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Question 1
In order to assist the manager you are compiling a resource which will define the various management accounting terms used in the process of strategic analysis. Provide an explanation of the following terms, with examples specifically relating to Boutique Catering, to include in a resource file which incorporates a reason why each concept is relevant or not relevant to decision-making:
Satisficing model Simulation Opportunity Cost Sunk cost Break-even point
Question 2
It's your second day with Boutique Catering and the general manager has received a report summarising client complaints which she would like you to investigate. There is a consistent theme of clients being unhappy with the service time when receiving their meals. The general manager would like you to establish if additional staff should be employed to improve the service time. Meals are served in a general area and often the clients will stand around talking before placing an order. The following pattern records customer arrivals and the time it takes for the clients to receive their meals.
a) Using the random number function in excel simulate the arrival of 25 customers
b) Calculate the total simulated hours, total waiting time for the customer service team member, and the total wait time for the customer?
c) Do you think that enough simulations have been completed to report an outcome to the general manager, explain your answer?
Pick a costing method: process, job, or activity based. Explain the nature of your chosen method. What types of organizations should choose that method?
George Ltd manufactures two types of coils used in electric motors. The two types are: C20 and D40. They both require plastic and metal
For August, Busters Consulting and Mediation Practice(BCMP) worked 900 hours for Quebec company and 2,100 hours for Ontario Corporation. BCMP bills clients at rate of $300 per hour
Total yards used for production were 3,960. How much is the total materials variance and evaluate annual rate of return expected on this machine
What is the significance to working capital management of matching sales and production? What is the significance to working capital management of matching payables with receivables?
What is a rolling budget? Why are they prepared? Describe why some types of companies would employ a rolling budget instead of a master budget.
Consider your professional experiences as well as your review of the Required and/or Optional Resources and determine what type of variances might be the most alarming to see. What type of inventory control considerations do you think are occurring..
Calculate the unknowns for the following independent situations. All given activity levels are within the relevant range.
Toni is relying on financial feedback, and the product costing method adopted by the large bakery. What are the strengths and weaknesses of these approaches?
Midlands Design Ltd. of Manchester, England, is a company specializing in providing design services to residential developers. Compute the company's residual income for the year. (Omit the "£" sign in your response.)
The payroll bank account is reconciled by the chief accountant, who also prepares the several quarterly and annual tax reports.
Management accounting formats are identical for all companies
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