Identifying Cost Management Information System Objectives Consider the following actions associated with a cost management information system: Select the appropriate objectives for each of the following actions of a cost management information system: Required: a. Eliminating a non-value-added activity Planning and control b. Determining how much it costs to perform a heart transplant Costing of service c. Calculating the cost of inspecting components from an outside supplier Costing of product/activity d. Developing and using a budgeted income statement for a division Planning and control e. Eliminating the need to inspect by improving the quality of products and processes Planning and control f. Determining whether selling a product at split-off is more profitable than processing it further before selling it Decision making g. Calculating the cost of producing an e-book Costing of product h. Using a trend report on quality costs to assess the effectiveness of a quality improvement program Planning and control i. Determining the units that must be sold to break even Decision making j. Calculating the cost to perform a tooth extraction Costing of service k. Determining the total cost of moving goods Costing of an activity l. Using JIT purchasing and manufacturing to significantly reduce inventories Planning and control m. Using unit product cost to help develop a bid price Decision making

Each month, business today publishes a news piece about an innovative product, service, or business. such soft news is generally written by a freelance business writer and is known as a

< back to assignment attempts: 1 1 keep the highest: 1 / 2 2. determining opportunity cost juanita is deciding whether to buy a suit that she wants, as well as where to buy it. three stores carry the same suit, but it is more convenient for juanita to get to some stores than others. for example, she can go to her local store, located 15 minutes away from where she works, and pay a marked-up price of $102 for the suit: store travel time each way price of a suit (minutes) (dollars per suit) local department store 15 102 across town 30 88 neighboring city 60 65 juanita makes $42 an hour at work. she has to take time off work to purchase her suit, so each hour away from work costs her $42 in lost income. assume that returning to work takes juanita the same amount of time as getting to a store and that it takes her 30 minutes to shop. as you answer the following questions, ignore the cost of gasoline and depreciation of her car when traveling. complete the following table by computing the opportunity cost of juanita's time and the total cost of shopping at each location. store opportunity cost of time price of a suit total cost (dollars) (dollars per suit) (dollars) local department store 102 across town 88 neighboring city 65 assume that juanita takes opportunity costs and the price of the suit into consideration when she shops. juanita will minimize the cost of the suit if she buys it from the . grade it now save & continue continue without saving

The following items could appear on a bank reconciliation: a. outstanding checks, $670. b. deposits in transit, $1,500. c. nsf check from customer, no. 548, for $175. d. bank collection of note receivable of $800, and interest of $80. e. interest earned on bank balance, $20. f. service charge, $10. g. the business credited cash for $200. the correct amount was $2,000. h. the bank incorrectly decreased the business's by $350 for a check written by another business. classify each item as (1) an addition to the book balance, (2) a subtraction from the book balance, (3) an addition to the bank balance, or (4) a subtraction from the bank balance.