Reference no: EM132446689

Questions -

Q1) What is the difference between a cost center and a profit center? Give an answer that demonstrates what critical element distinguishes the profit center from the cost center.

Q2) Describe the difference between a centralized and a decentralized management style.

Q3) What is the difference between traceable costs and common costs?

Q4) What are the four segments of a traditional balanced scorecard?

Q5) Annapolis Company completes job #601 which has a standard of 520 labor hours at a standard rate of $18.70 per hour. The job was completed in 630 hours and the average actual labor rate was $18.80 per hour. What is the labor rate variance? A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.

Q6) Annapolis Company completes job #601 which has a standard of 650 labor hours at a standard rate of $18.40 per hour. The job was completed in 510 hours and the average actual labor rate was $19.80 per hour. What is the labor efficiency (quantity) variance? A negative number indicates an favorable variance and a positive number indicates an unfavorable variance.