8QCh. 19 - Prob. 9QCh. 19 - Prob. 10Q
Ch. 19 - 12. Identify the differences in the cost of goods...Ch. 19 - Prob. 12QCh. 19 - Prob. 13QCh. 19 - Prob. 14QCh. 19 - Prob. 15QCh. 19 - Prob. 16QCh. 19 - Prob. 17QCh. 19 - 19. Discuss whether the product costing techniques...Ch. 19 - Prob. 19QCh. 19 - Prob. 20QCh. 19 - Prob. 21QCh. 19 - Prob. 22QCh. 19 - Prob. 23QCh. 19 - Prob. 24QCh. 19 - Prob. 25QCh. 19 - Prob. 1BECh. 19 - Prob. 2BECh. 19 - Prob. 3BECh. 19 - Prob. 4BECh. 19 - Prob. 5BECh. 19 - Prob. 6BECh. 19 - Prob. 7BECh. 19 - Prob. 8BECh. 19 - Prob. 9BECh. 19 - Prob. 10BECh. 19 - Prob. 11BECh. 19 - Prob. 1DIECh. 19 - Prob. 2DIECh. 19 - Prob. 3DIECh. 19 - DO IT! 19-4 Match the descriptions that follow...Ch. 19 - Prob. 1ECh. 19 - E19-2 Presented below is a list of costs and...Ch. 19 - E19-3 Trak Corporation incurred the following...Ch. 19 - Prob. 4ECh. 19 - Prob. 5ECh. 19 - Prob. 6ECh. 19 - Prob. 7ECh. 19 - Prob. 8ECh. 19 - Prob. 9ECh. 19 - Prob. 10ECh. 19 - Prob. 12ECh. 19 - Prob. 13ECh. 19 - Prob. 14ECh. 19 - Prob. 15ECh. 19 - Prob. 16ECh. 19 - Prob. 17ECh. 19 - Prob. 18ECh. 19 - P19-1A Ohno Company specializes in manufacturing a...Ch. 19 - Prob. 2PSACh. 19 - Prob. 3PSACh. 19 - Prob. 4PSACh. 19 - Prob. 5PSACh. 19 - Prob. 1EYCTCh. 19 - Prob. 2EYCTCh. 19 - Prob. 3EYCTCh. 19 - Prob. 4EYCTCh. 19 - Prob. 5EYCTCh. 19 - Prob. 7EYCT
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- An effective managerial accounting system should track information about an organizations activities in which of the following areas? a. Development b. Marketing c. Production d. Design e. All of these.arrow_forwardWhen managerial accountants design an evaluation system that is based on criteria for which a manager is responsible, and it is structured to encourage managers to make decisions that will meet the goals of the company as well as their own personal job goals, the framework used is _______. A. a controllable factors framework B. an uncontrollable factors framework C. a strategic plan framework D. a responsibility accounting frameworkarrow_forwardShould a managerial accounting system provide both financial and nonfinancial information? Explain.arrow_forward
- Compare and contrast short- and long-term goals for a company. Give an example of each, and explain why they are important for performance measurement systems.arrow_forwardAll of the following are examples of managerial accounting activities except ________. A. preparing external financial statements in compliance with GAAP B. deciding whether or not to use automation C. making equipment repair or replacement decisions D. deciding whether or not to use automationarrow_forwardAn important goal of a responsibility accounting framework is to help ensure which of the following? A. decision-making is made by the top executives. B. investments made by each segment are minimized. C. identification of operating segments that should be closed. D. segment and company financial goals are congruent.arrow_forward
- Explain the difference between FIFO and LIFO methods . Provide example for each method. The subject is Managerial Accounting.arrow_forwardWhich of the following is a characteristic of managerial accounting? a. There is an internal focus. b. Subjective information may be used. c. There is an emphasis on the future. d. It is broad-based and multidisciplinary e. All of thesearrow_forward1. Managerial accounting helps managers make planning decisions. Which of the following is related to the Planning function? Group of answer choices Establishing goals at the beginning of a period and identifying steps on how to achieve them Comparing actual results with the expected results at the end of a period Monitoring business operations during a period Evaluating mid-level managers and providing feedback 2. Classification of Direct and Indirect costs is based on: Group of answer choices When the costs are reported to income statement. How easily and cost-effectively product costs can be traced to cost objects. When the costs are reported to balance sheet. Whether the costs are substantial part of the total product costs. 3. The finished goods inventory account is used to record: Group of answer choices The costs of products that are complet and ready to sell The cost of materials not yet put into production The costs of products that are in production but that…arrow_forward
- Which of the following is the principle reason for preparing managerial accounting reports? a.clarity b.usefulness to management c.GAAP d.cost of preparationarrow_forwardPLEASE ANSWER ALL 1. Management Accountinga. Is concerned with costing products.b. Is governed by generally accepted accounting principles.c. Pertains to the entity as a whole and is highly aggregated.d. Places emphasis on a special-purpose information. 2. What broad functions do management of an organization perform?a. Directing, manufacturing, and controllingb. Planning, directing, and controllingc. Planning, directing, and sellingd. Planning, manufacturing, and controlling 3. Management accounting information is generally prepared fora. Stockholders.b. Managers.c. Regulatory Agencies.d. Investors.arrow_forwardChoose the correct answer(several answer options) Managerial Accounting… O …numbers have to be in line with the GAAP applied O …should assist external stakeholders in decision-making O …includes cost accounting as on of its major tools O …numbers are applied in financial / external accounting in certain casesarrow_forward
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