The manager of High Times Restaurant wants to determine the price to charge for various lunch plates. Discuss what managerial accounting information the marginal accountant should provide and how the information would be useful
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- Give an example of managerial accounting information that could help a manager make the following decision. The manager of a Target store is deciding how many security personnel to employ for the purpose of reducing shoplifting.In a team of two or three students, interview the manager/owner of a local business. In this interview, ask the manager/owner the following questions: A. Does the business collect and use cost information to make decisions? B. Does it have a specialist in cost estimation who works with this cost data? If not, who is responsible for the collection of cost information? Be as specific as possible. C. What type of cost information does the business collect and how is each type of information used? D. How important does the owner/manager believe cost information is to the success of the business? Then, write a report to the instructor summarizing the results of the interview. Content of the memo must include date of the interview, the name and title of the person interviewed, name and location of the business, type of business (service, merchandising, manufacturing) and brief description of the goods/services provided by the business, and responses to questions A-D.The following situations describe scenarios that could use managerial accounting information: a. The manager of High Times Restaurant wants to determine the price to charge for various lunch plates. b. By evaluating the cost of leftover materials, the plant manager of a precision tool facility wants to determine how effectively the plant is being run. c. The division controller of West Coast Supplies needs to determine the cost of products left in inventory. d. The manager of the Maintenance Department of a large manufacturing company wants to plan next years anticipated expenditures. For each situation, discuss how managerial accounting information could be used.
- Assume that ABC Company planned to conduct the market survey to know the opinions of the customers on the price they wants to pay based on the functionality and quality of the products of the company. After knowing the price they took some control measures to achieve the desired profit. Being the accounting specialization student, explain the costing method followed by the ABC Company to get required profit.Give an example of managerial accounting information that could help a manager make the following decision. The president of Budget Car Rental is deciding whether to add luxury cars to the rental car fleet.4. Identify someone you know who works in a business organization. Talk with that person to learn about the individuals in the organization who are involved in the setting of prices. a. Describe the job of a person within the organization who plays a direct role in price setting.
- For the following activitie, explain which of the objectives of managerial accounting activity is involved. In some cases, several objectives may be involved. Measuring the cost of the inventory of digital cameras on hand in a Best Buy store.2) Assume that ABC Company planned to conduct the market survey to know the opinions of the customers on the price they want to pay based on the functionality and quality of the products of the company. After knowing the price they took some control measures to achieve the desired profit. Being the accounting specialization student, explain the costing method followed by the ABC Company to get required profit.Assume you have been hired by Cabelas Sporting Goods. As part of your new role in the accounting department, you have been tasked to set up a responsibility accounting structure for the company. As your first task, your supervisor has asked you to give an example of a cost center, profit center, and an investment center within the Cabelas organization. Your supervisor is a little unsure of the difference between a profit center and investment center and would like you to explain the difference.
- please solve the task by reading attached pictures of background knowledge What could the concept for cost and revenue accounting look like for Christine ́s business? Which parts of a cost accounting concept are necessary for her business? Calculate the profit of Christine ́s business and the return on investment?Do you feel comfortable with the situation?The role of management accounting in directing attention involves: Select one: O A. The recording of sales by each sales person O B. Establishing why sales targets were not achieved O C. Establishing the selling price of a service O D. The calculation of depreciation on office computersSelect the answer that best describes what is being asked. Consider the given table below: 1. How many teller/s incur/s the highest expected cost? a. 1 teller b. 2 tellers c. 3 tellers d. 4 tellers 2. How many number of teller/s incur/s the lowest expected cost? a. 2 tellers b. 3 tellers c. 4 tellers d. 5 tellers 3. What is your managerial decision if you currently have 3 tellers? a. Maintain three tellers b. Reduce the number of customers by limiting the facility c. Employ two additional tellers d. Layoff one teller