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Questions and Answers of
Management Accounting
The owner and managing director of Eaglet plc, a large, independent garage, is considering how to improve the company's management information system. The garage engages in 3 main activities: the
Sennapods plc is contemplating an organizational restructuring.At present, the company is organized functionally, as follows:Sennapods plc has 3 main product ranges, health foods, medications for the
The Grove Hotel has annual fixed costs applicable to rooms of $10 million for its 600-room hotel, average daily room rates of $105, and average variable costs of $25 for each room rented. It operates
Atlantic Jail requires a staff of at least one guard for every four prisoners. The jail will hold 48 prisoners. Atlantic has a beach that attracts numerous tourists and transients in the spring and
Explain the decision process you followed in making an important decision in the past which has now taken effect (e.g., the choice of a course of study and the university to attend; the choice of
Explain how totally utilitarian organizations can behave as if they were pursuing an agreed goal, giving some business examples.
A company is considering changing the price charged for one of its products. What information, both qualitative and quantitative, do you think it requires in order to evaluate whether or not this
How does a system go 'out of control'? Analyse three systems with which you are familiar, including at least one social system (i.e., involving several people) and one business system, in terms of
'Doing things wrong is a necessary pre-condition for learning'. To what extent is this statement true? Analyse its implications for:(a) the design of a production control system(b) the design of a
Design a set of controls that could be used to evaluate how weIl each of the following people were performing their jobs adequately:(a) a production worker on a car assembly line (b) a double-glazing
Design a system to control student learning on a degree course.Explicitly identify:(a) objectives, including possible conflicts(b) measures of performance to be used(c) the predictive model to be
How would you set about discovering what the goals of a specific organization are?
Why is it usually easier for a group of people to agree upon a plan of action than it is for them to agree on objectives? Give some counter-examples, and relate your answer to Earl and Hopwood's
Analyse the goals and performance measures used in any group of which you are a member (e.g., a tutorial group; a sports club; or an organization which employs you). How well do the performance
The costs of the Systems Support (SS) department (and other service departments) of Northwest Wood Products have always been charged to the three business divisions (Forest Resources, Lumber
Hassan Gurdezi, the director of cost operations of Micro Devices Company, wishes to develop the most accurate cost function to explain and predict support costs in the company's printed circuit board
Read the previous case. If you worked through this case, use your measured cost functions. If you did not work the previous problem, assume the following measured cost functions:Required Y =
Super Byte Company manufactures palm-sized portable computers. Because these very small computers compete with larger portable com- puters that have more functions and flexibility, understanding and
Berengar Ltd. is a small manufacturing company that pro- duces a variety of products using a number of different processes in different- sized job lots. For example, some products will be ordered in
Name four cost objects.
“Amortization is an expense for financial statement purposes.” Do you agree? Explain.
What is the advantage of the contribution approach compared with the absorption approach?
Distinguish between manufacturing and merchandising.
“With variable costing, only direct material and direct labour are inventoried.”Do you agree? Why?
“An increasing number of companies should not be using variable costing in their corporate annual reports.” Do you agree? Explain.
Define and differentiate among the following terms: cost, cost object, cost accu- mulation, cost allocation, direct costs, indirect costs, product costs, and period costs.
Define and identify examples of the three major categories of manufacturing costs, prime costs, and conversion costs.
Explain how the financial statements of merchandisers and manufacturers differ. 4. Compare income statements of a manufacturing company in both the absorption and contribution formats.
Identify the basic features that distinguish the variable costing approach from the absorption costing approach and the pros and cons of using one or the other.
Construct an income statement using the variable costing approach and the absorption costing approach.
Multiplex Cinema owns and operates a nationwide chain of movie theatres. The 500 properties in the Multiplex chain vary from low-volume, small-town, single-screen theatres to high-volume, bigcity,
The Atlantic Catering Company specializes in preparing tasty main courses that are frozen and shipped to the finer restaurants in the Halifax area. When a diner orders the item, the restaurant heats
A division of a computer company changed its production operations from one where a large labour force assembled electronic components to an automated production facility dominated by computer-
Explain step- and mixed-cost behaviour.
Explain management's influence on cost behaviour.
Measure and mathematically express cost functions and use them to predict costs.
Describe the importance of activity analysis for measuring cost functions.
Measure cost behaviour using the engineering analysis, account analysis, highlow, visual fit, and least squares regression methods.
What is the “relevant range”? Why is it important?
Explain linear-cost behaviour.
How do management’s product and service choices affect cost behaviour?
Why are committed fixed costs the most difficult to change of the fixed costs?
Explain the strengths and weaknesses of the high-low method and the visual fit method.
Ata conference, a consultant stated, “Before you can control, you must measure.” An executive complained, “Why bother to measure when work rules and guaranteed employment provisions in labour
In practice, there is often a tendency to simplify approximations of cost behaviour patterns, even though the “true” underlying behaviour is not simple. Choose from the accompanying graphs A
Identify and compute total monthly discretionary and total committed fixed costs from the following list prepared by the accounting supervisor for Nicholas Inc.: Advertising Amortization Company
Recreational Sports, an outdoor sports retailer, is considering automating its order-taking process. The estimated costs of two alternative approaches are below:At the expected level of orders, which
Wheatown Implement Company produces farm implements for various large vehicles used for farming. Wheatown is in the process of measuring its manufacturing costs and is particularly interested in the
From the following costs of a recent month, compute the total cost function and total cost for the month. Genial Computers, Inc. is a company started by two university students to market and assemble
The head of the Warehousing Division of the Lackton Co. was concerned about some cost-behaviour information given to her by the new assistant controller, who was hired because of his recent training
Let Y = total costs, X, = production volume, and X, = number of setups.Which of the following are linear cost functions? Which are mixed cost functions? a. Y = $1,000 b. Y = $8X, c. Y = $5,000+ $4X,
Evergreen Signs makes customized signs for businesses and residences.These signs are made of wood, which the owner glues and carves by hand or with power tools. After carving the signs, he paints
NewWave Technology, a manufacturer of printed circuit boards, has always costed its circuit boards with a 100 percent “markup” over its material costs to cover its manufacturing support costs
The president and the controller of Monterrey Transformer Company (Mexico) have agreed that refinement of the company’s cost measurements will aid planning and control decisions. They have asked
Ford Motor Co.had been outsourcing production to Mazda and using overtime for as much as 20 percent of production—Ford’s plants and assembly lines were running at 100 percent of capacity and
Violet Blossom Technology develops and markets computer software for the agriculture industry. Since support costs comprise a large portion of the cost of software development, the director of cost
staff meeting has been called at Sports Lab, a drug-testing facility retained by several professional and university sport leagues and associations.The chief of testing, Dr. Levendis, has demanded an
On November 15, 2006, Sandra Pery, a newly hired cost analyst at Demgren Company, was asked to predict overhead costs for the company’s operations in 2007, when 500 units are expected to be
Elliott Bay Tarp and Tent (EBTT) Company has difficulty controlling its use of supplies. The company has traditionally regarded supplies as a purely variable cost. But nearly every time production
Liao, Inc., a manufacturer of fine china and stoneware, is troubled by fluctuations in productivity and wants to compute how much manufacturing support costs are related to the various sizes of
Martina Fernandez, the president of Fernandez Tool Co., has asked for information about the cost behaviour of manufacturing support costs. Specifically, she wants to know how much support cost is
Yuko Takase is a travelling inspector for Environment Canada. She uses her own car and the department reimburses her at $0.23 per kilometre. Yuko claims she needs $0.27 per kilometre just to break
Canadian Foods, Inc. produces food products under various brand names. In 2007, the company’s sales increased by 10 percent and its 2007 income statement showed the following (in millions):Suppose
Photography, Inc. produces and sells cameras, film, and other imaging products. A condensed 2006 income statement follows (in millions):Assume that $1,800 million of the cost of goods sold is a fixed
NLR Productions, Ltd., is promoting a rock concert in London. The bands will receive a flat fee of 8 million in cash. The concert will be shown worldwide on closed-circuit television. NLR will
Andy's Ale House, a pub located in a university community, serves as a gathering place for the university's more social scholars. Andy sells draft beer and all brands of bottled beer at a
Juanita Palencia, newly hired controller of Braxton Industries, had been lured away from a competitor to revitalize the controller's department. Her first day on the job proved to be an eye-opener.
Spot Ltd. produces three products, X, Y and Z in three production departments:Moulding (Dept. M), Assembly (Dept. A) and Finishing (Dept. F). It also has two service departments responsible for
A friend of yours is about to set up in business manufacturing and selling virtual reality jogging machines that will give users the perception that they are jogging through the countryside. The
Ontario PLC manufactures three products, X, Y and Z. The following table includes information relating to the manufacture of each productThe draft production overhead budget for next year contains
The Dreamwheel Cycle Company is considering manufacturing a new bicycle and has prepared the following estimates of cost and selling price:Fixed overheads have been estimated by the company and
An airline catering company produces three standard meal packs about which the following information is available for next year:For next year the production staff budget is £187,200 with a pay rate
The production manager of the company for which you are an assistant accountant has recently sent you the following memorandum:To: Assistant Accountant From: Production Manager Date: 1 September 2004
The company you work for has asked you to write an introductory section to its budget manual. Some managers have complained that they do not really understand the reasons for spending such
CZD Ltd supply records, tapes and CDs to retail outlets. You are presented with the following financial information and are required to complete the cash budget for the three months ending 31
The Amplifying Manufacturing Co Ltd issued £300,000 of share capital for cash on 1 January 2004, the date of its incorporation. In the following two weeks it raised an additional £50,000 by way of
Belt plc sells men’s and boy’s belts that are cut to order. Each foot or fraction thereof sells for £2. Small belts average 2 feet and large belts average 3 feet in length. The leather is
Trent PLC produces a single product. Currently, the company is attempting to improve the way it estimates its manufacturing overheads. The following information has been collected for the last 12
Extra Accessories produces a navigation system for motor vehicles. Its assembly department is largely mechanised and most of the costs of the department are produced by the two overhead support
Carveri Brown is a leading manufacturer of navigational fins. It currently adopts a subjective approach to classifying overheads into their fixed and variable elements for purposes of cost
Explain why a standard costing system may be less useful in the following manufacturing environments:(a) just-in-time manufacturing.(b) total quality management.
The use of incremental budgeting processes may lead to the carry-forward of inefficiencies in organisations. Examine the contribution of each of the following in improving efficiency in such
Drum Ltd. makes a single product, using a process involving stamping a circle out from sheet steel, covering it with hide and attaching it to a sidepiece.For 2004 the standard materials costs and
Great Lakes Co. is about to commence the final quarter of activity for the current financial year. The results for the first three quarters of the year have been as follows:Notes:(i) The variable
Omega PLC manufactures a product for which the standard cost data are as follows:The budget for the month of April was set at an output of 5000 units and a total cost of £235,000.The actual output
Trimtone Limited’ is a company that manufactures the Trimouse. At the start of the year the budgeted costs per unit of the Trimouse were as follows:The production manager has expressed concern that
Wrycooder Guitars is a manufacturer of one standard type of guitar. Its recent budgetary report for its assembly department for October 2004 is as follows:Indicate the weaknesses of the cost report
‘The necessity for constantly increasing efficiency is a basic fact of business life.Budgets are utilised as pressure devices for that purpose. But because of the effect of budgets on people, they
A new management accountant in your company has sent to managers of the company the following memorandum:To: Production Plant Managers From: P. Richards, Management Accountant Subject: Management
The production manager at Breaklack has been called to an urgent meeting by the managing director to discuss his annual performance-related bonus payment.He has been unhappy in his job for some time,
Discuss the key factors that would be considered in determining whether a cost variance should be investigated.
Examine the interrelationships of budgeting, creativity and culture and discuss the implications of such interrelationships for management control systems.
Contingency theory has played a significant role in the management accounting literature of the past two decades. Critically examine the role of contingency theory in contemporary management
Various writers have commented upon the prerequisites for control, that is, the conditions and control system features that must be in place before effective control may take place. Identify and
Discuss the interrelationships between principal–agent theory and performance measurement systems within multinational corporations.
Critically compare the interpretations of management accounting history of the ‘relevance lost’ and ‘traditional/classical’ schools of thought, commenting on the implications of such
The theory of constraints as described by Eliyah Goldratt, has generated some interest in management accounting circles in recent years. Critically examine the conceptual basis of the theory of
The focus of management accounting research has moved, in recent years, away from a prescriptive/normative mode towards more prescriptive/analytical approaches.Identify the factors influencing this
Preston (1995) suggests that relationships exist between budgeting, creativity and culture. Examine the influence of budgetary processes and styles on creativity within an organisation and explain
‘The management accountant’s role is that of a servant of managers, assisting them by supplying appropriate information. Management accountants thus have little need to consider ethical or
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