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Performance Management. Standard Costing. Short Run Decisions. Pricing. Quality. 1 Homework point. 1 Homework point. 1 Homework point. 1 Homework point. 1 Homework point. 1 Quiz point. 1 Quiz point. 1 Quiz point. 1 Quiz point. 1 Quiz point. 1 Exam point. 1 Exam point.
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Performance Management StandardCosting Short RunDecisions Pricing Quality 1 Homeworkpoint 1 Homeworkpoint 1 Homeworkpoint 1 Homeworkpoint 1 Homeworkpoint 1 Quizpoint 1 Quizpoint 1 Quizpoint 1 Quizpoint 1 Quizpoint 1 Exam point 1 Exampoint 1 Exampoint 1 Exampoint 1 Exampoint Candy Candy Candy Candy Candy Homework Pass HomeworkPass HomeworkPass HomeworkPass HomeworkPass
Internal Business Processes Learning and Growth Customer Financial
Used to determine what improvements will make an organization more profitable.
Performance evaluated based on master budget and non financial performance measures.
A company performance measure was $280 based on total sales of $4,000; operating income of $1,000; beginning assets invested of $6,000; ending assets invested of $12,000; and a desired ROI of 8%.
An evaluation tool used for direct materials, direct labor, and overhead.
Direct material price variance plus Direct material quantity variance.
Standard costing is used to evaluate this type of performance center.
The objective of this decision is to select the alternative that maximizes operating income.
A company makes pencils. The space currently devoted to the production of pencils could be used for storage if the manufacture of pencils is outsourced. This would eliminate $40,000 of rental expense currently incurred for storage space. The $40,000 is an example of this cost.
Accepting a special order will be profitable when the revenue provided by the special order exceeds this cost.
What are the relevant costs to produce, package, and ship the special order?
A useful short run decision in areas that involve either relatively low skill levels or highly specialized knowledge.
A pricing method that reduces costs before they are incurred.
Competitors’ prices, customer expectations, and cost of substitute products and services are all considerations when developing this type of price.
Determined by adding total production costs of the product to the total production costs times the gross margin markup percentage.
The time between the acceptance of a customer order and when production begins.
Loss of potential orders due to poor quality is an example of this quality cost.
If a company devotes time and money to the cost of a product or service’s conformance to customer standards, a decrease in these quality costs will occur.