Management Assignment #3: DQ(B)

DUE DATE: March 20th (20:00 EST)!!

PROMPT: 

How would a restaurant use the 5 S program/method?  How would it apply to a operating room in a hospital? (SEE BELOW REQUIREMENTS!). 

REQUIREMENTS:

An appropriate-length response to the Forum questions should be between 450 and 500 words and should include a minimum of three scholarly or professional sources per question in order to receive full points. Students are encouraged to review the articles, etc. used by fellow students. Students are cautioned to follow APA guidelines to receive full points. 

Assignment should meet professional standards in content, punctuation/writing style and APA guidelines for citation of sources and should run approximately 450-500 words.

Several criteria must be met in order to receive full credit: 

– They relate directly to the assigned topic and contribute new information to build our understanding of the concepts. 

– They develop the point with examples and appropriately documented research, exhibit sound research skills employing various tools and library resources such as surveys, Internet, databases. Wikipedia is NOT a valid source.

– They contain original thought- synthesizing information. Do not simply copy material from another source. 

– They are written clearly and correctly and follow proper APA citation rules with a minimum of 3 professional business or peer-reviewed sources other than the text.

 

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Management Accounting / Managerial Accounting

What did you have for lunch today? Applying Absorption & Variable Costing Method, specify some examples of the costs (SGD) involved in producing the lunch

(from vendor’s viewpoint), what goes into the calculation of the product cost under each method & how the product cost for your lunch will differ under the 2 methods.

Please provide me with details and clear explanation.

 

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Hello

I need help with figuring out what exactly goes in the Manufacturing overhead part.

The 8 things that goes in the “Title” area.

I figured out 7 out of 8. I am not sure what’s the last thing that goes there.

• Attachment 1
• Attachment 2

Managerial Accounting – Spring 2019 – Lab 2 , chapter 3Excel Computer Problem*The following data refer to Miller Widget Company for the year 20 x1 .Work – in – process inventory , 12/31 / x0 ….$ 10, 100Work – in – process inventory , 12/31 / x ] ……10,000Finished – goods inventory , 12/31 / x0 ……Raw – material inventory , 12/31 / 40 …..10, 1010Raw – material inventory , 12/31 /’x ] . ……………. .. "1 1, 000Finished – goods inventory , 12 / 31 / x1 ….15, 400Purchases of raw material in 20 x1 .35, 000Indirect material used …..Indirect- labor cost incurred ..24, 000Direct- labor cost incurred ….19, 000Selling and administrative Salaries ………13, BOOInsurance on factory and Equipment ………… … . . . . .3. 600Depreciation on factory Equipment ..2, 100Property taxes on factory ..`3, 400Utilities for factory …..5,000" " "Utilities for sales and administrative offices …..2.5010Other selling and administrative expenses ….4,000Depreciation on factory building ……3, 800Depreciation on cars used by sales personnel ……….2, 200Rental For warehouse space to store raw material ………3, 100Rental of space for company president’s office . … …. ….1 , 500Applied manufacturing overhead ..58, 000Sales revenue .`205, 800Income tax expense .5, 100Hequired :1 . Prepare the Company’s schedule of cost of goods manufactured for 20×1 . Note : Input appliedoverhead before calculating over or under – applied overhead .2. Prepare the company’s schedule of cost of goods sold for 20×1 . The company closes overapplied orunderapplied overhead into Cost of Goods Sold .3. Prepare the company’s income statement for 20*’1

 

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DO MY DISCUSSION AND RESPOND TO MARVIS AND CYNTHIAS DISCUSSIONS POSTS NO SPECIFIC WORD COUNT.

Read the journal article, “Executive Information Systems: Their impact on Executive Decision Making”. Based on the information presented in the article, discuss the following:

• The tools executive managers use when making major decisions
• The relationship between the tools the executive managers’ use and the managers’ tasks
• The reasons for using the support tools

Guided Response: Respond to at least two of your classmates’ posts. Analyze their discussions by agreeing, disagreeing, or adding other ideas to strengthen or enhance the perspective presented in their initial posts.

REPLY TO MARVIS:

Marvis Nicholson

Wednesday Aug 30 at 4:16am

Manager’s Decision Support Tools

This week’s article was quite interesting. The key factor was to develop an understanding of Executive Information Systems. According to the article, executive information system is a computer based to that is supposed to assist management in the management activities and decision making process.

EIS executive managers use when making major decisions – According to the article, these can vary in sophistication. However, the basic result is the same which is assisting in the decision making process. This tool has a focus on the daily operations of the organization as well as information on competitors. The old approach was more required computer base interface which allowed for users to burrow down into the data. The EIS tool if focused on decision making and problem solving. It allows executive management to analyze and locate trends and locate key variables.

Relationship between the tools the executive managers’ use and the managers’ tasks

The tool allows upper-level executives to create more informed planning to provide to management under them to be more successful.  The variables and data allow from more informed planning and strategies to reach organizational goals by lower levels of management.  The process allows for information to be retrieved more times and distributed to lower level management.  The information that is provided to the manager’s has more clarity which assist in the level of success achieved.  The process allows the managers to process and provide information that can be easily tracked by executive management as well

The reasons for using the support tools

The main reasons for utilizing EIS tools are due to the increase in competitiveness at the economic level. These tools are very instrumental in the  acceleration of decision making

process when situations arise. The fact that so much information is available is beneficial because it assist  the decision makers in the organization within the company to stay on track and focused.  The tool is also instrumental because the information is retrieved from various departments which allows management to be able to  identify the root  of issues and take actions  to correct the errors encountered.

REPLY TO CYNTHIA:

Cynthia Culbertson

Saturday Sep 2 at 11:46am

The reading of “Executive Information Systems: Their Impact on Executive Decision Making”, I found that there were two tools use the “EIS and the DSS”. The decision making process is one of the most vital roles of an executive. The use of dependable information sources is the key component of administrative decision-making. References of information can be oral, written, or computer-based. The computer-based knowledge are found to be the least studied in the context of executive decision making since executives tend to use other managers and their own premonition. as their primary information informant. Although, the emergence of the computer-based that are right for the use by decision-makers enables an examination of how the executive use this type of information system affects the executives’ “decision-making process. Systems hereafter, mention to as executive information systems (EIS) are computer-based information systems that are designed to allow a senior leader access to information relevant to his or her management ventures. The new era of philosophy of how technology (computers) could be helpful to managerial decision-making surfaced under the name “DSS” in 1970. On today, the DSS have become securely established in the mainstream of IS operation and application. We find on today that decisions are made throughout the countries and the results are to find a communication that works effective, fast, and efficiently. 

In context with the article rapid decision-making has become more important as competitive situations. (Eisenhardt) learned that the most successful firms of those studied made strategic decisions rapidly. She recognized that confidence and anxiety plays as the key components in the speed process. (El Sawy) suggests that ” to go complete effectively in today’s’ competitive world: time-compressed information exhaustive environment, fast-comeback is becoming a critical strategic potential.  

Eisenhardt, K.M. Making fast strategies decisions in high-velocity environments, Academy of Management Journal, 32, 3, (1989), 543-576

El Sawy, O, IT for executives and managers; from symphony orchestras to jazz ensembles. DSS-91 Transactions (1991), 1-3 

 

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Manager A shows a return of 16% with a standard deviation of 10%. Manager B shows a return of 12% with a standard deviation of 8%. If the risk free rate is 2% which manager has the better risk adjusted return?

 

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