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TEST BANK FOR SOLUTION MANUAL MANAGERIAL ACCOUTING 11TH EDITION AL CHAPTERS COMPLETE SOLUTIONS GRADED A+
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TEST BANK FOR SOLUTION MANUAL MANAGERIAL ACCOUTING 11TH EDITION ALL CHAPTERS COMPLETE SOLUTIONS GRADED A+

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  • October 30, 2024
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Solution Manual jj




Managerial Accounting j j




by ffiarrison Noreen



Uploaded by jj




Mudassar Hassanjj




University of j j




Sargodha
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,Chapter 1 jj




Managerial Accounting and the jj jj jj




BusinessEnvironment
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Solutions to Questions jj jj




1-1 Managerial accounting is concerned with jj jj jj jj from making one product to making another al-
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providing information to managers for use within
jj jj jj jj jj jj jj lows the company to respond more quickly to cus-
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the organization. Financial accounting is con-
jj jj jj jj jj jj tomers. Finally, smaller batches make it easier to
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cerned with providing information to
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stockholders,creditors, and others outside of the
jj j jj jj jj jj jj ina large number of defective units.
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organization.
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1-7 The main benefits of a successful JIT jj jj jj jj jj jj


1-2 Essentially, managers carry out three ma- jj jj jj jj jj sys-tem are reductions in: (1) funds tied up in
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jor activities in an organization: planning,
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directingand motivating, and controlling. All three
jj j jj jj jj jj jj throughput time; and (4) defects.
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activitiesinvolve decision making.
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1-8 TQM generally approaches improvement jj jj jj


1-3 The Planning and Control Cycle involves jj jj jj jj jj in a series of small steps that are planned and
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formulating plans, implementing plans,
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measuringperformance, and evaluating
jj j jj jj ProcessReengineering involves completely
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differences betweenplanned and actual
jj jj j jj jj redesigning business processes from the ground
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performance.
jj up—often with the use of outside consultants.
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1-4 A line position is directly related to the jj jj jj jj jj jj jj 1-9 If Process Reengineering is successful, jj jj jj jj


achievement of the basic objectives of the
jj jj jj jj jj jj jj fewer workers are needed. If management re-
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organi- zation. A staff position is not directly
jj jj jj jj jj jj jj jj sponds by laying off workers, morale will
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related to theachievement of those objectives;
jj jj jj j jj jj jj almostcertain suffer.
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rather, it is sup- portive, providing services and
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assistance to otherparts of the organization.
jj jj jj j jj jj jj 1-10 Some benefits from improvement efforts jj jj jj jj


come from cost reductions, but the primary
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1-5 In contrast to financial accounting, mana- jj jj jj jj jj bene-fit is often an increase in capacity. At non-
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gerial accounting: (1) focuses on the needs of
jj jj jj jj jj jj jj jj con- straints, increases in capacity just add to
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the manager; (2) places more emphasis on the
jj jj jj jj jj jj jj jj the al- ready-existing excess capacity.
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future;
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(3) emphasizes relevance and flexibility, rather
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than precision; (4) emphasizes the segments of
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anorganization; (5) is not governed by GAAP; and
jj j jj jj jj jj jj jj jj 1-11 If people generally did not act ethically in jj jj jj jj jj jj jj


(6) is not mandatory. jj jj business, no one would trust anyone else and
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people would be reluctant to enter into business
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1-6 A number of benefits accrue from jj jj jj jj jj transactions. The result would be less funds
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reducedsetup time. First, reduced setup time
jj j jj jj jj jj jj raisedin capital markets, fewer goods and
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allows a company to produce in smaller batches,
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which in turn reduces the level of inventories.
jj jj jj jj jj jj jj jj higher prices.
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Second, re- duced setup time allows a company
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to spend moretime producing goods and less
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time getting ready to produce. Third, the ability to
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© The McGraw-Hill Companies, Inc., 2006.
rapidly change
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Solutions Manual, Chapter 1 jj jj jj 1

,Uploaded by jj Mudassar Hassan jj




Exercise 1-1 (10 minutes)
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1. Line
2. Directing and motivating
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3. Budgets
4. Planning
5. Staff
6. Decentralization
7. Precision; Nonmonetary data
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8. Managerial accounting; Financial accounting
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9. Feedback
10. Controller
11. Performance report jj




12. Chief Financial Officer
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© The McGraw-Hill Companies, Inc., 2006. All rights reserved.
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2 Managerial Accounting, 11th Edition
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, Exercise 1-2 (10 minutes)
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1. Total quality management; Process reengineering
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2. Just-In-Time
3. Nonconstraint
4. Benchmarking
5. Setup
6. Constraint
7. Non-value-added activities jj




8. Business process jj




© The McGraw-Hill Companies, Inc., 2006. All rights
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Solutions Manual, Chapter 1
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reserved.
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3

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