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business
management accounting

Questions and Answers of Management Accounting

Are environmental costs significant enough to track and report to management? lop2
Will improving environmental performance increase or decrease total environmental costs? lop2
Should environmental costs be assigned to products and processes as a separate item? lop2
What is the best way to control environmental costs? lop2
Should companies be concerned about environmental costs that they cause but for which they do not have financial responsibility? lop2
Explain why firms have an increased interest in environmental costing. lop2
What is ecoefficiency? lop2
What are the six incentives, or causes, for ecoeffi- ciency? lop2
What is an environmental cost? lop2
What are the four categories of environmental costs? Define each category. lop2
What is the difference between a realized exter- nal failure (environmental) cost and an unrealized external failure (societal) cost? lop2
What does full environmental costing mean? full private costing? lop2
Explain how functional-based costing assigns en- vironmental costs to products. What are the prob- lems with this approach? lop2
Explain how activity-based costing assigns envi- ronmental costs to products. lop2
What information is communicated by the unit environmental cost of a product? lop2
What is life-cycle assessment? lop2
What are the environmentally important life-cycle. stages of a product? lop2
Define the three steps of life-cycle assessment. lop2
How can life-cycle costing improve life-cycle as- sessment? lop2
What is the justification for adding an environ- mental perspective to the Balanced Scorecard? lop2
What are the five core objectives of the environ- mental perspective? lop2
Why is minimizing the use of raw materials an environmental issue? lop2
What are some possible performance measures for the objective of minimizing the release of residues? lop2
Do you agree that all environmental failure ac- tivities are nonvalue-added activities? Explain. lop2
What is the meaning of design for the environ- ment? What is its role in activity-based manage- ment of environmental activities? lop2
Describe the possible value of financial measures of environmental performance. Give several ex- amples. lop2
Classify the following environmental activities as prevention costs, detection costs, internal failure costs, or external failure costs. For external failure costs, classify the costs as societal or
At the end of 2001, Fargo Chemicals began to implement an environmental quality management program. As a first step, it identified the following costs for the year just ended in its accounting
Billing Chemical produces a number of chemical products, two of which are a dyestuff intermediate and an adhesive for rubber. The controller and environmen- tal manager have identified the following
Refer to the data in Exercise 12-4. Suppose that the CEO of Billing decides to launch an environmental performance improvement program. First, efforts were made to reduce the amount of packaging. The
Loring Chemical Products Division produces surfactants, ingredients used in producing laundry detergents (surfactants are the components that help release soil from clothing). There are different
Derby Chips is an international producer of corn chips. At the end of 2001, Mary Hahn, president of Derby, appointed a task force to focus on the packaging and product use segments of its product's
Identify the core environmental objective associated with each of the following measures.Tons of greenhouse gas emissions Tons of hazardous waste delivered for off-site management Pounds of plastic
At the beginning of 1998, Henderson Company, an international telecommunications company, embarked on an environmental improvement program. The company set a goal to have all its facilities ISO 14001
Refer to Exercise 12-9. As part of its environmental cost reporting system, Henderson tracks its total environmental costs. Consider the cost and sales data given below.Year Total Environmental Costs
Refer to Problem 12-13. In 1999, Jack Carter, president of Kartel, requested that en- vironmental costs be assigned to the two major products produced by the company. He felt that knowledge of the
Identify and describe the four types of quality costs. lop54
Prepare a quality cost report and explain the difference between the conventional view of acceptable quality level and the view espoused by total quality control. lop54
Explain why quality cost information is needed and how it is used. lop54
Explain what productivity is and calculate the impact of productivity changes on profits. lop54
Why has measurement of productivity and quality become so important? lop54
What are quality costs? lop54
How can improving quality reduce quality costs? lop54
What kind of quality cost reports should be prepared by the accounting department? lop54
What is meant by “productivity”? lop54
How is productivity measured? lop54
Explain what is meant by "quality." lop54
What is reliability? durability? lop54
What is quality of conformance? lop54
Explain the difference between the traditional view of conformance and the robust view. lop54
Why are quality costs the costs of doing things wrong? lop54
Identify and discuss the four kinds of quality costs. lop54
Explain why external failure costs can be more devastating to a firm than internal failure costs. lop54
What are hidden quality costs? Provide an ex- ample. lop54
What are the three methods for estimating hid- den quality costs? lop54
Discuss the value of a quality cost report. lop54
What is the difference between the AQL model and the zero-defects model? lop54
What is the difference between the zero-defects model and the robust quality model? lop54
13. Explain the purpose of multiple-period trend analysis for quality costs. lop54
Define total productive efficiency. lop54
Explain the difference between partial and total measures of productivity. lop54
Discuss the advantages and disadvantages of par- tial measures of productivity. lop54
How can a manager measure productivity im- provement? lop54
What is profit-linked productivity measurement? lop54
Explain why profit-linked productivity measure- ment is important. lop54
What is the price-recovery component? lop54
Can productivity improvements be achieved without improving quality? Explain.lop5
Why is it important for managers to be concerned with both productivity and quality? nj5
What are the differences between quality and pro- ductivity? similarities? mk6
What is gainsharing? mk5
During 2000 and 2001, Hunington Company reported sales of $6,000,000 (for each year). Hunington listed the following quality costs for the past two years. Assume that all changes in the quality costs
Lakay Company had sales of $40 million in 1994. In 2001, sales had increased to $50 million. A quality-improvement program was implemented in 1994. Overall conformance quality was targeted for
Mendara Company has sales of $4 million and quality costs of $800,000. The company is embarking on a major quality-improvement program. During the next three years, Mendara intends to attack
At the end of 2001, Minot Metal Works began to focus on its quality costs. As a first step, it identified the following costs in its accounting records as quality-related:2001 Sales (50,000 units @
Nestten Company manufactures a product that has a target value of 20 ounces.Specification limits are 20 ounces plus or minus 0.50 ounce. The value of K is $80. A sample of five units produced the
The controller of Golden Company has computed quality costs as a percentage of sales for the past five years (1997 was the first year the company implemented a quality-improvement program). This
Doran Company produces a product that uses two inputs, energy and labor. During the past month, 40 units of the product were produced, requiring 32 units of energy and 128 hours of labor. An
Rington Company is considering the acquisition of an automated system that would decrease the number of units scrapped because of poor quality. (This proposal is part of an ongoing effort to improve
Lau Company gathered the following data for the past two years:Base Year Current Year Output 150,000 180,000 Output prices $20 $20 Input quantities:Materials (1b) 200,000 180,000 Labor (hr) 50,000
Norton Company produces handcrafted leather belts. Virtually all the manufacturing cost consists of materials and labor. Over the past several years, profits have been declining because the cost of
Reece Manufacturing rewards its plant managers for their ability to meet budgeted quality cost reductions. The bonus is increased if the productivity goal is met or exceeded. The productivity goal is
Using the Internet, answer the following questions:1. What is the Malcolm Baldrige National Quality Award?2. Identify three companies who have been given the award during the most recent award year.
Explain how unit standards are set and why standard cost systems are adopted. lop5
Explain the purpose of a standard cost sheet. lop5
Describe the basic concepts underlying variance analysis and explain when variances should be investigated. lop5
Compute the materials and labor variances and explain how they are used for control. lop5
Compute the variable and fixed overhead variances and explain their meanings. lop5
Prepare journal entries for materials and labor variances and describe the accounting for overhead variances. (Appendix). lop5
What was motivating Millie to implement a more formal cost control system? lop5
Why does a standard cost system provide more detailed control information? lop5
How can standards be used to control costs? lop5
Discuss the difference between budgets and stan- dard costs. lop5
Describe the relationship that unit standards have with flexible budgeting. lop5
What is the quantity decision? the pricing decision? lop5
Why is historical experience often a poor basis for establishing standards? lop5
Should standards be set by engineering studies? Why or why not? lop5
What are ideal standards? currently attainable stan- dards? Of the two, which is usually adopted? Why? lop5
Explain why standard costing systems are adopted. lop5
How does standard costing improve the control function? lop5
Discuss the differences among actual costing, nor- mal costing, and standard costing. lop5

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