Question 1in order to assist the manager you are compiling

Assignment Help Managerial Accounting

Reference no: EM13376922

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.

1917_Calculate the total simulated hours.png

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?

Reference no: EM13376922

Questions Cloud

Case study questionread headline health rates as top social : case study questionread headline health rates as top social issue. would you expect management to worry about

MoviesPlus Inc is in its third year of business : MoviesPlus, Inc. is in its third year of business. The company offers DVD rental to online customers for a fixed monthly fee.

In your answer you should include but not necessarily be : in your answer you should include but not necessarily be limited to the followingi a brief statementin your own wordsof

Questionon the third day in your role as accountant the : questionon the third day in your role as accountant the general manager has asked you to review the results of 2012 and

Question 1in order to assist the manager you are compiling : question 1in order to assist the manager you are compiling a resource which will define the various management

Consider the questions below and how your understanding of : consider the questions below and how your understanding of these will benefit your analysis application and

Problem 1 - snyders of hanoverreplace the last sentence : problem 1 - snyders of hanoverreplace the last sentence assess the impact of this situation on business performance and

Bullreview financial statements for two years bullmake a : bullreview financial statements for two years. bullmake a comparison of the following items and note

Stiglers lsquoprivate interest theory proposes that : stiglers lsquoprivate interest theory proposes that regulatory bodies including accounting standard setters are made up

User Account

All Pages