Questions and Answers of Cost Management Strategic

What is the strategic role of a costing system?
Norton Industries, a manufacturer of cable for the heavy construction industry, closes its books and prepares financial statements at the end of each month. The statement of cost of goods sold for
Consider the following information for Fair Wind Yachts Inc., a manufacturer of sailboat rigging, blocks, and cordage.Advertising expenses.........................................................$
Consider the following information for Huntersville Inc. for the fiscal year ended December 31.Depreciation expense—administrative office.....................$ 32,000Depreciation expense—plant
Direct labor costs area. Nonmanufacturing costs.b. Period costs.c. Conversion costs.d. Overhead costs.
Which of the following statements is incorrect regarding manufacturing overhead?a. Manufacturing overhead is an indirect costs to units or products.b. Manufacturing overhead includes both fixed and
Which of the following is true regarding period and product costs?a. Factory lease is a period cost, and sales commissions are a product cost.b. Factory lease is a product cost, and sales commissions
Which of the following costs would be included in manufacturing overhead for a computer manufacturer?a. The cost of the USB port hardwareb. The wages paid to hardware assemblersc. The cost of the
Choose the correct option for the following questionDirect materials are Manufacturing Cost Prime Cost Conversion Cost Yes Yes Yes No Yes No Yes No No No a. b. C. Yes No d.
The great news for those concerned about climate change and sustainability is that the cost of renewable energy (“green power”) is quickly decreasing. The result is that many companies,
The trend of economic nationalism (e.g., Brexit) that is affecting many countries around the world promotes keeping manufacturing jobs in the local country. As management accountants, we are
McDonald’s is a global fast-food chain with 36,889 restaurants worldwide and global sales of $95 billion in 2016. McDonald’s is one of the most successful companies, with stock values increasing
The trend of economic nationalism (e.g., Brexit) that is affecting many countries around the world promotes keeping manufacturing jobs in the local country. As management accountants, we are
Develop a balanced scorecard with three or more groups of CSFs for Fowler’s Farm based on Problem 2-47. Explain your choice of groups and identify four to five CSFs in each group. Make sure that
Develop a SWOT analysis for Fowler’s Farm based on Problem 2-47. The analysis should include two to three items in each category: strengths, weaknesses, opportunities, and threats.In ProblemJoel
Joel Deaine, CEO of Deaine Enterprises Inc. (DEI), is considering a special offer to manufacture a new line of women’s clothing for a large department store chain. DEI has specialized in designer
Which of the following is an important method for implementing strategy?a. Sustainabilityb. Value-chain analysisc. Cost leadershipd. Differentiation
The World Resources Institute (WRI) is an organization thata. Provides guidance for developing and benchmarking an organization’s value chain.b. Provides resources for organizations that intend to
The required resources for implementing a cost leadership strategy include which of the following?a. Strong marketing capabilityb. Substantial capital investment and access to capitalc. Effective
As opposed to identifying opportunities and threats, identifying a company’s strengths and weaknesses in SWOT analysis can involve all but which of the following?a. Careful analysis of the
Which of the following statements about the value chain is correct?a. The two phases of the activities of the value chain are the upstream activities and the downstream activities.b. A company need
Opportunities and threats in strengths-weaknesses-opportunities-threats (SWOT) analysis can be identified most readily bya. Using value-chain analysis.b. Analyzing the industry and the
What does it mean for the balanced scorecard to “reflect strategy”?a. One should be able to infer an organization’s strategy from the balanced scorecard.b. The management accountant develops
The implementation of the balanced scorecard (BSC) can involve all of the following excepta. The strong support of top management.b. A strategy of differentiation (as opposed to one of cost
A company taking a strategic and customer-centered point of view can best address sustainability, a concern for environmental and social as well as economic performance, througha. Annual financial
The balanced scorecard is related to the strategy map in a way similar to howa. The value chain is related to product differentiation.b. SWOT analysis is related to execution.c. The organization’s
The following strategy implementation technique can be particularly enhanced by using benchmarking, as for example, participating in the Malcolm Baldrige National Quality Award program:a. The value
Consider Question 2-22 again. How would your answer differ if the firm were a manufacturer?In QuestionSuppose you are the CEO of a large firm in a service business and you think that by acquiring a
In 1992, the U.S., Mexico, and Canada agreed to enhance trade between the three countries in what is called the North American Free Trade Agreement (NAFTA). The agreement removed tariffs between the
The European Union (EU) is made up of 28 European countries that are bound together by trade and political agreements. The broad goal of the EU is to create an economic and political union that will
The Ethisphere Institute (http://ethisphere.com), an organization focused on defining and advancing corporate ethical standards and practices, prepares an annual report which selects the most ethical
Occupational fraud is defined by the Association of Certified Fraud Examiners (ACFE) as “the use of one’s occupation for personal enrichment through the deliberate misuse or misapplication of the
The pharmaceutical manufacturer Valeant had a business model of cost-cutting, minimizing expenditures on research and delaying clinical trials. The model succeeded, as Valeant became one of the
In its ranking of firms on the basis of customer service, global marketing information firms such as J.D. Power and media companies such as Forbes magazine and USA Today conduct independent surveys
Each year, Interbrand (a corporate strategy consultant) reports the 100 top brands in the world. The leading brands are determined from a calculation based on an analysis to determine what portion of
Jane Englehard is a feature writer for National Business Weekly. Her assignment is to develop a feature article on enterprise risk management. Her editor has asked her to research the available
The Yee-Haw Pickle Company in Park City, Utah, has grown in four years to supply 600 retailers nationally. The products include pickles and pickled green beans. Yee-Haw’s products are unique for
Professional certifications are issued by the American Institute of Certified Public Accountants (AICPA), the Institute of Management Accountants (IMA), the Chartered Institute of Management
Cost management has evolved from a focus on measurement to one of identifying those measures that are critical to the organization’s success. Given this new focus, indicate which one of the
Walmart, Costco, and Dollar General are retailers that probably compete on the basis ofa. Quality and customer service.b. Product differentiation.c. Low prices.d. Desirable locations.
The management accountants in an organization probably report directly to thea. Controller.b. Treasurer.c. Chief executive officer (CEO).d. Chief financial officer (CFO).
Management accounting, as defined by the IMA, uses the expertise of the management accountant toa. Improve quality and reduce manufacturing cost.b. Implement an organization’s strategy.c. Implement
Which of the following is the correct sequence in which cost management information is developed and used?a. Business events, data, information, analysis, decisionsb. Business events, data, analysis,
The management accountant is a full business partner with management in which of the four stages of cost system development, and why?
Many firms rely on the internet extensively. Explain how firms using cost leadership and firms using differentiation might use the internet.
Give three examples of firms you believe would require somewhat unique types of cost management information because of their unique competitive strategy, and explain why.

Showing 200 - 300 of 246

1
2
3