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Managerial Accounting DQ
Budgeting Comments
Select one of the following quotes from the text to discuss. Clearly state whether you either agree or disagree with the comment and support your opinion with at least one scholarly resource. Include in your response an explanation of the major purposes of budgeting. Your initial post should be 200-250 words.
• "One major criticism of budgeting is that it is used as a ‘cost reduction' tool rather than a ‘cost control' tool. The objective of the budget is to control costs at an efficient level of operation."
• "There are generally three benefits from allowing employees to participate in developing the budget: (1) Employees tend to accept the budget as their own plan of action. (2) Participation tends to increase morale among employees and toward management. (3) Employee cohesiveness is increased, and productivity will also increase if dictated by the group norm."
• "Even though budgets are quantitative tools, considerable emotion is connected to budgeting. The individual in control often sees the budget as a means of getting things done. People being controlled often have feelings of anxiety because their success and promotion are tied directly to the budget."Standard Cost System
Define a standard cost and explain what constitutes the components of a standard cost. Describe the advantages and disadvantages of a standard cost system and explain under what circumstances a standard cost system is most effective. Your initial post should be 200-250 words.
Go to the Web site for investor relations Alaska Air Group and find the company's consolidated financial statements for 2008 under financial reports.
a. Direct material is added at the beginning of the production process, and conversion activity occurs uniformly throughout the process.b. The company uses weighted-average process costing.c. The July 1 work in process was 30 percent complete as to c..
The following information was drawn from the year end balance sheets of Long's Wholesale, Inc.:
Pacheco, Inc., manufactures two products, overs and unders, in single process. The joint costs of this process were $50,000, and 14,000 units of overs and 36,000 units of unders were produced.
Prepare a report outlining any issues that may be working against effective performance measurement and incentive systems in the business units.
ACC202 MANAGEMENT ACCOUNTING - Determine when the new blood pressure monitor BM201 should be introduced based on financial considerations and Prepare Budgeted Income Statements for the two alternatives
What advice would you give such a company to help them take advantage of the benefits a job analysis has to offer without wasting unnecessary time and resources doing a traditional job analysis?
Retailing can be a tough business. Many stores posted slumps in recent holiday sales, some announced layoffs, and others filed for bankruptcy. Amazon, however, continues to report revenue growth and has expanded into new product areas such as digital..
Journalize the withdrawal of Carl if the partnership agrees to pay Carl $200,000 cash - journalize the withdrawal of Carl if the partnership agrees to pay Carl $140,000 cash.
Using the following information from an annual report, prepare a vertical analysis of the consolidated balance sheet at June 30, 20x5. (Round percentage answers to one decimal place.)
Why is variable costing not allowed for financial reporting purposes?
In order to maximize weekly profits, how many pounds of each ingredient should be purchased - How much should Snoo be willing to pay for an additional pound of ingredient C to raise total profit?
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