Garrison, Noreen & Brewer Cont. Ger. 14ªed (Soluções em Inglês)

Chapter 0 1 Managerial Accounting: An Over view 1-1 Chapter 1 Managerial Accounting: An Ove rview Solutions to Questions 1-1 Financial accounting is conc erned with re porting fina ncial informat ion to exte rnal pa rties, such as stockholders, creditors, a nd regula tors. Mana gerial ac counting is conce rned with p ro viding in formation to managers for u se within t he orga nization. Finan cial accou nting emp hasizes the fi nancial conseq uences of past transa ctions, obje ctivity and veri fiability, pre cision, a nd companywid e perfor mance, whe reas manageria l accounting emp hasizes d ecisions af fecting t he future, rele vance, time liness, and segment performance . Fi nancial ac counting is m andator y for ex ternal reports and it needs to comply w ith rules, such as genera lly accepte d accou nting princip les (GAAP ) and internationa l financi al r eporting standa rds (IFRS), wherea s manage rial a ccounting is not m andat ory and it doe s not need to com ply with exter nally imposed rules. 1-2 Five examples of plannin g activitie s include ( 1) estimating t he advertising revenu es for a future period, (2) estim a ting t he t otal expenses for a future period, including the sa laries of a ll actors, news reporters, and sp ortscaster s , (3) planning how many n ew television s hows to i ntroduce to the mar ket, (4) planning ea ch te levision s how \u2019 s designa ted broadca st time slot, a nd (5) plannin g the network\u2019s advertising activities and ex penditures. Five examples of control ling activities inclu de (1) com paring the actua l number o f viewers for each show t o it s viewers hip projection s, (2) comparing the actua l costs of pr oducing a made -for- television movie t o its budg et , (3) com paring the revenues earned from broadcasti ng a sporting e vent to the costs inc urred to br oadcast that event, (4) comp aring the actual costs of r unning a production st udio to the budget, a nd (5) com paring the actual cost of providing global, on - location news coverage to the budget. 1-3 The qua ntitative analysis w ould focus on determini ng the potentia l cost savings fr om buying the part rather than m aking it. The q ualitative analy sis would foc us on broade r issues such as strategy , risks, and corporate social respo nsibility . For example, i f the part is critical to the organiza tion\u2019 s strateg y , it may continue maki ng the part regardless of any pote ntial cost savi ngs from outso urcing. If the o verseas supplier m ight cr eate quality contr ol problems that could thre aten the end co nsum ers\u2019 we lfare, then the risks of outsourci ng may swa mp any cost savings. Final ly , from a social respo nsibility standpoi nt, a company may decide against outsourcing if it w ould result in l ayoffs at its domesti c manu facturing facility. 1-4 Companie s use budget s to translate plans into formal quantitative term s. Bud gets a re used for v ariou s purposes, s uch as forcing ma nagers to pla n ahe ad, allocat ing resource s across dep artments, coordinating act ivities acro ss depa rtments, esta blish ing goa ls that motivate people , and evaluat ing and rewarding employees. T hese various purpo ses often c onflict w ith one a nother , whi ch makes budgeti ng one of mana gement \u2019 s most challengi ng activitie s. 1-5 Manage rial account ing is relevant to all b usiness stude nts because a ll ma nagers engage in planning, co ntrol ling, a nd decision ma king acti vities. If manage rs wish to influe nce co -workers across the organization, the y must be Chapter 0 1 Managerial Accounting: An Over view 1-2 able to speak in f i nancial te rms to justify thei r proposed courses of a ction. 1-6 The Instit ute of Mana gement Acco untants estima tes tha t 80% of acco untants wo rk in non -public accounting e nvironments. Accou ntants that w ork in cor porate, non -prof it, and governm ental organizations are expected to use their planning , control ling, and d ecision -ma king skills to help improve performance. 1-7 Deere & C ompany is an exa mple of a company tha t compet es in terms of prod uct lea dership. The company\u2019s slogan \u201cnothi ng runs like a Dee re\u201d emphasi zes its product lea dership customer value proposition. Amazon.com c ompetes in t erms of operational e xcellence. The compa ny focuses on deli vering products faster , more co nveniently , and at a low er price t han competito rs. Charles Schwab comp etes in t erms of cust omer intima cy . It fo c uses on build ing personal relationships with clients so that it ca n tailor investmen t strategies to individual needs. 1-8 Planning, control ling , and d ecision ma king must be p erformed withi n the conte xt o f a compa ny\u2019 s strategy . F or exam ple, if a company tha t competes a s a prod uct leader pla ns to grow t oo quickly , it may diminish quality a nd threaten the company \u2019 s c ustomer value proposit ion. A compa ny that compet es in terms of operational exce llence woul d select c ontrol me asures that focus on t ime - based p erforman ce, convenience, and c ost. A comp any that compete s in term s of customer i ntimacy m ay decide against outsourcing emplo yee training to cut costs beca use it mig ht diminish the q uality of custom er ser vice. 1-9 This answ er is based o n Ni ke, which has sup pliers in o ver 40 countries . O ne risk t hat Nike faces is that its supplie rs will fail to ma nage their em ployees in a sociall y responsible manner . Nike conducts Manageme nt Audit V erif i cations at its o verseas plants t o minimize t his risk . Nike faces the risk t hat unsat isfactory environmental p erformance will d iminish its brand image. The company is i nvesting substa ntial resources to de velop products t hat minim ize adverse impacts o n the environment. Nike faces the risk tha t custome rs will not like it s new pr od ucts. The compa ny uses focus gro up research to proa ctively assess the c ustomers\u2019 rea ction to its new products. 1-10 Airlines face t he risk that large spikes in fuel prices w ill lower their prof it ability . Th erefore, they may reduce this ris k by spending m on ey on hedging contracts tha t enable them to loc k -in future fuel prices that will not change even if the m arket price i ncrease s. Steel manufacturers face major risks re lated to e mployee safety, so they crea te and monitor control measures rela ted to occupat ional sa fety compliance a nd performan ce. Restaurants face the risk that a n economic dow nturn w ill reduce custom er traff ic and low er sales. They reduce thi s risk by ch oosing to cre ate menus d uring eco nomic dow nturns tha t offer more low -priced entrees. 1-11 Barnes & Noble c ould segme nt its compa nywide performa nce by individua l store, by sa les channel ( i.e. , bricks -and-m ortar versus on -line ), and b y product line (e.g. non -f ict ion books, f iction bo oks, music CDs, toy s, etc. ). Procter & Gamble co uld segm ent it s performance b y product cat egory (e.g. , beauty and grooming, house hold care , and health a nd well -be ing), product li ne (e.g. , Crest, Tide, a nd Bounty), and stock keeping un its (e.g. , Crest Cavity Protectio n toot hpa ste, Crest E xtra Whitening toot hpaste, and Cr est Sensitivity toothpa ste). 1-12 Timberla nd publishe s quarte rly corporate social re sponsibility (CSR ) metrics (se e www.earthkeeper .com/CSR/csrdow nloads . Three o f those met rics include metri c to ns of ca rbon emissions, the p ercentage of total co tton sourced t hat is organic, an d renewable ene rgy use as a perce nt of total energy usage. Timberland \u2019s corporate slogan of \u201cdoing well b y doing g ood\u201d suggests tha t the compa ny publishes CSR reports bec au se it believes t hat its f i nancial success (i .e. , d oing well) is positively Chapter 0 1 Managerial Accounting: An Over view 1-3 influenced by it s social and environmental p erformance (i.e. , doing g ood). 1-13 Compa nies that use lea n productio n only ma ke units in response to customer or ders. T hey produce u nits just in tim e to satisfy cust omer dema nd, which res ults in minima l inventories. 1-14 Orga nizations are m anaged by peop le that have their o wn personal i nterests, insec urities, belie fs, and data -supported conclusions t hat ensure unanimous support for a giv e n course of actio n is the exception rather than the r ule. There fore, managers must posses s strong leader ship skills i f they wish to channel their c o -workers\u2019 efforts towards ac hieving org anizational goals. 1-15 Ethical b ehavior is the lubricant that keeps t he econo my running. Wit hout that lubricant, the economy would ope rate much less e ff icientl y \u2014less wou ld be available to cons umers, qua lity would be lower , and prices w ould be higher . Chapter 01A Corporate Governance 1A-1 Appendix 1A Corporate Governance Solutions to Questions 1A-1 Exa mple of control a ctivities incl ude (1) watching high scho ol athletes play prior to re cruiting them, (2) scout ing oppo nents prior t o playing them , (3) m onitoring eac h student -athlete\u2019 s classroo m a nd study hall attenda nce, (4) conducting flexibility and w eight training for the players, and ( 5) conducting practices in the pre -sea son and in betwee n games. 1A-2 Exa mples of control a ctivitie s include (1) a ttending int erviewing skills w orkshops, (2) a ttending resume writing w orkshops , (3) gat hering backgrou nd informatio n about possible emp loyers prior to interviewing wit h them, ( 4) developing e ffective study habits for ea ch class, and ( 5) participa ting in extra - curricular activ ities that buil d skills i mportant t o employe rs. 1A-3 Exa mples of control a ctivitie s include (1) in stalling f ire, radon, and carb on monoxi de detectors, (2) paying for annua l home hea ting system inspections , (3) installi ng locks on d oors, (4) storing all potentially harmful product s in safe loca tions away from children, ( 5) reduci ng the m aximum allowable hot water temp erature, (6) installing a home sec urity system , and (7) i nstalling pl astic covers over electrical outlets. Chapter 02 Managerial Accounti ng and Cost Concepts 2-1 Chapter 2 Managerial Accountin g and Cost Con cepts Solutions to Ques tions 2-1 The three major elements of prod uct costs in a manuf acturing company are direct ma terials, direct labor, and manufa cturing overhead. 2-2 a. Direct materials are an inte gral part of a finished product and their costs can be conveniently tra ced to it. b. Indirect materials are generally small items of material such as glue and nails. They may be an integral part of a fi nished product but their costs can be traced to the product only at great cost or inconvenience. c. Direct labor consists of labo r costs that can be easily tr aced to particular products. Direct labor is also called \u201ct ouch labor. \u201d d. Indirect labor consists of the la bor costs of janitors, supervisors, materia ls handlers, and other factory worker s that cannot be convenient ly traced to particular products. T hese labor costs are incurred to support prod uction, but the wor kers involved do not directl y work on the product. e. Manufacturing overhead includes all manu facturing costs except direct materials and direct labor. C onsequently, manufact uring overhead includes indirect materials and indirect labor as we ll as other manufact uring costs. 2-3 A product cost is any cost i nvolved in purchasing or m anufacturing goods. In the case of manufactured good s, these costs consist of direct materials, direct labor, a nd manufacturing overhead. A period cost is a cost that is taken directl y to the income statement as an expense in the period in which it is inc urred. Chapter 02 Managerial Accounti ng and Cost Concepts 2-2 2-4 a. Variable cost: The variable cost per u nit is constant, b ut total variable cost changes in direct prop ortion to ch anges in volume. b. Fixed cost: The total fixed cost is co nstant within the relevant ra nge. The average fixed cost per unit varies inversely with changes i n volume. c. Mixed cost: A mixed cost contains bot h variable and fixed cost eleme nts. 2-5 a. Unit fixed costs decrease as volume i ncreases. b. Unit variable costs remain c onstant as volume increase s. c. Total fixed costs remain constant as vol ume increases. d. Total variable costs increas e as volume increases. 2-6 a. Cost behavior: Cost behavior refers to the way in which costs change in response to changes in a measure of activity such as s ales volume, production volume, or orders processed. b. Relev ant range: The relevant r ange is the range of activity within which assumptions about variable and f ixed cost behavior are v alid. 2-7 An activity base is a measure of whatever causes the incurrence o f a v ariable c ost. Examples of acti vity bases include units produced, units sold, letters typed, beds in a hospital, meals ser ved in a cafe, service calls made, etc. Chapter 02 Managerial Accounti ng and Cost Concepts 2-3 2-8 The linear assumption is re asonably valid providing that the cost formula is used only within the rele v ant range. 2-9 A discretionary f ixed cost has a fairly short planning horizon\u2014usually a year . Such costs arise from annual d ecisions by management to spend on certain f ixed cost it ems, such as advertising, resea rch, and management development. A committed f ixed cost has a long planning horizon\u2014generally many years. Such costs relate to a company\u2019s inv estme nt in facilities, equipment, and basic organizat ion. Once such costs have been incurred, they are \u201clocked in\u201d for many years. 2-10 Y es. As the anticipa ted level of activity changes, the level of f ixed costs needed to support operations may also change. Most f ixed costs are adjusted upward and downward in large steps, rather than being absolutely f ixed at one level for all ranges of activity . 2-11 The high-low method uses only two p oints to determin e a cost formula. These two points are likely to be less than typical because they represent extremes of activity . 2-12 The formula for a mix ed cost is Y = a + bX. In cost a nalysis, the \u201ca\u201d term represents the f i xed cost and the \u201cb\u201d term represents the v ariable cost per unit of activity . 2-13 The term \u201cleast-squares regression\u201d means that the sum of the squares of the de viations from the plotted points on a graph to the regression line is smaller than could be obt ained from any other line that could be f itted to the data . 2-14 The contribution approach income stateme nt organizes costs by behavior , f irst ded ucting variable expenses to obtain contribution margin, and then deducting f ixed expenses to obtai n net operating income. The traditional approach organizes costs by function, such as production, selling, and administration. Within a functional area, f ixed a nd v ariable c osts are intermingled. 2-15 The contribution margin is t otal sales revenue less total variable expenses. 2-16 A differential cost is a cost that differs between alternatives in a decision. An opp ortunity cost is t he potential benefit that is gi ven up when one alternative is selected over anot her. A sunk cost is a c ost that has alrea dy been incurred and cannot be altered by any decision taken now or in the future. 2-17 No, differential costs can b e either variable or fixed. For example, the a lternatives might consist of purchasing one machine rather than another to make a product. The differe nce between the fixed costs o f purchasing the two machine s is a differential cost. Chapter 02 Managerial Accounti ng and Cost Concepts 2-4 Exercise 2 -1 (10 minutes) 1. The wages of employees who build the sa ilboats: direct labor cost. 2. The cost of adv ertising in th e local news papers: marketing and selling cost. 3. The cost of an aluminum mast installed in a sailboat: direct ma terial s cost. 4. The wages of the assembly shop\u2019s supervisor: manufactur ing overhead c ost. 5. Rent on the boathouse: a comb ination of man ufacturing overh ead, administra tive, and mark eting and selling cost. Th e rent would most likely be pr orated on th e basis o f the am ount of space occupied by manufa cturing, administra tive, and ma rketing operations . 6. The wages of the company \u2019s bookkeep er: administrative cost. 7. Sales commiss ions paid to the compan y\u2019s salespeople: marketing an d selling cost. 8. Depreciati on on power to ols: manufactu ring overhead cos t. Chapter 02 Managerial Accounti ng and Cost Concepts 2-5 Exercise 2 -2 (15 minutes) Product Cost Period Cost 1. The cost of th e memory chips us ed in a radar set ..... ........ ....... ........ ....... ....... ........ . X 2. Factory hea ting costs ....... ....... ....... ........ ...... X 3. Factory equi pment mainten ance costs ...... ..... X 4. Training c osts for new adm inistrative employees .. ........ ....... ........ ....... ........ ....... . X 5. The cost of th e solder that is used in assembling th e radar sets ...... ....... ....... ...... X 6. The travel c osts of the company \u2019s salespersons .. ....... ....... ........ ....... ........ ...... X 7. Wages and salaries of factory s ecurity personnel .. ........ ....... ....... ........ ....... ........ ... X 8. The cost of air -conditi oning executive off ices ..... ........ ....... ....... ........ ..... X 9. Wages and salaries in the de partment th at handles bi lling customers .... ........ ....... ........ X 10. Depreciati on on the equipm ent in the fitness room used by factory workers... ....... X 11. Telephone expenses incurre d by factor y management . ........ ....... ....... ........ ....... ....... X 12. The costs o f shipping c ompleted radar sets to customers ...... ....... ....... ........ ....... ........ .. X 13. The wages of the workers who assemble the radar sets ..... ....... ....... ........ ....... ........ .. X Chapter 02 Managerial Accounti ng and Cost Concepts 2-6 14. The president \u2019s salary....... ........ ....... ........ ..... X 15. Health insu rance premiums f or factory personnel .. ........ ....... ....... ........ ....... ........ ... X

Garrison, Noreen & Brewer Cont. Ger. 14ªed (Soluções em Inglês)

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