Management accounting information:Single choice
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Please answer the following questions[Fill in the blank] Tiana runs a small business making specialty occasion cakes for corporate events, weddings, and milestone birthdays. She has operated the business successfully for eight years but evaluates performance based only on profit. In your own words, briefly explain the focus of each of the four Balanced Scorecard perspectives and suggest one performance measure Jordan could use in her business for each perspective.[Fill in the blank] Bloom Florists is a flower shop with three divisions: Cut Flowers, Potted Plants, and Gift Arrangements. The owner is considering stopping the Cut Flowers division as it appears unprofitable. If Cut Flowers is stopped, all its divisional costs are eliminated. Common costs remain. [table] | Cut Flowers | Potted Plants | Gift Arrangements | Total Revenue | 18,000 | 62,000 | 98,000 | 178,000 Divisional Costs | (20,000) | (42,000) | (74,000) | (136,000) Divisional Contribution | (2,000) | 20,000 | 24,000 | 42,000 Common Costs | (10,000) | (10,000) | (10,000) | (30,000) Profit | (12,000) | 10,000 | 14,000 | 12,000 [/table] Required: Advise whether to stop selling Cut Flowers. Would your answer change if $6,000 of the $20,000 divisional costs of Cut Flowers could not be eliminated after stopping? Justify with relevant figures.[Fill in the blank] Bloom Florists is a flower shop with three divisions: Cut Flowers, Potted Plants, and Gift Arrangements. The owner is considering stopping the Cut Flowers division as it appears unprofitable. If Cut Flowers is stopped, all its divisional costs are eliminated. Common costs remain. [table] | Cut Flowers | Potted Plants | Gift Arrangements | Total Revenue | 18,000 | 62,000 | 98,000 | 178,000 Divisional Costs | (20,000) | (42,000) | (74,000) | (136,000) Divisional Contribution | (2,000) | 20,000 | 24,000 | 42,000 Common Costs | (10,000) | (10,000) | (10,000) | (30,000) Profit | (12,000) | 10,000 | 14,000 | 12,000 [/table] Required: Comment on how common costs have been allocated across the three divisions. Raise at least one question you would want to ask about the allocation.[Fill in the blank] Amara is considering starting a mobile coffee van business. She has researched the local market and completed a break-even analysis, which shows she would need to sell 160 cups of coffee per day to break even; a volume she cannot achieve on her own. Provide three suggestions to help Amara make the break-even point more achievable. Each suggestion must be specific to her coffee van business and must include one possible negative consequence.[Fill in the blank]
Which of the following statements about Management Accounting and Financial Accounting are TRUE? Management Accounting focuses on providing information about the firm to managers within the firm; while Financial Accounting focuses on providing information about the firm to users who are external to the firm. Management Accounting information is more future-oriented than Financial Accounting information. Both Management Accounting and Financial Accounting information must be prepared in accordance with accounting standards and Generally Accepted Accounting Principles (GAAP).
Management accounting information is reported in what units?
The term teratogenic means what?
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