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ISBN-10 : 0133803813
ISBN-13 : 978-0133803815
Author: Charles Horngren
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Cost Accounting A Managerial Emphasis 15th Table of contents:
1 The Manager and Management Accounting
Learning Objectives
All businesses are concerned about revenues and costs
For Coca-Cola, Smaller Sizes Mean Bigger Profits
Financial Accounting, Management Accounting, and Cost Accounting
Strategic Decisions and the Management Accountant
Value-Chain and Supply-Chain Analysis and Key Success Factors
Value-Chain Analysis
Supply-Chain Analysis
Key Success Factors
Decision Making, Planning, and Control: The Five-Step Decision-Making Process
Key Management Accounting Guidelines
Cost–Benefit Approach
Behavioral and Technical Considerations
Different Costs for Different Purposes
Organization Structure and the Management Accountant
Line and Staff Relationships
The Chief Financial Officer and the Controller
Management Accounting Beyond the Numbers2
Professional Ethics
Institutional Support
Typical Ethical Challenges
Problem for Self-Study
Solution
Decision Points
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
2 An Introduction to Cost Terms and Purposes
Learning Objectives
What does the word cost mean to you?
High Fixed Costs Bankrupt Quiksilver1
Costs and Cost Terminology
Direct Costs and Indirect Costs
Cost Allocation Challenges
Factors Affecting Direct/Indirect Cost Classifications
Cost-Behavior Patterns: Variable Costs and Fixed Costs
Cost Drivers
Relevant Range
Relationships Between Types of Costs
Total Costs and Unit Costs
Unit Costs
Use Unit Costs Cautiously
Business Sectors, Types of Inventory, Inventoriable Costs, and Period Costs
Manufacturing-, Merchandising-, and Service-Sector Companies
Types of Inventory
Commonly Used Classifications of Manufacturing Costs
Inventoriable Costs
Period Costs
Illustrating the Flow of Inventoriable Costs and Period Costs
Manufacturing-Sector Example
Recap of Inventoriable Costs and Period Costs
Prime Costs and Conversion Costs
Measuring Costs Requires Judgment
Measuring Labor Costs
Overtime Premium and Idle Time
Benefits of Defining Accounting Terms
Different Meanings of Product Costs
A Framework for Cost Accounting and Cost Management
Calculating the Cost of Products, Services, and Other Cost Objects
Obtaining Information for Planning and Control and Performance Evaluation
Analyzing the Relevant Information for Making Decisions
Problem for Self-Study
Solution
Decision Points
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
3 Cost–Volume–Profit Analysis
Learning Objectives
All managers want to know how profits will change as the units sold, selling price, or the cost per unit of a product or service change
How Coachella Tunes Up the Sweet Sound of Profits1
Essentials of CVP Analysis
Contribution Margin
Expressing CVP Relationships
Equation Method
Contribution Margin Method
Graph Method
Cost–Volume–Profit Assumptions
Breakeven Point and Target Operating Income
Breakeven Point
Target Operating Income
Income Taxes and Target Net Income
Using CVP Analysis for Decision Making
Decision to Advertise
Decision to Reduce the Selling Price
Determining Target Prices
Sensitivity Analysis and Margin of Safety
Cost Planning and CVP
Alternative Fixed-Cost/Variable-Cost Structures
Operating Leverage
Effects of Sales Mix on Income
CVP Analysis in Service and Not-for-Profit Organizations
Contribution Margin Versus Gross Margin
Problem for Self-Study
Solution
Decision Points
Appendix Decision Models and Uncertainty2
Role of a Decision Model
Expected Value
Good Decisions and Good Outcomes
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
4 Job Costing
Learning Objectives
No one likes to lose money
Job Costing and the World’s Tallest Building1
Building-Block Concepts of Costing Systems
Job-Costing and Process-Costing Systems
Job Costing: Evaluation and Implementation
Time Period Used to Compute Indirect-Cost Rates
Normal Costing
General Approach to Job Costing Using Normal Costing
The Role of Technology
Actual Costing
A Normal Job-Costing System in Manufacturing
General Ledger
Explanations of Transactions
Subsidiary Ledgers
Materials Records by Type of Material
Labor Records by Employee
Manufacturing Department Overhead Records by Month
Work-in-Process Inventory Records by Jobs
Finished Goods Inventory Records by Jobs
Other Subsidiary Records
Nonmanufacturing Costs and Job Costing
Budgeted Indirect Costs and End-of-Accounting-Year Adjustments
Underallocated and Overallocated Indirect Costs
Adjusted Allocation-Rate Approach
Proration Approach
Write-off to Cost of Goods Sold Approach
Choosing Among Approaches
Variations from Normal Costing: A Service-Sector Example
Problem for Self-Study
Solution
Decision Points
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
5 Activity-Based Costing and Activity-Based Management
Learning Objectives
A good mystery never fails to capture the imagination
General Motors and Activity-Based Costing1
Broad Averaging and Its Consequences
Undercosting and Overcosting
Product-Cost Cross-Subsidization
Simple Costing System at Plastim Corporation
Design, Manufacturing, and Distribution Processes
Simple Costing System Using a Single Indirect-Cost Pool
Applying the Five-Step Decision-Making Process at Plastim
Refining a Costing System
Reasons for Refining a Costing System
Guidelines for Refining a Costing System
Activity-Based Costing Systems
Plastim’s ABC System
Cost Hierarchies
Implementing Activity-Based Costing
Implementing ABC at Plastim
Comparing Alternative Costing Systems
Considerations in Implementing Activity-Based Costing Systems
Benefits and Costs of Activity-Based Costing Systems
Behavioral Issues in Implementing Activity-Based Costing Systems
Activity-Based Management
Pricing and Product-Mix Decisions
Cost Reduction and Process Improvement Decisions
Design Decisions
Planning and Managing Activities
Activity-Based Costing and Department Costing Systems
ABC in Service and Merchandising Companies
Problem for Self-Study
Solution
Decision Points
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
6 Master Budget and Responsibility Accounting
Learning Objectives
No one likes to run out of cash
“Scrimping” at the Ritz: Master Budgets
Budgets and the Budgeting Cycle
Strategic Plans and Operating Plans
Budgeting Cycle and Master Budget
Advantages and Challenges of Implementing Budgets
Promoting Coordination and Communication
Providing a Framework for Judging Performance and Facilitating Learning
Motivating Managers and Other Employees
Challenges in Administering Budgets
Developing an Operating Budget
Time Coverage of Budgets
Steps in Preparing an Operating Budget
Financial Planning Models and Sensitivity Analysis
Budgeting and Responsibility Accounting
Organization Structure and Responsibility
Feedback
Responsibility and Controllability
Human Aspects of Budgeting
Budgetary Slack
Stretch Targets
Ethics
Kaizen Budgeting
Budgeting for Reducing Carbon Emissions
Budgeting in Multinational Companies
Problem for Self-Study
Solution
Decision Points
Appendix The Cash Budget
Preparation of Budgets
Sensitivity Analysis and Cash Flows
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
7 Flexible Budgets, Direct-Cost Variances, and Management Control
Learning Objectives
Every organization, regardless of its profitability or growth, has to maintain control over its expenses
Dell Goes Green to Reduce Standard Costs for Packaging1
Static Budgets and Variances
The Use of Variances
Static Budgets and Static-Budget Variances
Flexible Budgets
Flexible-Budget Variances and Sales-Volume Variances
Sales-Volume Variances
Flexible-Budget Variances
Standard Costs for Variance Analysis
Obtaining Budgeted Input Prices and Budgeted Input Quantities
Price Variances and Efficiency Variances for Direct-Cost Inputs
Price Variances
Efficiency Variance
Journal Entries Using Standard Costs
Journal Entry 1A
Journal Entry 1B
Journal Entry 2
Implementing Standard Costing
Standard Costing and Information Technology
Wide Applicability of Standard Costing
Management’s Use of Variances
Multiple Causes of Variances
When to Investigate Variances
Using Variances for Performance Measurement
Organization Learning
Continuous Improvement
Financial and Nonfinancial Performance Measures
Benchmarking and Variance Analysis
Problem for Self-Study
Solution
Decision Points
Appendix Mix and Yield Variances for Substitutable Inputs
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
8 Flexible Budgets, Overhead Cost Variances, and Management Control
Learning Objectives
What do this week’s weather forecast and an organization’s performance have in common?
Tesla Motors Gigafactory1
Planning of Variable and Fixed Overhead Costs
Planning Variable Overhead Costs
Planning Fixed Overhead Costs
Standard Costing at Webb Company
Developing Budgeted Variable Overhead Rates
Developing Budgeted Fixed Overhead Rates
Variable Overhead Cost Variances
Flexible-Budget Analysis
Variable Overhead Efficiency Variance
Variable Overhead Spending Variance
Journal Entries for Variable Overhead Costs and Variances
Fixed Overhead Cost Variances
Production-Volume Variance
Interpreting the Production-Volume Variance
Journal Entries for Fixed Overhead Costs and Variances
Integrated Analysis of Overhead Cost Variances
4-Variance Analysis
Combined Variance Analysis
Production-Volume Variance and Sales-Volume Variance
Variance Analysis and Activity-Based Costing
Flexible Budget and Variance Analysis for Direct Materials-Handling Labor Costs
Flexible Budget and Variance Analysis for Fixed Setup Overhead Costs
Overhead Variances in Nonmanufacturing Settings
Financial and Nonfinancial Performance Measures
Problem for Self-Study
Solution
Decision Points
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
9 Inventory Costing and Capacity Analysis
Learning Objectives
Few numbers capture the attention of managers and shareholders more than operating profits
Lean Manufacturing Helps Boeing Work Through Its Backlog1
Variable and Absorption Costing
Variable Costing
Absorption Costing
Comparing Variable and Absorption Costing
Variable vs. Absorption Costing: Operating Income and Income Statements
Comparing Income Statements for One Year
Comparing Income Statements for Multiple Years
Variable Costing and the Effect of Sales and Production on Operating Income
Absorption Costing and Performance Measurement
Undesirable Buildup of Inventories
Proposals for Revising Performance Evaluation
Comparing Inventory Costing Methods
Throughput Costing
A Comparison of Alternative Inventory-Costing Methods
Denominator-Level Capacity Concepts and Fixed-Cost Capacity Analysis
Absorption Costing and Alternative Denominator-Level Capacity Concepts
Theoretical Capacity and Practical Capacity
Normal Capacity Utilization and Master-Budget Capacity Utilization
Effect on Budgeted Fixed Manufacturing Cost Rate
Choosing a Capacity Level
Product Costing and Capacity Management
Pricing Decisions and the Downward Demand Spiral
Performance Evaluation
Financial Reporting
Tax Requirements
Planning and Control of Capacity Costs
Difficulties in Forecasting Chosen Denominator-Level Concept
Difficulties in Forecasting Fixed Manufacturing Costs
Nonmanufacturing Costs
Activity-Based Costing
Problem for Self-Study
Solution
Decision Points
Appendix Breakeven Points in Variable Costing and Absorption Costing
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
10 Determining How Costs Behave
Learning Objectives
What is the value of looking at the past?
UPS Uses “Big Data” to Understand Its Costs While Helping the Environment1
Basic Assumptions and Examples of Cost Functions
Basic Assumptions
Linear Cost Functions
Review of Cost Classification
Choice of Cost Object
Time Horizon
Relevant Range
Identifying Cost Drivers
The Cause-and-Effect Criterion
Cost Drivers and the Decision-Making Process
Cost Estimation Methods
Industrial Engineering Method
Description of Method
Advantages and Challenges
Conference Method
Description of Method
Advantages and Challenges
Account Analysis Method
Description of Method
Advantages and Challenges
Quantitative Analysis Method
Description of Method
Advantages and Challenges
Estimating a Cost Function Using Quantitative Analysis
High-Low Method
Regression Analysis Method
Evaluating and Choosing Cost Drivers
Cost Drivers and Activity-Based Costing
Nonlinear Cost Functions
Learning Curves
Cumulative Average-Time Learning Model
Incremental Unit-Time Learning Model
Incorporating Learning-Curve Effects into Prices and Standards
Data Collection and Adjustment Issues
Problem for Self-Study
Solution
Decision Points
Appendix Regression Analysis
Estimating the Regression Line
Goodness of Fit
Significance of Independent Variables
Specification Analysis of Estimation Assumptions
Using Regression Output to Choose Cost Drivers of Cost Functions
Multiple Regression and Cost Hierarchies
Multicollinearity
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
11 Decision Making and Relevant Information
Learning Objectives
How many decisions have you made today?
Relevant Costs and Broadway Shows1
Information and the Decision Process
The Concept of Relevance
Relevant Costs and Relevant Revenues
Qualitative and Quantitative Relevant Information
One-Time-Only Special Orders
Potential Problems in Relevant-Cost Analysis
Short-Run Pricing Decisions
Relevant Costs for Short-Run Pricing Decisions
Strategic and Other Factors in Short-Run Pricing
Insourcing-Versus-Outsourcing and Make-or-Buy Decisions
Outsourcing and Idle Facilities
Strategic and Qualitative Factors
International Outsourcing
The Total Alternatives Approach
The Opportunity-Cost Approach
Carrying Costs of Inventory
Product-Mix Decisions with Capacity Constraints
Bottlenecks, Theory of Constraints, and Throughput-Margin Analysis
Customer Profitability and Relevant Costs
Relevant-Revenue and Relevant-Cost Analysis of Dropping a Customer
Relevant-Revenue and Relevant-Cost Analysis of Adding a Customer
Relevant-Revenue and Relevant-Cost Analysis of Closing or Adding Branch Offices or Business Divisions
Irrelevance of Past Costs and Equipment-Replacement Decisions
Decisions and Performance Evaluation
Problem for Self-Study
Solution
Decision Points
Appendix Linear Programming
Steps in Solving an LP Problem
Trial-and-Error Approach
Graphic Approach
Sensitivity Analysis
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
12 Strategy, Balanced Scorecard, and Strategic Profitability Analysis
Learning Objectives
Olive Garden wants to know
Barclays Turns to the Balanced Scorecard
What Is Strategy?
Building Internal Capabilities: Quality Improvement and Reengineering at Chipset
Strategy Implementation and the Balanced Scorecard
The Balanced Scorecard
Strategy Maps and the Balanced Scorecard
Strategy Maps
Structural Analysis of Strategy Maps
Four Perspectives of the Balanced Scorecard
Implementing a Balanced Scorecard
Different Strategies Lead to Different Scorecards
Environmental and Social Performance and the Balanced Scorecard
Features of a Good Balanced Scorecard
Pitfalls in Implementing a Balanced Scorecard
Evaluating the Success of Strategy and Implementation
Strategic Analysis of Operating Income
Growth Component of Change in Operating Income
Revenue Effect of Growth
Cost Effect of Growth
Price-Recovery Component of Change in Operating Income
Revenue Effect of Price Recovery
Cost Effect of Price Recovery
Productivity Component of Change in Operating Income
Further Analysis of Growth, Price-Recovery, and Productivity Components
Applying the Five-Step Decision-Making Framework to Strategy
Downsizing and the Management of Processing Capacity
Engineered and Discretionary Costs
Identifying Unused Capacity for Engineered and Discretionary Overhead Costs
Managing Unused Capacity
Problem for Self-Study
Solution
Decision Points
Appendix Productivity Measurement
Partial Productivity Measures
Evaluating Changes in Partial Productivities
Total Factor Productivity
Calculating and Comparing Total Factor Productivity
Using Partial and Total Factor Productivity Measures
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
13 Pricing Decisions and Cost Management
Learning Objectives
Most companies carefully analyze their input costs and the prices of their products
Extreme Pricing and Cost Management at IKEA1
Major Factors that Affect Pricing Decisions
Customers
Competitors
Costs
Weighing Customers, Competitors, and Costs
Costing and Pricing for the Long Run
Calculating Product Costs for Long-Run Pricing Decisions
Alternative Long-Run Pricing Approaches
Market-Based Approach: Target Costing for Target Pricing
Understanding Customers’ Perceived Value
Competitor Analysis
Implementing Target Pricing and Target Costing
Value Engineering, Cost Incurrence, and Locked-in Costs
Value-Chain Analysis and Cross-Functional Teams
Achieving the Target Cost per Unit for Provalue
Cost-Plus Pricing
Cost-Plus Target Rate of Return on Investment
Alternative Cost-Plus Methods
Cost-Plus Pricing and Target Pricing
Life-Cycle Product Budgeting and Costing
Life-Cycle Budgeting and Pricing Decisions
Managing Environmental and Sustainability Costs
Customer Life-Cycle Costing
Non-Cost Factors in Pricing Decisions
Price Discrimination
Peak-Load Pricing
International Pricing
Antitrust Laws and Pricing Decisions
The Supreme Court has not specified the “appropriate measure of costs.”9
Dumping
Collusive Pricing
Problem for Self-Study
Solution
Decision Points
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
14 Cost Allocation, Customer-Profitability Analysis, and Sales-Variance Analysis
Learning Objectives
Companies desperately want to make their customers happy
Delta Flies from Frequent Flyers to Big Spenders1
Customer-Profitability Analysis
Customer-Revenue Analysis
Customer-Cost Analysis
Customer-Level Costs
Customer-Profitability Profiles
Presenting Profitability Analysis
Using the Five-Step Decision-Making Process to Manage Customer Profitability
Cost-Hierarchy-Based Operating Income Statement
Criteria to Guide Cost Allocations
Fully Allocated Customer Profitability
Implementing Corporate and Division Cost Allocations
Issues in Allocating Corporate Costs to Divisions and Customers
Using Fully Allocated Costs for Decision Making
Sales Variances
Static-Budget Variance
Flexible-Budget Variance and Sales-Volume Variance
Sales-Mix Variance
Sales-Quantity Variance
Market-Share and Market-Size Variances
Market-Share Variance
Market-Size Variance
Problem for Self-Study
Solution
Decision Points
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
15 Allocation of Support-Department Costs, Common Costs, and Revenues
Learning Objectives
How a company allocates its overhead and internal support costs—costs related to information systems, production control, and other internal services—among its various production departments or projects can have a big impact on the profitability of those departments or projects
Cost Allocation and “Smart Grid” Energy Infrastructure1
Allocating Support Department Costs Using the Single-Rate and Dual-Rate Methods
Single-Rate and Dual-Rate Methods
Allocation Based on the Demand for (or Usage of) Materials-Handling Services
Single-Rate Method
Dual-Rate Method
Allocation Based on the Supply of Capacity
Advantages and Disadvantages of Single-Rate Method
Advantages and Disadvantages of Dual-Rate Method
Budgeted Versus Actual Costs and the Choice of Allocation Base
Budgeted Versus Actual Rates
Budgeted Versus Actual Usage
Fixed-Cost Allocation Based on Budgeted Rates and Budgeted Usage
Fixed-Cost Allocation Based on Budgeted Rates and Actual Usage
Allocating Budgeted Fixed Costs Based on Actual Usage
Allocating Costs of Multiple Support Departments
Direct Method
Step-Down Method
Reciprocal Method
Overview of Methods
Calculating the Cost of Job WPP 298
Allocating Common Costs
Stand-Alone Cost-Allocation Method
Incremental Cost-Allocation Method
Cost Allocations and Contract Disputes
Bundled Products and Revenue Allocation Methods
Bundling and Revenue Allocation
Stand-Alone Revenue-Allocation Method
Incremental Revenue-Allocation Method
Problem for Self-Study
Solution
Decision Points
Terms to Learn
Assignment Material
Questions
Exercises
Problems
16 Cost Allocation: Joint Products and Byproducts
Learning Objectives
Many companies, such as petroleum refiners, produce and sell two or more products simultaneously
Joint-Cost Allocation and the Wounded Warrior Project1
Joint-Cost Basics
Allocating Joint Costs
Approaches to Allocating Joint Costs
Sales Value at Splitoff Method
Physical-Measure Method
Net Realizable Value Method
Constant Gross-Margin Percentage NRV Method
Choosing an Allocation Method
Not Allocating Joint Costs
Why Joint Costs Are Irrelevant for Decision Making
Sell-or-Process-Further Decisions
Decision Making and Performance Evaluation
Pricing Decisions
Accounting for Byproducts
Production Method: Byproducts Recognized at Time Production Is Completed
Sales Method: Byproducts Recognized at Time of Sale
Problem for Self-Study
Solution
Decision Points
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
17 Process Costing
Learning Objectives
Many companies use mass-production techniques to produce identical or similar units of a product or service:
Haynes Suffers as Nickel Prices Drop1
Illustrating Process Costing
Case 1: Process Costing with No Beginning or Ending Work-in-Process Inventory
Case 2: Process Costing with Zero Beginning and Some Ending Work-in-Process Inventory
Summarizing the Physical Units and Equivalent Units (Steps 1 and 2)
Calculating Product Costs (Steps 3, 4, and 5)
Journal Entries
Case 3: Process Costing with Some Beginning and Some Ending Work-in-Process Inventory
Weighted-Average Method
First-In, First-Out Method
Comparing the Weighted-Average and FIFO Methods
Transferred-In Costs in Process Costing
Transferred-In Costs and the Weighted-Average Method
Transferred-In Costs and the FIFO Method
Points to Remember About Transferred-In Costs
Hybrid Costing Systems
Overview of Operation-Costing Systems
Illustrating an Operation-Costing System
Journal Entries
Problem for Self-Study
Solution
Decision Points
Appendix Standard-Costing Method of Process Costing
Benefits of Standard Costing
Computations Under Standard Costing
Accounting for Variances
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
18 Spoilage, Rework, and Scrap
Learning Objectives
When a product doesn’t meet specification but is subsequently repaired and sold, it is called rework.
Airbag Rework Sinks Honda’s Record Year1
Defining Spoilage, Rework, and Scrap
Two Types of Spoilage
Normal Spoilage
Abnormal Spoilage
Spoilage in Process Costing Using Weighted-Average and FIFO
Count All Spoilage
Five-Step Procedure for Process Costing with Spoilage
Weighted-Average Method and Spoilage
FIFO Method and Spoilage
Journal Entries
Inspection Points and Allocating Costs of Normal Spoilage
Job Costing and Spoilage
Job Costing and Rework
Accounting for Scrap
Recognizing Scrap at the Time of Its Sale
Scrap Attributable to a Specific Job
Scrap Common to All Jobs
Recognizing Scrap at the Time of Its Production
Scrap Attributable to a Specific Job
Scrap Common to All Jobs
Problem for Self-Study
Solution
Decision Points
Appendix Standard-Costing Method and Spoilage
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
19 Balanced Scorecard: Quality and Time
Learning Objectives
To satisfy ever-increasing customer expectations, managers at companies such as General Electric, Sony, Texas Instruments, and Toyota find cost-effective ways to continuously improve the quality of their products and services and shorten response times.
Toyota Plans Change After Millions of Defective Cars Are Recalled1
Quality as a Competitive Tool
The Financial Perspective: The Costs of Quality
Using Nonfinancial Measures to Evaluate and Improve Quality
The Customer Perspective: Nonfinancial Measures of Customer Satisfaction
The Internal-Business-Process Perspective: Analyzing Quality Problems and Improving Quality
Control Charts
Pareto Diagrams
Cause-and-Effect Diagrams
Six Sigma Quality
Nonfinancial Measures of Internal-Business-Process Quality
The Learning-and-Growth Perspective: Quality Improvements
Weighing the Costs and Benefits of Improving Quality
Evaluating a Company’s Quality Performance
Time as a Competitive Tool
Customer-Response Time and On-Time Performance
Bottlenecks and Time Drivers
Relevant Revenues and Costs of Delays
Balanced Scorecard and Time-Based Measures
Problem for Self-Study
Solution
Decision Points
Terms to Learn
Assignment Material
Questions
Multiple-Choice Questions
Exercises
Problems
20 Inventory Management, Just-in-Time, and Simplified Costing Methods
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