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Chapter 24: Q24-7RQ (page 1355)
What is a responsibility center?
Answer
The responsibility center refers to the section or unit of an organization responsible for specific tasks assigned to the same.
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How is the use of a balanced scorecard as a performance evaluation system helpful to companies?
Consider the following key performance indicators, and classify each according to the balanced scorecard perspective it addresses. Choose from financial perspective, customer perspective, internal business perspective, or learning and growth perspective.
a. Number of employee suggestions implemented
b. Revenue growth
c. Number of on-time deliveries
d. Percentage of sales force with access to real-time inventory levels
e. Customer satisfaction ratings
f. Number of defects found during manufacturing
g. Number of warranty claims
h. Return on investment
i. Variable cost per unit
j. Percentage of market share
k. Number of hours of employee training
l. Number of new products developed
m. Yield rate (number of units produced per hour)
n. Average repair time
o. Employee satisfaction
p. Number of repeat customers
Fill in the blanks with the phrase that best completes the sentence.Some phrases may be used more than once and some not at all.
Phrases:
1. The maintenance department at the local zoo is a(n)___________
2. The gift shop at the local zoo is a(n)____________
3. The menswear department of a department store, which is responsible forbuying and selling merchandise, is a(n)_______________
4. The production line at a manufacturing plant is a(n)
5. A( n)________________is any segment of the business whose manager isaccountable for specific activities.
6. A division of a beverage manufacturing company responsible for aparticular brand of soft drink is a(n)_______________
7. The sales manager in charge of a shoe company鈥檚 northwest sales territoryoversees a(n)
8. Managers of cost and revenue centers are at_____________ levels of theorganization than are managers of profit and investment centers.______
What are two key performance indicators used to evaluate investment centers?
Question:The accountant for a subunit of Speed Sports Company went on vacation before completing the subunit鈥檚 monthly responsibility report. This is as far as she got:
Speed鈥擲ubunit X Revenue by Product Actual Results Flexible Budget Variance Flexible Budget Sales Volume Variance Static Budget
Downhill-RI \( 321,000 (a) (b) \) 17,000 F \( 295,000
Downhill-RII 151,000 (c) \) 161,000 (d) 145,000
Cross-EXI 285,000 \( 3,000 U 288,000 (e) 303,000
Cross-EXII 259,000 (f) 255,000 16,500 U 271,500
Snow-LXI 425,000 2,000 F (g) (h) 404,000
Total \) 1,441,000 (i) (j) (k) \( 1,418,500
Requirements
1. Complete the responsibility report for this subunit.
2. Based on the data presented, what type of responsibility center is this subunit?
3. Which items should be investigated if part of management鈥檚 decision criteria is to investigate all variances exceeding \)12,000?
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