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Solution Manual for Managerial Accounting 11th Edition By Ray Garrison, Eric Noreen and Peter Brewer 2024 $17.99   Add to cart

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Solution Manual for Managerial Accounting 11th Edition By Ray Garrison, Eric Noreen and Peter Brewer 2024

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  • Solution Manual For Managerial

Solution Manual for Managerial Accounting 11th Edition By Ray Garrison, Eric Noreen and Peter Brewer 2024

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  • October 14, 2024
  • 914
  • 2024/2025
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  • 11thedition
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  • Solution Manual For Managerial
  • Solution Manual For Managerial
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bonie314
Solution Manual t




Managerial Accounting t




by ffiarrison Noreen



Uploaded by t




Mudassar Hassan t




University of Sargodha
t t

,Chapter 1 t




Managerial Accounting and the Business t t t t




Environment
t




Solutions to Questions t t




1-1 Managerial accounting is concerned with t t t t from making one product to making another al-
t t t t t t t


providing information to managers for use within
t t t t t t t lows the company to respond more quickly to cus-
t t t t t t t t t


the organization. Financial accounting is con-
t t t t t t tomers. Finally, smaller batches make it easier to
t t t t t t t t


cerned with providing information to stockholders,
t t t t t t spot manufacturing problems before they result ina
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creditors, and others outside of the organization.
t t t t t t t large number of defective units.
t t t t t




1-2 Essentially, managers carry out three ma- t t t t t 1-7 The main benefits of a successful JIT sys- t t t t t t t


tjor activities in an organization: planning, directing
t t t t t t tem are reductions in: (1) funds tied up in inven-
t t t t t t t t t t


and motivating, and controlling. All three activities
t t t t t t t tories; (2) space requirements; (3) throughput
t t t t t t


involve decision making.
t t t time; and (4) defects.
t t t t




1-3 The Planning and Control Cycle involves t t t t t 1-8 TQM generally approaches improvement t t t


formulating plans, implementing plans, measuring
t t t t t in a series of small steps that are planned and im-
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performance, and evaluating differences between
t t t t t plemented by teams of front-line workers. Process
t t t t t t t


planned and actual performance.
t t t t Reengineering involves completely redesigning
t t t t


business processes from the ground up—often
t t t t t t

1-4 A line position is directly related to the t t t t t t t with the use of outside consultants.
t t t t t t

achievement of the basic objectives of the organi-
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zation. A staff position is not directly related to the
t t t t t t t t t t 1-9 If Process Reengineering is successful,t t t t


achievement of those objectives; rather, it is sup-
t t t t t t t t fewer workers are needed. If management re-
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portive, providing services and assistance to other
t t t t t t t sponds by laying off workers, morale will almost
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parts of the organization.
t t t t certain suffer.
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1-5 In contrast to financial accounting, mana- t t t t t 1-10 Some benefits from improvement efforts t t t t


gerial accounting: (1) focuses on the needs of the
t t t t t t t t t come from cost reductions, but the primary bene-
t t t t t t t t


manager; (2) places more emphasis on the future;
t t t t t t t t fit is often an increase in capacity. At non-con-
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(3) emphasizes relevance and flexibility, rather
t t t t t straints, increases in capacity just add to the al-
t t t t t t t t t

than precision; (4) emphasizes the segments of an
t t t t t t t t ready-existing excess capacity. Therefore, im-
t t t t t

organization; (5) is not governed by GAAP; and
t t t t t t t t provement efforts should ordinarily focus on the
t t t t t t t

(6) is not mandatory. t t constraint.
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1-6 A number of benefits accrue from reduced t t t t t t 1-11 If people generally did not act ethically in
t t t t t t t

setup time. First, reduced setup time allows a
t t t t t t t t tbusiness, no one would trust anyone else and t t t t t t t

company to produce in smaller batches, which in
t t t t t t t t tpeople would be reluctant to enter into business
t t t t t t t

turn reduces the level of inventories. Second, re-
t t t t t t t t ttransactions. The result would be less funds raised t t t t t t t

duced setup time allows a company to spend more
t t t t t t t t t in capital markets, fewer goods and services avail-
t t t t t t t t

time producing goods and less time getting ready
t t t t t t t t able for sale, lower quality, and higher prices.
t t t t t t t t

to produce. Third, the ability to rapidly change
t t t t t t t t




© The McGraw-Hill Companies, Inc., 2006.
t t t t t



Solutions Manual, Chapter 1 t t t 1

,Uploaded by t Mudassar Hassan
t




Exercise 1-1 (10 minutes)
t t t




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
t t t




9. Feedback
10. Controller
11. Performance report t




12. Chief Financial Officer
t t




© The McGraw-Hill Companies, Inc., 2006. All rights reserved.
t t t t t t t t



2 Managerial Accounting, 11th Edition
t t t

, Exercise 1-2 (10 minutes)
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1. Total quality management; Process reengineering
t t t t




2. Just-In-Time
3. Nonconstraint
4. Benchmarking
5. Setup
6. Constraint
7. Non-value-added activities t




8. Business process t




© The McGraw-Hill Companies, Inc., 2006. All rights reserved.
t t t t t t t t



Solutions Manual, Chapter 1
t t t 3

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