Question: What is a responsibility center? What are the three types of responsibility centers?

What is a responsibility center? What are the three types of responsibility centers?

Step by Step Solution

★★★★★

3.38 Rating (176 Votes )

There are 3 Steps involved in it

1 Expert Approved Answer

Step: 1 Unlock

RESPONSIBILITY CENTER A responsibility center is a functional entity within a business organisation It has its own well defined goals and objectives policies and procedures to follow on man power and ... View full answer

Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock

Step: 3 Unlock

Document Format (1 attachment)

229-B-M-A-B-P-C (757).docx

120 KBs Word File

Students Have Also Explored These Related Managerial Accounting Questions!

What are the three types of responsibility centers? Explain how each differs from the others.

What are the three types of comparisons that can be made when conducting ratio analyses?

What are the three types of fraud against organizations that employees, vendors, and customers use to steal an organizations assets?

Three cousins, Harry, Dan and Sarah, are owners of a small business recently inherited from their fathers. They are not convinced that the results controls implemented by their fathers have been...

number 1 and 3 chapter 24 ASSESS YOUR PROGRESS > Review Questions 1. Why are direct materials and direct labor asigned to produce 2. Why are manufacturing overhead costs allocated 3. Briefly define...

Write substantive post in response to one of the Chapter 10 Practice Questions on page 468 of the ebook/textbook.Be sure to write which each Chapter 10 Questions responding at. Pape 468 PRACTICE...

1. Determine the following information using absorption costing and variable costing: Absorption costing a. Manufacturing cost _______________ b. Per-unit cost _______________ c. Cost of ending...

Name and describe three types of responsibility centers and list their main characteristics. Give five real-world examples of at least two of the types of responsibility centers.

Compare and contrast the three types of responsibility centers. What is the best way to evaluate a manager's performance in each type of center? What is the problem with using only financial measures...

* Original work only * short answers Compare and contrast the three types of responsibility centers. What is the best way to evaluate a manager's performance in each type of center? What is the...

A box feature in the chapter talks about watches that smile at you. Using the perceptual process, explain how a smiling product might lead to a more favorable reaction. Do you think that a smiling...

Jim's preferences over cookies (x) and other goods (y) are given by U(x, y) = xy with associated marginal utility functions MUx = y. and MUy = x. His income is $20. a) Find Jim's demand schedule for...

"Jani used to cost around $ 8 7 . Now she's around $ 1 1 6 , as costs went up on every step of her journey." What was the percentage increase in Jani's cost? Group of answer choices 2 9 % 1 3 . 3 % 2...

Explain the relationship between the doctrine of privity and the rule that consideration must move from the promisee.

Sharp Motor Company has two operating divisionsan Auto Division and a Truck Division. The company has a cafeteria that serves the employees of both divisions. The costs of operating the cafeteria are...

In what way can the use of ROI as a performance measure for investment centers lead to bad decisions? How does the residual income approach overcome this problem?

Mills Mining is considering the purchase of additional equipment. The proposed project has the following features: The equipment has an invoice price of $390,000 and will cost $40,000 to modify for...

Tami Tyler opened Tami's Creations, Inc., a small manufacturing company, at the beginning of the year. Getting the company through its first quarter of operations placed a considerable strain on Ms....

Erosion costs. Fat Tire Bicycle Company currently sells 40,000 bicycles per year. The current bike is a standard balloon-tire bike selling for $110, with a production and shipping cost of $30. The...