Signin/Signup
Signin/Signup
Info
Warning
Danger

Accounting Expert Answers, Study Resources & Learning Aids

The vast field of accounting contributes to one of the largest subjects in our study resources. Accounting flashcards, homework answers for textbooks & other learning aids can increase your competency in this domain instantly. Become a top student with our support. Search Now…

Ask an Expert

Our Experts can answer your tough homework and study questions.

Answers in as fast as 15 minutes
Post a Question
2.3   Essay Questions 1) Distinguish between cooperation and collaboration. 2) According to J. Richard Hackman, what are the three primary criteria for judging team success? 3) What is the difference between structured and unstructured decisions? Give an example of each. 4) Explain why structured decisions seldom require collaboration. 5) Are most strategic decisions unstructured? Give.
7 Views
View Answer
19) Which of the following is an example of a strategic decision? A) deciding to increase the salaries of a group of employees B) deciding to open a centralized distribution system C) deciding to increase the reorder quantity of raw materials D) deciding to give an employee certain tasks and responsibilities 20) Which of the.
20 Views
View Answer
2.1   True/False Questions 1) A group of four painters, each painting a different wall in the same room, are not working cooperatively. 2) A group of programmers work separately to create modules and merge the modules later to build an application. This is an example of collaboration. 3) Feedback and iteration enable.
15 Views
View Answer
1.2   Multiple-Choice Questions 1) ________ states that the number of transistors per square inch on an integrated chip doubles every 18 months. A) Nielsen's Law B) Faraday's Law C) Moore's Law D) Newton's Law 2) According to Moore's Law, the ________. A) price of integrated chips increases once in 18 months B) size of computing devices and integrated.
9 Views
View Answer
21) Project documentation and a progress report are prepared during the starting phase of a project. 22) Preparing archival documents is performed during the finalizing phase of a project. 23) Managers assign project tasks to team members during the planning phase of project management. 24) The purpose of the planning phase of project.
8 Views
View Answer
Problems 1.Blue Computers began the current month with zero units of its Model XFD in work in process inventory.  During the month Blue started 2,500 units into production, completing 1,800 units by the end of the month.  Blue estimates that the 700 units still in process are 10% complete with respect.
13 Views
View Answer
11) Dynotrix Motors is a large car-manufacturing company. The company purchases raw materials from many small-sized sellers across the globe. In this case, Dynotrix Motors is characterized by ________. A) very low threat of substitute products B) high bargaining power over its suppliers C) very low threat of new entrants in the market D).
11 Views
View Answer
1.3   Essay Questions 1) State Moore's Law. What is the implication of Moore's Law for managers? 2) Explain the four nonroutine cognitive skills that are key to a successful career today. 3) Define the terms system, information system, and management information system. 4) List and briefly explain the five-component model of an information system.
10 Views
View Answer
39) Project teams should document project results and information for future teams. Which of the following is the project management phase in which the teams perform this function? A) doing B) planning C) starting D) finalizing 40) Project data is data that is ________. A) part of the collaboration's work product B) used to manage a project C).
7 Views
View Answer
31) The central idea of business process design is that organizations should automate or improve their existing functional systems. 32) Most of the value in a service company is generated by inbound logistics. 33) Each activity in a business process is a business function that receives inputs and produces outputs. 34) The cost.
8 Views
View Answer
3.1   True/False Questions 1) An organization's goals and objectives are determined by its competitive strategy. 2) The competitive strategy of an organization is determined by the value chain. 3) A major drawback of Porter's five forces model is that it ignores the rivalry among firms in the industry. 4) A major drawback of.
26 Views
View Answer
29) ________ decisions are the most structured and have very little need for collaboration. A) Operational B) Tactical C) Managerial D) Strategic 30) The fundamental purpose of the starting phase of a project is ________. A) accomplishing the project tasks effectively B) determining tasks and dependencies C) managing tasks and budgets of the project D) setting the ground.
10 Views
View Answer
41) Which of the following statements is true of information technology (IT)? A) Information technology (IT) refers to the products, methods, inventions, and standards that are used for the purpose of producing information. B) Information technology is an umbrella term that covers information systems and the products, methods, inventions, and standards used.
10 Views
View Answer
21) In the inbound logistics activity of a value chain, the manufacturer receives, stores, and disseminates inputs to a product. 22) Outbound logistics refers to transforming inputs into the final product. 23) A furniture manufacturer delivers products to its customers' houses. This is an example of inbound logistics. 24) The primary activity of.
9 Views
View Answer
6.When calculating equivalent units, we assume that cost is proportional to work done. Why does this assumption make sense? 7.Who in the factory would be best equipped to provide estimates of the percent completion for work in process? 8.Suppose your production manager tells you that one-half the WIP is 20% complete in.
8 Views
View Answer
21) Mark follows certain steps to access the supplementary readings for a course when using his organization's library management system. These steps that he follows are examples of the ________ component of an information system. A) procedure B) data C) software D) hardware 22) The words that an individual types in an MS Word document.
9 Views
View Answer
49) Which of the following tools facilitates asynchronous communication? A) videoconferencing B) webinar C) discussion forum D) screen-sharing application 50) ________ is a popular commercial webinar product used in virtual sales presentations. A) Microsoft SharePoint B) MS Office Web C) WebEx D) Google Drive 51) Which of the following is a reason why discussion forums are better than emails in.
8 Views
View Answer
Short Answer 1.What is the distinction between a line activity and a support activity? Give two examples of each.   2.What complicates the allocation of support activity costs? 3.What are the three methods for allocating the costs of support activities? 4.Name one important difference between the step-down method and the direct method? 5.Does changing the order.
9 Views
View Answer
TRUE/FALSE 1.A line activity relates indirectly to producing services or products. 2.In decentralized firms, it is likely that different managers oversee the activities connected with the different cost pools. 3.Cost allocation rates serve as the explicit “price” for the services line managers obtain from other line activities. 4.Electrical engineering is an example of a.
18 Views
View Answer
11) Operational decisions concern the allocation and utilization of resources. 12) Strategic decisions are typically not collaborative. 13) Moving a factory from Detroit to Mexico is an example of a strategic decision. 14) Finding the best location for building a new plant is an example of a structured decision. 15) Need.
9 Views
View Answer
31) Ordering additional hardware creates the least amount of organizational disruption compared to changes in the other four components of an information system. 32) Information technology and information systems are synonymous terms. 33) Information technology is an assembly of hardware, software, data, procedures, and people that produces information. 34) Information system refers to.
8 Views
View Answer
41) Business processes that span value-generating activities determine the scope and requirements of each organization's information systems. 42) Organizations cannot gain a competitive advantage by enhancing existing products or services. 43) Creating a new product to increase margin is an example of using product implementations to achieve competitive advantage. 44) An organization that.
9 Views
View Answer
21) According to the five-component model of information systems, the data and software components of information systems are capable of performing actions. 22) In the five-component model of an information system, data acts as a bridge between the computer and the human sides. 23) In the five-component model of an information system,.
9 Views
View Answer
6) What is the most important component of an information system? Why? 7) Explain how the five components of an information system are arranged in terms of ease of change and organizational disruption. 8) How is information technology different from information systems? 9) Discuss the common definitions of information. 10) What are the.
12 Views
View Answer
11) Meredith constantly analyzes her work in terms of her individual contribution that she makes to the overall output of the organization. This shows her ________ skills. A) collaboration B) experimentation C) systems thinking D) problem-solving 12) When presenting an idea to his colleagues, Marcus failed to consider others' views and got defensive when people.
9 Views
View Answer
Short Answer 1.What production environments are most suitable for process costing? 2.What is the key difference between process costing and job costing? 3.What is an equivalent unit? 4.Why is the concept of an equivalent unit important in process costing? 5.Why is the concept of equivalent units not relevant for job costing? 6.What are the five steps.
12 Views
View Answer
MULTIPLE CHOICE 16.In a consulting company specializing in designing multi-story office complexes, which of the following activities would not be classified as support activity? A.Shipping. B.Purchasing. C.Structural engineering. D.Human resources. E.All of the above would be support departments. 17.Accounting for reciprocity among support activities is important because: A.It increases the accuracy of cost estimates. B.It helps line.
13 Views
View Answer
Short Essay   1.Why is process costing suitable for a soft drink company but not well suited for a firm that makes luxury yachts? 2.What is the role for process costing in a Just-in-Time (JIT) production environment, where work-in-process inventories are negligible? For example, at any given point in time a JIT plant.
11 Views
View Answer
9) According to J. Richard Hackman, which of the following is a primary criterion for judging team success? A) growth in team capability B) experience in collaborating C) ability to be dynamic D) availability of external help 10) Which of the following is a primary purpose of collaboration? A) eliminating individual tasks B) being informed C) evaluating coworkers D).
10 Views
View Answer
Problems 1.To properly allocate cost, it is important to maintain separate cost pools for line activities and support activities.  It is important to distinguish between the two activities.  Indicate by placing an “X” in the appropriate column whether each of the following items describes a line activity or a support activity. .
12 Views
View Answer
31) Which of the following pairs of components constitutes the computer side of information systems? A) software and data B) data and hardware C) people and procedures D) hardware and software 32) Which of the following pairs of components constitutes the human side of information systems? A) software and procedures B) software and people C) people and procedures D).
12 Views
View Answer
11.Consider a multidepartment (or multi-station) production environment in which not all products go though all processes. Why would we use process costing on a station-by-station basis in this setting? Does this setting reflect a blend of both job- and process costing systems? 12.When you have beginning work-in-process inventory, why is the.
10 Views
View Answer
9.Consider the cost of materials. Why is the percentage completion for units that are finished during the period always 100%? 10.Consider the cost of materials added at the end of the process. Why is the percentage completion for units that are still in process always zero? 11.Why do most process-costing systems need.
13 Views
View Answer
51) Which of the following statements is true of data characteristics in the context of information systems? A) Data generated should be in excess of what is required. B) An appropriate relationship should exist between the cost of data and its value. C) Data should be relevant to the context, not.
10 Views
View Answer
Exercises 1.Kang Industries provides the following partially complete process-cost report. Item Equivalent Units of MaterialEquivalent Units of ConversionValue Ending WIP inventory              10,000       7,000     ? Cost of goods completed & transferred out 90,000       90,000             $270,000 The cost of goods completed and transferred out contains $162,000 toward the cost of materials and $108,000 toward.
13 Views
View Answer
31) Webinar is a tool used to facilitate asynchronous communication. 32) Email is a form of asynchronous communication. 33) Discussion forums ensure the simultaneous participation of the entire team. 34) One of the advantages of a team survey is that it is easy to determine who has not yet responded. 35) The applications teams.
7 Views
View Answer
Short Essays 1.What is the implicit time horizon that we assume when we allocate support activity costs to other cost objects such as products and other activities? 2.We rank support departments when using the step-down method. Alternate ranking criteria include department size, number of other departments serviced, and arbitrary ranking. Which method.
11 Views
View Answer
36.The step-down method of allocation improves the direct method by: A.Considering the reciprocity in consumption partially. B.Simplifying the allocation approach. C.Allocating more of the total cost of the service activity. D.Using a statistical approach to allocation. E.None of the above. 37.The XYZ Manufacturing Company has two support activity pools, Accounting (A) and Human Resources (H).  Costs.
10 Views
View Answer
11) The term management information systems refers to the management and use of information systems that help businesses achieve their strategies. 12) A system is a group of components that interact without a specific purpose. 13) According to the five-component framework, the five components of an information system are present in every.
13 Views
View Answer
11) A furniture dealer offering a wide variety of designs to premium customers exclusively is following an industry-wide cost leadership strategy. 12) Providing the lowest cost for a product or service across an industry can be referred to as focused cost-leadership. 13) Focused differentiation refers to providing a better product or service.
18 Views
View Answer
6) Describe project data and project metadata. 7) What is the difference between synchronous and asynchronous communications? Provide examples for each. 8) What are team surveys? What are their benefits? 9) Why is version control important for shared content? 10) Explain the importance of using task lists. .
13 Views
View Answer
41) Using a file server to exchange documents is superior to using Google Drive. 42) Only one user at a time can open Google Drive documents for editing. 43) Version management systems improve the tracking of shared content and provide version control. 44) In version control systems, the shared directories used to store.
5 Views
View Answer
1.1   True/False Questions 1) The number of transistors per square inch on an integrated chip doubles every 18 months according to Moore's Law. 2) Moore's Law predicts that the price to performance ratio of computers will double once in eighteen months. 3) Because of Moore's Law, the cost of data processing, communications, and.
17 Views
View Answer
6.How do we account for the self-consumption of resources (e.g., the power consumed by the Power Generation Department, or the Payroll Department processing checks for the employees in human resources) when we perform a step-down allocation? 7.Name one important difference between the reciprocal method and the step-down method. 8.Describe the dual-rate allocation.
10 Views
View Answer
41) Good information is conceived from accurate, correct, and complete data. 42) Good information requires that data be timely. 43) Data should be relevant to the subject, not necessarily to the context. 44) Data needs to be sufficient for the purpose for which it is generated, but just barely so. 45) A good information.
6 Views
View Answer
3.2   Multiple-Choice Questions 1) Which of the following factors determines the structure, features, and functions of an information system used in a company? A) the competitive strategy B) the value of its brands C) the size of the company D) the technology used by competitors 2) Porter's five forces model is used to assess ________. A) industry.
26 Views
View Answer
26.In a home construction company, support costs accumulated by the IT department can be allocated to all except which of the following departments when using the direct method? A.Design B.Electrical C.Masonry D.Purchasing 27.It has been determined that Administrative costs of $6,300 have been consumed on a percentage basis by the following departments: A.$5,040 B.$1,890 C.$2,363 D.$3,938 28.Assume Porter’s Consulting uses.
13 Views
View Answer
21) Which of the following value chain activities involves transforming raw materials into a finished product or service? A) operations B) inbound logistics C) marketing D) maintenance 22) Which of the following value chain activities involves collecting, storing, and physically distributing the product to buyers? A) inbound logistics B) operations C) customer service D) outbound logistics 23) Which of the.
11 Views
View Answer

Can't find what you're looking for ?

Ask our exprts a study questions, on us.
Get free Homework Help*