TRUE OR FALSE 5. ABC management is on the philosophy that activities identified for ABC can also be used for cost management and performance evaluation purposes.
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TRUE OR FALSE
5. ABC management is on the philosophy that activities identified for ABC can also be used for cost management and performance evaluation purposes.
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- Scenario 3 Ben Gibson, the purchasing manager at Coastal Products, was reviewing purchasing expenditures for packaging materials with Jeff Joyner. Ben was particularly disturbed about the amount spent on corrugated boxes purchased from Southeastern Corrugated. Ben said, I dont like the salesman from that company. He comes around here acting like he owns the place. He loves to tell us about his fancy car, house, and vacations. It seems to me he must be making too much money off of us! Jeff responded that he heard Southeastern Corrugated was going to ask for a price increase to cover the rising costs of raw material paper stock. Jeff further stated that Southeastern would probably ask for more than what was justified simply from rising paper stock costs. After the meeting, Ben decided he had heard enough. After all, he prided himself on being a results-oriented manager. There was no way he was going to allow that salesman to keep taking advantage of Coastal Products. Ben called Jeff and told him it was time to rebid the corrugated contract before Southeastern came in with a price increase request. Who did Jeff know that might be interested in the business? Jeff replied he had several companies in mind to include in the bidding process. These companies would surely come in at a lower price, partly because they used lower-grade boxes that would probably work well enough in Coastal Products process. Jeff also explained that these suppliers were not serious contenders for the business. Their purpose was to create competition with the bids. Ben told Jeff to make sure that Southeastern was well aware that these new suppliers were bidding on the contract. He also said to make sure the suppliers knew that price was going to be the determining factor in this quote, because he considered corrugated boxes to be a standard industry item. As the Marketing Manager for Southeastern Corrugated, what would you do upon receiving the request for quotation from Coastal Products?Standard Costing; Variance Analysis; Strategic Considerations In a Wall Street Journalarticle, the author notes that various retailers in the United States (e.g., Meijer, Gap, and OfficeDepot) are turning to consulting firms, such as Accenture, to develop engineered labor standards forcashiers and other retail workers. Monitoring labor-hour consumption (i.e., labor efficiency) undersuch standards involves timing from the first scan of an item in a customer’s purchase to the production of a sales receipt for the customer. A commentator for Meijer states that the system now in usehas enabled the company to more efficiently staff stores while concomitantly increasing customerservice ratings. A representative from another client of Accenture states that the new system allowsthe retailer to determine how many workers to schedule at a given time, resulting in a labor-costreduction of approximately 8%. Engineered standards were developed many years ago in a manufacturing environment, at…“means-ends analysis”. Provide an ORIGINAL example in which you state and illustrate the three steps involved
- What are Adjacent CPF Solutions?Well water inc. wants to produce and sell a new flavored water in order topenetrate the market, the product will have to sell at 2.60 per 12 oz bottle thefollowing data has been collected: Annual sales 50,000 bottlesProjected selling and administrative costs 8,000Desired profit 80,000The target cost per bottle is _____ per bottle (2 decimal places)Determine which factor of production is needed in the following problem. 1.The ABM manufacturing Co.hired a gardener.He uses a lawn mower for landscaping.Which factor of production would you consider this machine? 2.The owner of the company withdrew cash for the salaries of thw employees.which factor of production would you consider cash on hand? 3.The top manager of the firm said "the great ideas,consepts and emotional determination of a person to produce something that consumers want to buy" is very important for the company.What factor of production describes the ability to create great ideas? 4.The farmers planted pineapple cutting in the vacant area located in their locality.Which factor of production would you consider a pineapple plantation?
- How is the planning at JYSK? Planning:Consists of the processes necessary to strategically operate an existing supply chain.Napp Landscape Services offers designing and building home landscaping services, and will manage and maintain the landscape to. Over time many of its clients have seen their landscapes grow and mature, and they have worked with Napp to further enhance their landscape to meet their dream outdoors space. Napp offers tangible and core product levels to its clients, and also offers services to meet what additional product levels? Responses 1. personalized and promised core product levels 2. aspirational and augmented product levels 3. augmented and promised product levelsWeek 5Discussion 1Sustainability is an important ethical and environmental issue in purchasing. Describe one material, product, or service that can contribute to sustainability in a project you have been involved with, or in your current organization. Describe how these decisions enable the organization to avoid violations in terms of environmental issues. Respond to at least two of your classmatesâ postings.Discussion 2Personal liability is a serious issue in purchasing and supply management. Provide details from the text or your personal experience where a supply officer or project manager has been held personally liable for conditions of a contract. Comment on how you will proceed in the future to avoid any personal liability for contracts if at all possible. The text provides excellent examples that can be researched starting on page 311. Respond to at least two of your classmatesâ postings
- What the strategy should be for reviewing ESHS requirements in subcontractors and suppliers before contracting and how this is relevant in the selection process, also a strategy for develop a detailed plan and requirements that subcontractors and suppliers must achieve and implementing a monitoring process as well as comprehensive strategy to guarantee the accomplishment of ESHS requirements and consequences if subcontractors or suppliers do not accomplish them.Two items are omitted from each of the following three lists of cost of goods sold data from a manufacturing company income statement. Determine the amounts of the missing items, identifying them by letter. Finished goods Inventory,June1 $61,600 $46,200 (e) Cost of goods manufactured 329,000 (c ) 484,800 Cost of finished goods available for sales (a) $260,400 $540,000 Finished goods Inventory ,June30 72,800 61,600 (f) Cost of goods sold (b) (d) $513,6003.3 BriteSmile brand of teeth whitening products is considering adding a modified ver- sion of the product-a gel product in addition to its regular paste product. Variable costs and prices to wholesalers are: Unit selling price Unit variable costs Current paste product $5.00 $1.50 New gel product $6.50 $3.25 BriteSmile expects to sell 2 million units of the new gel product in the first year after introduction, but it estimates that only 30% of those sales will come from buyers who do not already purchase the company's paste product (that is, new customers). BriteSmile estimates that it would sell 3 million units of the current paste product if it did not introduce the gel. If the fixed costs of launching the new gel product will be $300,000 during the first year, should BriteSmile add the new gel product to its line? Why or why not?