Blueberry Pie Company has given you the following information and asked you to calculate the residual income if the minimum acceptable income from operations as a percent of assets is 12%. Sales 4,300,000 2700,000 10,000,000 Costs and expenses Invested assets a.$400,000 b. $324,000 C$120,000 d. $516,000 Responsibility accounting reports for higher-level managers are O a, not available for lower-level managers b. more summarized than c. more detailed than d. the same as Responsibility accounting reports for profit centers most often take the form of a. balance sheets b. income statements c. statements of cash flows d. None of these choices are correct Which of the following is considered a responsibility center? a. Cost b. Profit c. Investment d. All of these choices are correct. Which of the following statements is true regarding decentralized a. Operational decisions made within b. Top management makes the operational decisions in a decentralized C. Top management makes the operational d. Division managers in decentralized operations often work closely with customers. a decentralized company always result in positive profits for the entire company. company, because they maintain operating expertise in all product lines and services t decisions in a decentralized company, because they maintain daily contact with all operations The ratio of income from operations to sales is referred to as a. residual income b. profit margin. c. investment turnover d. None of these choices are correct. A department that provides a service for internal departments is called a(n)department. a. charge out b. cost c. internal d. service A cost center manager would only make decisions about which of the following? a. the costs of improperly trained employees b. investments for the center c. sales d. the amount of fixed assets An investment center has responsibility for a. revenues and investments. b. investments c. costs and investments. d. costs, revenues, and investments. Divisional income from operations should be compared a. across profit centers. b. across service departments. c. over time to a budget. d. All of these choices are correct