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Scott, MIT Graduate
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1. The five stages in the process of keeping an organization

Customer Question

Can any one help!!!!! I have 30mins left

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Neo these are the questions

The five stages in the process of keeping an organization in control are: (Points: 2)
planning, implementing, measuring, evaluating and correcting
planning, executing, monitoring, evaluating and correcting
budgeting, implementing, monitoring, evaluation and feedback
budgeting, executing, measuring, feedback and evaluation


2.

After conducting a market research study, Schultz Manufacturing decided to produce a new interior door to complement its exterior door line. It is estimated that the new interior door can be sold at a target price of $60. The annual target sales volume for interior doors is 20,000. Schultz has a 20% expected return on sales target.


What are target sales revenues? (Points: 2)
$960,000
$2,000,000
$1,200,000
None of the above is correct.


3. Successful implementation of the Balanced Scorecard: (Points: 2)
may be completed by one important member of the senior management team, such as the chief financial officer
involves everyone in the organization knowing and understanding the strategy
should not begin until data are collected for all scorecard measures
starts with a process to acquire a new data collection system


4. The characteristic of a management accounting and control system that means the language used and the technical methods applied do not conflict within various parts of the organization is referred to as being: (Points: 2)
in control
accurate
consistent
Kaizen


5. Facilities layout and just-in-time manufacturing help reduce costs incurred during the: (Points: 2)
research, development, and engineering cycle
manufacturing cycle
post-sale service and disposal cycle
operating cycle


6. One goal of ________ is to design costs out of products in the research, development, and engineering stage. (Points: 2)
cost-plus pricing
target costing
Kaizen costing
traditional costing


7. ________ starts with estimated product costs and next determines the estimated selling price. (Points: 2)
Standard costing
Target costing
Kaizen costing
Traditional costing


8. ________ starts with estimated product costs and next adds the expected profit margin. (Points: 2)
Cost-plus pricing
Target costing
Kaizen costing
Standard costing


9. Target costing differs from traditional costing in all of the following ways EXCEPT: (Points: 2)
target costing collects market research continually throughout the target costing process rather than as a single event
target costing uses the total-life-cycle concept to minimize ownership costs
traditional costing spends less time on product specification and design
traditional costing uses cross-functional teams to guide the process


10. Use the information below to answer the following question(s).
After conducting a market research study, Schultz Manufacturing decided to produce a new interior door to complement its exterior door line. It is estimated that the new interior door can be sold at a target price of $60. The annual target sales volume for interior doors is 20,000. Schultz has a 20% expected return on sales target.
What are target sales revenues? (Points: 2)
$960,000
$2,000,000
$1,200,000
None of these is correct.


11. All of the following are associated with Kaizen costing EXCEPT: (Points: 2)
target reduction rate
supply-chain management
cost reductions during manufacturing
small monthly cost reductions


12. Benchmarking partners: (Points: 2)
have to be of equal size
are most likely to be industry leaders
have to be within the same industry
have to trust each other


13. Which of the following statements is NOT true of the Balanced Scorecard? (Points: 2)
Different strategies call for different scorecards.
Successful implementation requires commitment and leadership from top management.
Only objective financial measures should be used, and subjective nonfinancial measures should be avoided.
Cause-and-effect linkages may not be precise and should evolve over time.


14. Use the information below to answer the following question(s).
Stewart Corporation plans to grow by offering a sound system, the SS3000, which is superior and unique from the competition. Stewart believes that putting additional resources into R&D and staying ahead of the competition with technological innovations is critical to implementing its strategy.
Stewart's value proposition is: (Points: 2)
product innovation and leadership
best total cost
complete customer solutions
employees recognizing customer needs


15. ________ establish the level of performance or rate of improvement required for a measure. (Points: 2)
Critical success factors
The value proposition
The Balanced Scorecard
Targets


16. Identify the BEST description of the Balanced Scorecard's internal perspective. To achieve our firm's vision and strategy: (Points: 2)
How do we lower costs?
How do we motivate employees?
How can we obtain greater profits?
What must we excel at to satisfy our customers and shareholders?


17. All of the following questions relate to the Balanced Scorecard's learning and growth perspective EXCEPT: (Points: 2)
How do we achieve greater employee satisfaction?
How do we increase profits and return on capital?
How do we provide information systems with updated technology?
How will we sustain our ability to change and improve?


18. Manufacturing cycle efficiency is an example of a Balanced Scorecard measure of the: (Points: 2)
internal perspective
customer perspective
learning and growth perspective
financial perspective


19. Key performance indicator cards: (Points: 2)
lead to local but not global or strategic improvements
include only financial measures
are organized into ten perspectives
measure only a single Balanced Scorecard perspective


20. To become a strategy-focused organization: (Points: 2)
monthly management meetings should focus on variances between performance and what was planned
the budgeting process must protect long-term initiatives from the pressures to deliver short-term performance
scorecards and priorities should be updated annually when preparing next year's budget
All of these are correct.

Submitted: 7 years ago.
Category: Homework

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