Question
In: Finance
You are the Controller for ABC Company, which makes and sells products. You are filling in...
You are the Controller for ABC Company, which makes and sells products. You are filling in for the CFO of your company by making a presentation at a pre-planning meeting held at your company. Your topic is decentralization.
Solutions
Expert Solution
Meaning :
Decentralization is a form of organizational structure in which top management takes decision making responsibilities and manage daily operations of middle and lower level.
CFO role :
- CFO manage or handle every little detail of finance of a company like accounting, planning and operation.
- CFO always have a crucial point of view on financial decision.
- CFO need to ensure that their must learn new skills and progress in their careers.
- Their must be a clear communication between upper management and lower level management. Decentralization can also improve communication.
jeff jeffy answered 2 years agoRelated Solutions
Lowell Company makes and sells artistic frames for pictures. The controller is responsible for preparing the...
Lowell Company makes and sells artistic frames for pictures. The
controller is responsible for preparing the master budget and has
accumulated the following information for 2020.
January
February
March
April
May
Estimated unit sales
10,300
11,600
9,000
8,300
8,000
Sales price per unit
$50.30
$48.70
$48.70
$48.70
$48.70
Direct labor hours per unit
2.3
2.3
1.6
1.6
1.6
Wage per direct labor hour
$8
$8
$8
$9
$9
Lowell has a labor contract that calls for a wage increase to...
Lowell Company makes and sells artistic frames for pictures. The controller is responsible for preparing the...
Lowell Company makes and sells artistic frames for pictures. The
controller is responsible for preparing the master budget and has
accumulated the following information for 2017. January February
March April May Estimated unit sales 10,700 11,000 9,000 8,700
8,900 Sales price per unit $50.60 $47.90 $47.90 $47.90 $47.90
Direct labor hours per unit 2.1 2.1 1.5 1.5 1.5 Wage per direct
labor hour $7.00 $7.00 $7.00 $8.00 $8.00 Lowell has a labor
contract that calls for a wage increase to...
Lowell Company makes and sells artistic frames for pictures. The controller is responsible for preparing the...
Lowell Company makes and sells artistic frames for pictures. The
controller is responsible for preparing the master budget and has
accumulated the following information for 2017. January February
March April May Estimated unit sales 12,000 14,000 13,000 11,000
11,000 Sales price per unit $50.00 $47.50 $47.50 $47.50 $47.50
Direct labor hours per unit 2.0 2.0 1.5 1.5 1.5 Wage per direct
labor hour $8.00 $8.00 $8.00 $9.00 $9.00 Lowell has a labor
contract that calls for a wage increase to...
Lowell Company makes and sells artistic frames for pictures. The controller is responsible for preparing the...
Lowell Company makes and sells artistic frames for pictures. The
controller is responsible for preparing the master budget and has
accumulated the following information for 2017.
January
February
March
April
May
Estimated unit sales
10,300
11,400
8,200
8,100
8,700
Sales price per unit
$50.80
$48.20
$48.20
$48.20
$48.20
Direct labor hours per unit
2.1
2.1
1.7
1.7
1.7
Wage per direct labor hour
$8.00
$8.00
$8.00
$9.00
$9.00
Lowell has a labor contract that calls for a wage increase to...
Lowell Company makes and sells artistic frames for pictures. The controller is responsible for preparing the...
Lowell Company makes and sells artistic frames for pictures. The
controller is responsible for preparing the master budget and has
accumulated the following information for 2020.
January
February
March
April
May
Estimated unit sales
10,800
11,100
8,700
8,400
8,000
Sales price per unit
$50.50
$48.20
$48.20
$48.20
$48.20
Direct labor hours per unit
2.0
2.0
1.5
1.5
1.5
Wage per direct labor hour
$9
$9
$9
$10
$10
Lowell has a labor contract that calls for a wage increase to...
ABC Limited (ABC) is a private company producing lunch packages. It mainly sells products to supermarkets...
ABC Limited (ABC) is a private company producing lunch packages.
It mainly sells products to supermarkets and grocery stores. ABC
has a loan from a local bank, which is secured by its accounts
receivable and inventory. The loan is not to exceed 70% of accounts
receivable and 40% of inventory as at the accounting year end
(December 31, 2016). ABC uses perpetual inventory system. ABC must
provide the bank with the reviewed financial statements within 60
days of its year...
ABC Limited (ABC) is a private company producing lunch packages. It mainly sells products to supermarkets...
ABC Limited (ABC) is a private company producing lunch packages.
It mainly sells products to supermarkets and grocery stores. ABC
has a loan from a local bank, which is secured by its accounts
receivable and inventory. The loan is not to exceed 70% of accounts
receivable and 40% of inventory as at the accounting year end
(December 31, 2019). ABC uses perpetual inventory system. ABC must
provide the bank with the reviewed financial statements within 60
days of its year...
ABC Company makes 40,000 units per year of a part it uses in the products it...
ABC Company makes 40,000 units per year of a part it uses in
the
products it manufactures. The per unit product cost of this
part
is shown below:
direct materials .............. $15.30
direct labor .................. 24.70
variable overhead ............. 2.10
fixed overhead ................ 27.40
total ......................... $69.50
An outside supplier has offered to sell ABC Company 40,000
units
of this part a year for $66.10 per unit. If ABC Company
accepts
this offer, the facilities now being used to make...
Bakersfield Company makes and sells glare filters for microcomputer monitors. Steve Smith, the controller, is responsible...
Bakersfield Company makes and sells glare filters for
microcomputer monitors. Steve Smith, the controller, is responsible
for preparing Bakersfield’s master budget and assembled the
following data for the upcoming year. The direct materials cost per
unit was $18 in December of the current year. Labor saving
machinery will be operational by March of the upcoming year. Also,
as of March 1, the company plans to increase its direct labor rate.
Direct labor for Bakersfield is considered variable because the
company...
ABC Company produces and sells four products. Information about these products for 2019, the most recent...
ABC Company produces and sells four products. Information about
these products
for 2019, the most recent year, appears below:
Product A Product B
Product C Product D
selling price per unit 19.00 16.00 15.00 12.00
variable costs per unit 5.00 13.00 5.00 6.00
number of units sold 39,000 32,000 15,000 28,000
ABC Company had total fixed costs of $648,000 in 2019.
Calculate the margin of safety reported by ABC
Company for 2019.
Calculate the number of units of Product...
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