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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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  1. 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

  2. Goals link to performance objectives that link to measures that link to targets.

  3. What is a balanced scorecard?

  4. Performance evaluated based on flexible budgets.

  5. What is a cost center?

  6. Investment centerCost centerProfit centerRevenue centerDiscretionary cost center

  7. What is a responsibility center?

  8. Performance evaluated based on EVA, RI, and ROI.

  9. What is an Investment center?

  10. A company performance measure was 11.11 percent 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%.

  11. What is the company’s ROI?

  12. The purpose of this performance evaluation method is to control cost.

  13. What is standard costing?

  14. Both job order costing and process costing can use this performance evaluation method.

  15. What is standard costing?

  16. One type of budget is based on one specific level of output, whereas the other type of budget can be prepared for various levels of output.

  17. What is the difference between a static budget and a flexible budget?

  18. A variance that would be calculated in a manufacturing organization but not in a service organization.

  19. What is a material variance?

  20. The distinctive element of a flexible budget.

  21. What is the flexible budget formula (A@S@S)?

  22. Decisions whose effects will be felt over the course of the next year.

  23. What is a short run decision?

  24. A cost that changes between alternatives.

  25. What is a differential cost?

  26. Payroll and IT are a strong candidates for this action.

  27. What is outsourcing?

  28. If a segment has a negative segment margin, management should take this action.

  29. When should a segment be eliminated?

  30. This short run decision is based on the contribution margin per limited resource.

  31. What is a sales mix decision?

  32. Computed by subtracting the desired profit from the target price.

  33. What is target cost?

  34. A pricing method used by automobile repair businesses.

  35. What is the time and materials pricing method?

  36. This method’s objective is to earn a profit equal to a specified rate of return on assets.

  37. What is the return on assets pricing method’s objective?

  38. An example of a pricing policy objective.

  39. What is maintain or gain market share?

  40. Establishes the price at which goods and services are exchanged among a company’s divisions or segments.

  41. What is transfer pricing?

  42. Prevention costs and appraisal costs.

  43. What are conformance costs?

  44. Costs incurred after the delivery of a defective product or service.

  45. What are external failure costs?

  46. Costs of activities that measure, evaluate, or audit products, processes, or services to ensure conformity to quality standards.

  47. What are appraisal costs?

  48. Defective parts per million (by product line).

  49. What is an example of a nonfinancial measure of quality?

  50. The time between acceptance of a customer’s order and final delivery of the product to a customer.

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