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horngrens cost accounting a managerial emphasis

Questions and Answers of Horngrens Cost Accounting A Managerial Emphasis

Define planning. Distinguish it from control. lop2
“Planning is really much more vital than control.” Do you agree? Why? lop2
“We need to record replacement costs because they are more accurate approximations of economic reality.” How would an advocate of cost-benefit analysis react to this statement? lop2
“The controller is both a line and a staff executive.” Do you agree? Why? lop2
“The modern concept of controllership maintains that the controller does control in a special sense.” Explain. lop2
What are some common causes of friction between line and staff executives? lop2
How is cost accounting related to the concept of controllership? lop2
Distinguish among line, staff, and functional authorities. lop2
Role of the Accountant in the Organization: Line and Staff Functions 1. Of the following, who have line authority over a cost-record clerk: budgetary accountant; head of accounting for current
Scorekeeping, Attention Directing, and Problem Solving For each of the follow- ing, identify the function the accountant is performing: i.e., scorekeeping, attention directing, or problem solving.
Draw an Organization Chart Draw an organization chart for a company that has the following positions:x Ed 2 SIP Vice-president, controller and treasurer Foundry superintendent Chief designer Head of
Responsibility for Analysis of Performance John Phillipson is the new controller of a huge company that has just overhauled its organization structure.The company is now decentralized. Each division
Accountant's Role in Planning and Control Dick Victor has been president of Sampson Company, a multidivision textile company, for ten months. The company has an industry reputation as being
Organization of Accounting Department: Centralization or Decentralization’ The following quotation is from an address made by an officer of the Ford Motor Company:We can all, I think, take pride in
Scorekeeping, Attention Directing, and Problem Solving Internal (management) accounting tends to emphasize the attention-directing and problemsolving functions of accounting. However, there are many
Preview of Coming Attractions David Colhane, an able electrical engineer, was informed that he was going to be promoted to assistant factory manager.David was elated but uneasy. In particular, his
Evolution of Accounting Systems You recently opened a bicycle repair shop, using the family garage as your place of business._ You are self-employed. You buy parts for cash and render service for
Value of Information You own a shop that sells and services bicycles. Your partner wants your approval for adding a line of bicycles that will retail for $100.Will you add the line? What data would
Give two examples of financial performance measures and two examples of nonfinancial performance measures.LO1
What are the six steps in designing an accounting-based performance measure?LO1
What factors affecting ROI does the DuPont method highlight?LO1
"Residual income is not identical to ROI although both measures incorporate income and investment into their computations." Do you agree? Explain.LO1
Describe economic value added.LO1
Give three definitions of investment used in practice when computing ROI.LO1
Distinguish between measuring assets based on present value, current cost, and historical cost.LO1
What special problems arise when evaluating performance in multinational companies?LO1
Why is it important to distinguish between the performance of a manager and the performance of the organization subunit for which the manager is responsible? Give examples.LO1
Describe moral hazard.LO1
Explain the management accountant's role in helping organizations design stronger incentive systems for their employees.LO1
Explain the role of benchmarking in evaluating managers.LO1
Explain the incentive problems that can arise when employees have to perform multiple tasks as part of their jobs.LO1
List four components of executive compensation plans.LO1
Describe each of the levers of control and their interrelation with strategy.LO1
Return on investment; comparisons of three companies. (CMA, adapted) Return on investment is often expressed as follows:REQUIRED 1. What advantages are there in the breakdown of the computation into
Analysis of return on invested assets, comparison of three divisions. Easy Paints Inc. is a manufacturer of paints. It has three divisions: indoor paints, outdoor paints, and special purpose paints.
ROI and RI. (D. Kleespie) Speed Logistics provides transportation services to a wide variety of companies in southern Ontario. One of its divisions, the Concord Division, offers the service to pick
Pricing and return on investment. Orilla Exhaust Systems Co. produces exhaust systems for SUVs that are assembled in vehicles manufactured by various customers in several car assem- bly plants
Goal incongruence and ROI. Bleefl Corporation manufactures furniture in several divi- sions, including the Patio Furniture division. The manager of the Patio Furniture division plans to retire in two
ROI, RI, EVA®. (D. Solomons, adapted) Agile Transportation has two divisions which are @treated as profit centres. Consider the following data for the two divisions:REQUIRED 1. Calculate the return
RI, EVA. Toys for All is a small company that manufactures old-fashioned, high-quality toys in two divisions: wood and metal. Results reported for the last year are as follows:REQUIRED I. Calculate
ROI, RI, measurement of assets. (CMA, adapted) Carter Corporation recently announced a bonus plan to be awarded to the manager of the most profitable division. The three division managers are to
ROI, RI, measurement of assets. Direct Sales Corporation is analyzing the implementa- tion of a bonus plan for its direct salespersons. Currently each salesperson has a target of net income of
Various measures of profitability. As a way to incentcompetition between divisions, the president of Industrial Products told the division managers that a quarterly bonus would be paid only to the
ROI, RI, measurement of assets. (CMA, adapted) Leeds Corporation recently announced a bonus plan to be awarded to the manager of the most profitable division. The three division managers are to
Multinational performance measurement, ROI, RI. The Grandlund Corporation manu- factures similar products in Canada and Norway. The Canadian and Norwegian operations are organized as decentralized
Multinational performance measurement, ROI, RI. Fabulous Skin has been manufactur-2. Charter Division bonuses:June, $0; December, $6,600 ing sun lotions for six decades and currently has a very solid
Financial and nonfinancial performance measures, goal-congruence. (CMA, adapted) Summit Equipment specializes in the manufacture of medical equipment, a field that has become increasingly
Financial and nonfinancial performance measures, goal-congruence. (CMA, adapted) Leader Automotive Canada is a Tier 1 supplier in the automotive industry (direct supplier to car assemblies), an
Financial performance measures with uncertainty. (CMA, adapted) The following fore- cast variable costing income statement was prepared for Electric Machines Ltd. for the year ending April 2012:year
Nonfinancial performance and levers of control. (CMA, adapted). Light Seating Canada produces recliners, the device inside car seats that allows the seats to recline to a position comfortable to the
Evaluating managers, ROI, value-chain analysis of cost structure. Integrated Automatic @Solutions is one of the largest and most successful companies that design, implement, and 1.F lexible Systems
ROI, RI, ROS, management incentives. (CMA, adapted) Soft Drinks Inc. is a company ©organized in several business units, each one dedicated to a particular type or flavour of soft drinks. The Ginger
Historical-cost and current-cost ROI measures. World of 1 Dollar Ltd. owns and manages three convenience stores. The following information has been collected for the year 2010:REQUIRED 1. Compute the
ROI performance measures based on historical cost and current cost. Nature's Elixir Cor- poration operates three divisions that process and bottle natural fruit juices. The historical-cost accounting
Relevant costs, performance evaluation, goal-congruence. Soccer Fifa Inc. has three operat- ing divisions. The managers of these divisions are evaluated on their divisional operating income, a figure
ROI, RI, and multinational firms. Konekopf Corporation has a division in Canada and another in France. The investment in the French assets was made when the exchange rate was $1.20 per euro. The
Multinational firms, differing risk, comparison of profit, ROI, and RI. Zzwuig Multina- tional Inc. has divisions in Canada, Germany, and New Zealand. The Canadian division is the oldest and most
Multinational firms, comparison of profit, ROI, RI, and EVA. Kase Tractor Company, a multinational company, allows its divisions to operate as autonomous units. In the year 2008 it established a
Risk-sharing, incentives, benchmarking, multiple tasks. Acme Inc. is a diversified multi- divisional corporation. One of its business units manufactures and sells industrial pumps. Acme's corporate
Executive performance measurement and compensation. The Vaughan Speed ‘Taxi company is a young company that operates a fleet of six taxis in the Greater ‘Toronto Area. The owner relies on the
Governance, levers of control. (R. Madison, adapted, Strategic Finance, January 2000). United Forest Products (UFP) is a large timber and wood processing plant. UFP's performance- evaluation system
Division manager's compensation, risk sharing, incentives (continuation of 24-30). The management of Summit Equipment is having problems implementing a complex bonus scheme and was forced to award
Governance, manager's performance evaluation. (A. Spero, adapted) Schomberg Milk Products manufactures and sells organic Balkanic-style yogurt. Each box of 48 yogurts is sold for $30. Schomberg's
ROI, RI division manager’s compensation, nonfinancial measures. In 2010 the Mandarin QOeo Division of Key Products Corporation generated an operating income of $3,000,000 from ggg. j5%$20,000,000
ROI, RI, division manager’s compensation, nonfinancial measures. (CGA, adapted) General Appliance (GA) builds coffeemakers and battery-powered small tools. For a long time, GA held a reputation for
Evaluate the CoCo framework in the context of existing legislation and professional accounting standards LO1
Apply transfer pricing processes LO1
Assess the market-based transfer price method LO1
Apply relevant costs and tax considerations to evaluate the selection of cost-based and negotiated transfer prices LO1
Analyze income tax considerations in multinational transfer pricing LO1
What is a management control system?LO1
Describe three criteria you would use to evaluate whether a management control system is effective.LO1
What is the relationship among motivation, goal-congruence, and effort?LO1
Name three benefits and two costs of decentralization.LO1
“Organizations typically adopt a consistent decentralization or centralization philosophy across all their business functions.” Do you agree? Explain.LO1
“Transfer pricing is confined to profit centres.” Do you agree? Why?LO1
Whatare the three general methods for determining transfer prices?LO1
What properties should transfer pricing systems have?LO1
“All transfer pricing methods give the same division operating income.” Do you agree? Explain.LO1
Under what conditions is a market-based transfer price optimal?LO1
What is one potential limitation of full-cost-based transfer prices?LO1
Give two reasons why a dual-price approach to transfer pricing is not widely used.LO1
“Cost and price information play no role in negotiated transfer prices.” Do you agree? Explain.LO1
“Under the general transfer pricing guideline, the minimum transfer price will vary depending on whether or not the supplying division has idle capacity.” Do you agree? Explain.LO1
Why should managers consider income tax issues when choosing a transfer pricing method?LO1
Decentralization, responsibility centres. Corporate Express manufactures and sells stationery products. Corporate Express’s sales and marketing divisions are organized by customer
Decentralization, goal-congruence, responsibility centres. Toronto Appliances Corpo- ration (TAC) is an integrated manufacturer of several types of home appliances. TAC has a decentralized,
Cost centres, profit centres, decentralization, transfer prices. Fenster Corporation man- ufactures windows with wood and metal frames. Fenster has three departments: Glass, Wood, and Metal. The
Effect of alternative transfer pricing methods on division operating income. (CMA, adapted) Liuanha Chemical Co. has two divisions. The Raw Chemicals Division makes zinc oxide 99%, which is then
Multinational transfer pricing, effect of alternative transfer pricing methods, global income tax minimization. User Friendly Computer Inc., with headquarters in Nepean, Ontario, manufactures and
Transfer pricing methods, goal-congruence. BlackoilCorp. has two divisions, Refining and Production. The company's primary product is Clean Oil. Each division's costs are provided below:The
Transfer pricing methods, goal congruence. British Columbia Lumber has a Raw Lumber Division and a Finished Lumber Division. The variable costs are: Raw Lumber Division: $100 per 100 board-feet of
Transfer price dispute: market or distress price. Zanello Inc., manufacturer of home appli- ances, is organized along decentralized lines, with each manufacturing division operating as a separate
Multinational transfer pricing, global tax minimization. Kasba Inc. manufactures silicon waffles in its Oran factory. The company has marketing divisions throughout the world. The {.ganadian division
Multinational transfer pricing, goal-congruence (continuation of 23-24). Suppose that, thanks to a special trade agreement signed between the European Union and Morocco, now —_{_ perating income,
Dual pricing. A company has two divisions. The Bottle Division produces products that have variable costs of $3 per unit. Its 2009 sales were 150,000 to outsiders at $5 per unit and 40,000 |,
Transfer pricing dispute. Tokoyama Corporation manufactures small appliances such as coffee- makers and toasters. It is organized along decentralized lines, with each manufacturing division operating
Transfer pricing problem (continuation of 23-29). Refer to Exercise 23-29. Assume that Timers and Thermostats Division can sell the 1,000 units to other customers at $10 per unit with variable
Governance, transfer pricing. The Caledonia plant of Melrose Automotive Inc. manufac- tures recliners for car seats that are assembled in the Alliston Plant. The recliners are trans- ferred at 300%
Effect of alternative transfer pricing methods on division operating income. Crango Products is a cranberry cooperative that operates two divisions: a Harvesting Division and a Processing Division.

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