Premium Essay

Solution Manual to Introduction to Management

In: Business and Management

Submitted By krixxy
Words 2262
Pages 10
Problem 1-14B (45 minutes)

1.
| |House Of Pianos, Inc. |
| |Traditional Income Statement |
| |For the Month Ended September 30 |
| | | | |
| |Sales (60 pianos × $3,300 per piano) | |$198,000 |
| |Cost of goods sold | | 89,520 |
| |(60 pianos × $1,492 per piano) | | |
| |Gross margin | |108,480 |
| |Selling and administrative expenses: | | |
| |Selling expenses: | | |
| |Advertising |$ 955 | |
| |Delivery of pianos |3,660 | |
| |(60 pianos × $61 per piano) | | |
| |Sales salaries…...

Similar Documents

Free Essay

Manual Financial Management

...make sure that the Bluetooth/Wireless LAN modules are powered off. V Preface IMPORTANT SAFETY INSTRUCTIONS Follow basic safety precautions, including those listed below, to reduce the risk of fire, electric shock, and injury to persons when using any electrical equipment: 1. 2. 3. 4. 5. Do not use this product near water, for example near a bath tub, wash bowl, kitchen sink or laundry tub, in a wet basement or near a swimming pool. Avoid using this equipment with a telephone line (other than a cordless type) during an electrical storm. There may be a remote risk of electrical shock from lightning. Do not use the telephone to report a gas leak in the vicinity of the leak. Use only the power cord and batteries indicated in this manual. Do not dispose of batteries in a fire. They may explode. Check with local codes for possible special disposal instructions. This product is intended to be supplied by a Listed Power Unit: Models A&B - Full Range AC/DC Adapter - AC Input 100 - 240V, 50 - 60Hz, DC Output 19V, 1.58A (30W) minimum. • Model C (Model B for E-350 APUs Only) - Full Range AC/DC Adapter - AC Input 100 - 240V, 50 - 60Hz, DC Output 19V, 3.42A or 18.5V, 3.5A (65W) minimum. • This Computer’s Optical Device is a Laser Class 1 Product VI Preface Instructions for Care and Operation The notebook computer is quite rugged, but it can be damaged. To prevent this, follow these suggestions: 1. Don’t drop it, or expose it to shock. If the computer falls,......

Words: 34196 - Pages: 137

Premium Essay

Audit Chapter 8 Solutions Manual

...Solutions for Chapter 8 Tools to Gather Audit Evidence Review Questions: 8-1. The three main tools the auditor might use in gathering and evaluating audit evidence are: • Audit sampling • Generalized Audit Software • Analytical procedures 8-2. Non-sampling risk is the risk that the auditor makes an improper assessment of inherent and/or control risk or did not apply audit procedures carefully. It can be minimized through: (1) Good hiring, training and supervision practices; and (2) Careful and knowledgeable review of audit documentation and audit procedures. Sampling risk is the risk that the misstatement projections based on the sample results lead to the wrong conclusion about the population because of a non-representative sample. Sampling risk can be reduced by increasing the sample size – to the extreme of auditing the entire population therefore eliminating sampling risk altogether. 8-3. Factors to consider when choosing between statistical and nonstatistical sampling include: • Need to quantify and control sampling risks. • Additional cost of designing, selecting, and evaluating a statistical sample. • Availability of computer software to assist in designing, selecting, and/or evaluating the sample. • Ability of the audit staff to properly implement statistical sampling. 8-4. a. Tolerable deviation rate depends on the significance of the control procedure being......

Words: 11678 - Pages: 47

Premium Essay

Solution Manual Gitman

...Principles of Managerial Finance Solution Lawrence J. Gitman PART 1 Introduction to Managerial Finance CHAPTERS IN THIS PART 1 2 3 The Role and Environment of Managerial Finance Financial Statements and Analysis Cash Flow and Financial Planning INTEGRATIVE CASE 1: TRACK SOFTWARE, INC. CHAPTER 1 The Role and Environment of Managerial Finance INSTRUCTOR’S RESOURCES Overview This chapter introduces the student to the field of finance and explores career opportunities in both financial services and managerial finance. The three basic legal forms of business organization (sole proprietorship, partnership, and corporation) and their strengths and weaknesses are described, as well as the relationship between major parties in a corporation. The managerial finance function is defined and differentiated from economics and accounting. The chapter then summarizes the three key activities of the financial manager: financial analysis and planning, investment decisions, and financing decisions. A discussion of the financial manager's goals – maximizing shareholder wealth and preserving stakeholder wealth – and the role of ethics in meeting these goals is presented. The chapter includes discussion of the agency problem – the conflict that exists between managers and owners in a large corporation. Money and capital markets and their major components are introduced in this chapter. The final section covers a discussion of the impact of taxation on the firm's......

Words: 5096 - Pages: 21

Premium Essay

Solution Manual

...CHAPTER 1 INTRODUCTION TO COST AND MANAGEMENT ACCOUNTING IN A GLOBAL BUSINESS ENVIRONMENT MULTIPLE CHOICE 1. In comparing financial and management accounting, which of the following more accurately describes management accounting information? a. historical, precise, useful b. required, estimated, internal c. budgeted, informative, adaptable d. comparable, verifiable, monetary ANSWER: c EASY 2. Management and financial accounting are used for which of the following purposes? Management accounting Financial accounting a. internal external b. external internal c. internal internal d. external external ANSWER: a EASY 3. One major difference between financial and management accounting is that a. financial accounting reports are prepared primarily for users external to the company. b. management accounting is not under the jurisdiction of the Securities and Exchange Commission. c. government regulations do not apply to management accounting. d. all of the above are true. ANSWER: d EASY 4. Which of the following statements about management or financial accounting is false? a. Financial accounting must follow GAAP. b. Management accounting is not subject to regulatory reporting standards. c....

Words: 4206 - Pages: 17

Premium Essay

Solution Manual

...Database Modeling and Design – 4th Edition (2006) Toby Teorey, Sam Lightstone, Tom Nadeau Exercises with Solutions – Solutions Manual ER and UML Conceptual Data Modeling Problem 2-1 Draw a detailed ER diagram for an car rental agency database (e.g. Hertz), keeping track of current rental location of each car, its current condition and history of repairs, and customer information for a local office, expected return date, return location, car status (ready, being-repaired, currently-rented, being-cleaned). Select attributes from your intuition about the situation, and list them separately from the diagram, but associated with a particular entity or relationship in the ER model. Solution to 2-1 Problem 2-2 Given the following assertions for a relational database that represents the current term enrollment at a large university, draw an ER diagram for this schema that takes into account all the assertions given. There are 2000 instructors, 4000 courses, and 30,000 students. Use as many ER constructs as you can to represent the true semantics of the problem. Assertions: An instructor may teach one or more courses in a given term (average is 2.0 courses). An instructor must direct the research of at least one student (average = 2.5 students). A course may have none, one, or two prerequisites (average = 1.5 prerequisites). A course may exist even if no students are currently enrolled. All courses are taught by exactly one......

Words: 3109 - Pages: 13

Premium Essay

Solution Manual Ch 1 Cost Management and Strategy

...CHAPTER 1: COST MANAGEMENT AND STRATEGY EXERCISES 1-24 Strategy; Real Estate Services (15 min) This exercise can be used to provide a good perspective for the students to see the role of cost management in solving business issues, and in placing the management accountant in more of a leadership role in the firm. It also provides an early motivation for the cost behavior issues to be discussed later in chapter 3 and chapter 8. The management accountant has a hunch that the company is about to take on a potentially damaging strategic initiative. This is a great opportunity to begin to play more of a strategic role in the company. The first step should be to obtain the relevant information about projected revenues and costs and do a careful analysis of the likely profitability of developing the new, smaller customers. Here’s how the case might be used in a class discussion. First, ask the class to identify the types of costs likely to be incurred by this company in providing its service. The answers are likely to include labor costs and materials for cleaning and maintenance, in addition to costs for maintaining the firm’s office. As these examples are given, put them on the chalkboard and collect 6 or 8 of them. Then, ask how each of these costs might differ between large and small customers. For example, the cost of cleaning labor and materials will likely be somewhat proportional to the square feet of space each customer occupies, so that cost projections...

Words: 2779 - Pages: 12

Premium Essay

Introduction to Management

...Introduction First of all we would like to thank our honorable faculty Miss Tasnim Rezoana Tanim (TRT) for giving us the opportunity to present our report in MGT210 course. There are several renowned companies in our country. Many have been internationally acclaimed and many are growing slowly but steadily towards the peak of success and has the potential to become market leaders in their own field. We decided that we would report on such a company that is becoming a mammoth in its area. The company would be Mahin Group that we will cover in this project. We tried to be descriptive and accurate about the facts and figures as much as possible. Hopefully, this project report will give you a bright idea about the company; its structure and the things it is striving for. Our project report will contain the company background, details of management process (managerial functions and skills), analysis and recommendations that would further improve the management process in the company. Organizational Background Mahin Group has started its modest journey back in 1994 with the inception of Mahin Apparels Ltd. in Mirpur, Dhaka. Before passing of a decade, it showed remarkable growth, under an efficient and dynamic management, by expanding into a 100% export oriented fabric and garments manufacturing company. Over the years, it has developed in-house facilities in terms of packaging, washing and printing. The main achievement of the company is its state-of-the-art......

Words: 7995 - Pages: 32

Premium Essay

Solution Manaual of Operations Management

...AND READ SOLUTION MANUAL OPERATIONS MANAGEMENT 10TH EDITION PDF at www.manualstack.com SOLUTION MANUAL OPERATIONS MANAGEMENT 10TH EDITION PDF SOLUTION-MANUAL-OPERATIONS-MANAGEME.PDF © COPYRIGHT WWW.MANUALSTACK.COM DISCLAIMER: WWW.MANUALSTACK.COM have the following Answers For Solution Manual Operations Management 10th Edition Pdf available for free PDF download. You may find another document such as Engineering Management Robbins 10th Edition, PDF FILE : SOLUTION MANUAL OPERATIONS MANAGEMENT 10TH EDITION PDF Page : 1 DOWNLOAD AND READ SOLUTION MANUAL OPERATIONS MANAGEMENT 10TH EDITION PDF at www.manualstack.com Cases In Strategic Management 10th Edition Pdf , Operations Management Collier And Evans Solution Manual, Operations Management Russell And Taylor 7th Solution Manual, Operations Management Heizer And Render Solution Manual, Fundamentals Of Human Resource Management 10th Edition, Investments Analysis Management 10th Edition Jones, Fundamentals Of Financial Management 10th Edition Answers, Fundamentals Of Financial Management Brigham 10th Edition, Theory Of Strategic Management With Cases 10th Edition, . PDF FILE : SOLUTION MANUAL OPERATIONS MANAGEMENT 10TH EDITION PDF Page : 2 DOWNLOAD AND READ SOLUTION MANUAL OPERATIONS MANAGEMENT 10TH EDITION PDF at www.manualstack.com SOLUTION MANUAL OPERATIONS MANAGEMENT 10TH EDITION PDF . Solution Manual Operations Management 10th Edition Pdf can be very useful guide, and solution manual operations management 10th......

Words: 1992 - Pages: 8

Premium Essay

Solution Manual

...The company should concentrate its labor time on producing product X: | |X |Y |Z | |Contribution margin per direct labor-hour |P12 |P9 |P10 | |Direct labor-hours available |× 3,000 |× 3,000 |× 3,000 | |Total contribution margin |P36,000 |P27,000 |P30,000 | Although product X has the lowest contribution margin per unit and the second lowest contribution margin ratio, it has the highest contribution margin per direct labor-hour. Since labor time seems to be the company’s constraint, this measure should guide management in its production decisions. Requirement 3 The amount Jaycee Company should be willing to pay in overtime wages for additional direct labor time depends on how the time would be used. If there are unfilled orders for all of the products, Jaycee would presumably use the additional time to make more of product X. Each hour of direct labor time generates P12 of contribution margin over and above the usual direct labor cost. Therefore, Jaycee should be willing to pay up to P20 per hour (the P8 usual wage plus the contribution margin per hour of P12) for additional labor time, but would of course prefer to pay far less. The upper limit of P20 per direct labor hour signals to managers how valuable additional labor hours......

Words: 3314 - Pages: 14

Premium Essay

Introduction to Management

...Why do organization bring in outside consultant to manage the organizational change process ? Change management is essential for organizational development in dynamic environment. Any change is likely to be resisted by the employees, if their confidence in the organizational system evaporate. The role of external change agent is to establish the faith and confidence of the employees on the organizational management system, as a first step. Effective change management depends on absorptive capacity of the organization and adaptive skill of the employees. The same may  be assessed and suitable measures may be suggested by the external change agent. Further organizational architecture and agility are important factors in quick decision making and adaptation to change. The external change management agent may study and suggest the suitable measures for improvement. Introduction to change management Change is only permanent feature of our life. Life of individuals and organizations are evolving ever since their creation. Modern companies are in a state of cultural change. From working more or less alone to solving specific tasks, we are now required to work in an interdependent way. Teamwork is vital. These changes require that we change what we expect from the co workers. We have to change the values we highly believe. Values like awareness, teamwork, tolerance, responsibility and information are paramount - just as flexibility and change readiness. Team work make in......

Words: 4458 - Pages: 18

Premium Essay

Auditing Eilifsen Solutions Manual

...CHAPTER 1 AN INTRODUCTION TO ASSURANCE AND FINANCIAL STATEMENT AUDITING Answers to Review Questions 1-1 The study of auditing is more conceptual in nature compared to other accounting courses. Rather than focusing on learning the rules, techniques, and computations required to prepare financial statements, auditing emphasizes learning a framework of analytical and logical skills to evaluate the relevance and reliability of the systems and processes responsible for financial information, as well as the information itself. To be successful, students must learn the framework and then learn to use logic and common sense in applying auditing concepts to various circumstances and situations. Understanding auditing can improve the decision making ability of consultants, business managers, and accountants by providing a framework for evaluating the usefulness and reliability of information. 1-2 There is a demand for auditing in a free-market economy because the agency relationship between an absentee owner and a manager produces a natural conflict of interest due to the information asymmetry that exists between the owner and manager. As a result, the agent agrees to be monitored as part of his/her employment contract. Auditing appears to be a cost-effective form of monitoring. The empirical evidence suggests auditing was demanded prior to government regulation such as statutory audit requirements. Additionally, many private companies and other entities not......

Words: 26005 - Pages: 105

Free Essay

Introduction to Management

...1 Introduction to Management and Organizations 3. What Is Management? 4. What Do Managers Do? 5. Evolution of Management 6. Why study Management? 1 What Is An Organization? 2 Characteristics of Organizations • An Organization Defined –A deliberate arrangement of people to accomplish some specific purpose (that individuals independently could not accomplish alone). 3 Who Are Managers? 4 Classifying Managers • Manager –Someone who coordinates and oversees the work of other people so that organizational goals can be accomplished. • First-line Managers – Individuals who manage the work of non-managerial employees. • Middle Managers – Individuals who manage the work of first-line managers. • Top Managers – Individuals who are responsible for making organization-wide decisions and establishing plans and goals that affect the entire organization. 5 6 What Is Management? Classifying Managers • Managerial Concerns –Efficiency • “Doing things right” –Getting the most output for the least inputs –Effectiveness • “Doing the right things” –Attaining organizational goals 7 8 What Do Managers Do? Exhibit 1–2 Effectiveness and Efficiency in Management 9 Managerial Roles 10 What Managers Actually Do • Interaction – with others – with the organization – with the external context of the organization • Reflection – thoughtful thinking • Action – practical doing • Management......

Words: 9830 - Pages: 40

Premium Essay

Finance Solution Manual

... 4. Explain why maximizing the current value of the firm’s stock price is the appropriate goal for management. 5. Discuss how agency conflicts affect the goal of maximizing stockholder wealth. 6. Explain why ethics is an appropriate topic in the study of corporate finance. I. Chapter Outline 1.1 The Role of the Financial Manager A. It’s All about Cash Flows • The financial manager is responsible for making decisions that are in the best interest of the firm’s owners. • A firm generates cash flows by selling the goods and services produced by its productive assets and human capital. After meeting its obligations, the firm can pay the remaining cash, called residual cash flows, to the owners as a cash dividend, or it can keep the money and reinvest the cash in the business. • A firm is unprofitable when it fails to generate sufficient cash flows to pay operating expenses, creditors, and taxes. Firms that are unprofitable over time will be forced into bankruptcy by their creditors. In bankruptcy, the company will be reorganized, or the company’s assets will be liquidated, whichever is more valuable. If anything is left after all creditor and tax claims have been satisfied, which usually does not happen, the remaining cash, or residual, is distributed to the owners. B. Three Fundamental Decisions in Financial Management • The capital budgeting decision: Which productive assets should the firm buy? This......

Words: 7130 - Pages: 29

Premium Essay

Solution Manuals

...Management Accounting: Information for Decision-Making and Strategy Execution - 6.Edition - 2012 Anthony A. Atkinson, Robert S. Kaplan Pearson I have both Solution Manulas And Test Banks Of this Book Contact  ahad2030@yahoo.com Chapter 1 How Management Accounting Information Supports Decision Making QUESTIONS 1-1 Management accounting is a discipline that designs planning and performance measurement systems, using financial and nonfinancial information, to help an organization develop and implement its strategy. The information must be relevant and helpful, and customized to serve multiple purposes, such as making decisions, allocating resources, and monitoring, evaluating, and rewarding performance. Information for the “plan” and “do” steps of the PDCA cycle includes prospective data on costs, profits, efficiency, and quality associated with alternative ways to produce or provide goods or services. Information for the “check” and “act” steps includes assessments of how well the organization is achieving its objectives. Common information requirements include measures of cost, quality, profitability, and timeliness. 1-2 A company’s operators, managers, and executives need information for their operational control and improvement activities, as well as on the performance of their individual processes, products, services, and customers. This information is important to direct managers’ attention to areas where improvement is needed, to provide......

Words: 7550 - Pages: 31

Free Essay

Introduction to Management

...Describe and evaluate the key elements of Frederick Taylor's approach to 'scientific management' and comment on its applicability in contemporary organisations. (You might select a particular industry or occupational area for this analysis). Scientific management is represented as the priority of task efficiency over the minimal socio-interaction between labourers through the segregation via skill elements (Littler, 1978). Frederick Taylor (1856-1915) describes the role of a worker to instinctively follow orders and execute them with minuscule aspects, without excessive wastage of resources (Bratton, et al., 2010). The contemporary organizations in our society are that which has abolished the traditional configuration and orientates information throughout the entire organisation, thus minimizing reaction time to various stimuli (L, 2012). As technology improves, ease of communication and transport has significantly reduced lag time between processes and so creates the importance of the service industry. The key elements of Taylor’s approach still applies in such organisations despite the many changes in the workplace, however, these have been modified and consequently evolved to suit the different needs and environments these organisations face. The core context of Taylor’s view on scientific management is the segregation of job responsibilities. Given the many processes it takes for a complete product to be transferred from being raw materials to the hands of the......

Words: 1932 - Pages: 8