Question 1 Measure Maps Silver Lining Inc. has a balanced scorecard…
QuestionQuestion 1 Measure Maps Silver Lining Inc. has a balanced scorecard…Question 1 Measure Maps Silver Lining Inc. has a balanced scorecard with a strategy map that shows that delivery time and the number of erroneous shipments are expected to affect the company’s ability to satisfy the customer. Further, the strategy map for the balanced scorecard shows that the hours from ordered to delivered affects the percentage of customers who shop again, and the number of erroneous shipments affects the online customer satisfaction rating. The following information is also available:The company’s target hours from ordered to delivered is 30.Every hour over the ordered-to-delivered target results in a 0.5% decrease in the percentage of customers who shop again.The company’s target number of erroneous shipments per year is no more than 70.Every error over the erroneous shipments target results in a 0.05 point decrease in the online customer satisfaction rating and an added future financial loss of $800.The company estimates that for every 1% decrease in the percentage of customers who shop again, future profit decreases by $4,000 and market share decreases by 0.3%.The company also estimates that for every 1 point decrease in the overall online customer satisfaction rating (on a scale of 1 to 10), future profit decreases by $3,000 and market share decreases by 0.6%.Using these estimates, determine how much future profit and future market share will change if:Average hours from ordered to shipped is 26.5.Average shipping time (hours from shipped to delivered) is 14.3.Number of erroneous shipments is 100.Total decrease in future profit $fill in the blank 1Round your answer to two decimal places.Total decrease in future market share fill in the blank 2% Question 2 Measure maps Moses Moonrocks Inc. has developed a balanced scorecard with a measure map that suggests that the number of erroneous shipments has a direct effect on operating profit. The company estimates that every shipment error leads to a reduction of revenue by $4,050 and increased costs of about $2,700.Sales $222,000Cost of goods sold 156,000Depreciation expense 19,000Other expenses 20,000If the company has the above budgeted sales and costs for next month (without accounting for any possible shipping errors), determine how many shipping errors the company can afford to have and still break even.Break-even shipping errors fill in the blank 1 Question 3 Cognitive biases Two departments within Cougar Gear Inc. are Production and Sales. Each department has a unique scorecard, as follows:Image transcription textProduction Sales Learning and InternalLearning and Customer GrowthProcesses Growth Impro… Show moreThe Production Department scorecard focuses on the learning and growth and internal processes perspectives. The Sales Department scorecard focuses on the learning and growth and customer perspectives. Both scorecards have the learning and growth performance metrics of median training hours per employee and average employee tenure. The Production scorecard has the unique metrics of production time per unit and number of production shutdowns. The Sales scorecard has the unique metrics of percentage of customers who shop again and online customer satisfaction rating. The performance targets for each metric are shown in the tan boxes just under the performance metrics. The actual achieved metrics are shown in the red boxes just below the tan boxes. When evaluating both departments, Cougar Gear’s management looks at the median training hours per employee and average employee tenure metrics and subsequently decides to give the Sales Department a large bonus while giving the Production Department a minimal bonus. a. Identify the cognitive bias in the given situation.a. The common measure for both the department employeesb. The unique measure restricted to the departmentsc. Importance given to the unique metrics than the common metricsd. None of the aboveabcd b. Identify the department that performs well.a. Production departmentb. Sales departmentc. Production and sales departmentd. Overall the companyabcd c. Identify the advantage of having a unique scorecard.a. There is no such advantage of having a unique scorecard.b. The number of employees and their level of training are common metrics which may affect the performance metric of the company.c. The performance of the different divisions cannot be compared with another.d. The company can accurately measure the performance of the departments.abcd Identify the disadvantage of having a unique scorecard.a. There is no such advantage of having a unique scorecard.b. The number of employees and their level of training are common metrics which may affect the performance metric of the company.c. The performance of the different divisions cannot be compared with the other divisions.d. The company can accurately measure the performance of the departments.abcd Question 4 Elements of the balanced scorecardImage transcription textLearning and Financial Growth InternalProcesses Customer Reduce ImproveReduce Increase Train retu… Show more1. Choose the correct order of the strategic objectives.1. Reduce employee turnover2. Train employees3. Reduce shipping cost4. Improve returns and processing5. Delight the customers and increase the market value2, 1, 4, 5, 32, 1, 4, 3, 51, 2, 3, 4, 55, 4, 2, 3, 1 2. Choose the correct order of the predicted relationship between the performance metrics.1. Decrease in hours taken by the employee from returned to refunded.2. Percentage of customers who shop again.3. Online customer satisfaction rating.4. Number of reduction in erroneous shipments.1, 2, 3, 41, 4, 2, 34, 3, 2, 13, 2, 1, 4 3. Select the option as per the balanced scorecard.Theincreasedecreasein customer satisfaction ratingincreasesdecreasesthe market value of the product and also the percentage of revisit to the shop. Question 5 Strategic Initiatives and CSR Blue Skies Inc. is a retail gardening company that is piloting a new strategic initiative aimed at increasing gross profit. Currently, the company’s gross profit is 23% of sales, and its target gross profit percentage is 28%. The company’s current monthly sales revenue is $480,000. The new initiative being piloted is to produce goods in-house instead of buying them from wholesale suppliers. Its in-house production process has two procedures. The makeup of the costs of production for Procedure 1 is 40% direct labor, 45% direct materials, and 15% overhead. The makeup of the costs of production for Procedure 2 is 60% direct labor, 30% direct materials, and 10% overhead. Assume that Procedure 1 costs twice as much as Procedure 2. 1. Determine what the cost of labor, materials, and overhead for both Procedures 1 and 2 would need to be for the company to meet its target gross profit.Cost makeup of Procedure 1:Direct Labor $fill in the blank 1Direct Materials fill in the blank 2Overhead fill in the blank 3Total $fill in the blank 4Cost makeup of Procedure 2:Direct Labor $fill in the blank 5Direct Materials fill in the blank 6Overhead fill in the blank 7Total $fill in the blank 8 2. The company’s actual labor cost is $96,000 for Procedure 1. Determine the actual cost of direct labor, direct materials, and overhead for each procedure, and the total cost of production for each procedure.Cost makeup of Procedure 1:Direct Labor $fill in the blank 9Direct Materials fill in the blank 10Overhead fill in the blank 11Total $fill in the blank 12Cost makeup of Procedure 2:Direct Labor $fill in the blank 13Direct Materials fill in the blank 14Overhead fill in the blank 15Total $fill in the blank 16 3. The company is planning a CSR initiative to recycle the indirect materials used in production during Procedure 1. The company is paid for any of the indirect materials it recycles, and it applies the income from these payments as a direct offset to the cost of the direct materials. These indirect materials normally makeup 70% of the overhead cost for Procedure 1. Determine what the maximum new cost (net of recycling revenues) of these indirect materials could be for Procedure 1 if this CSR initiative were to enable the company to meet its target gross profit percentage without changing any other costs. Maximum new cost of P1 overhead materials:$fill in the blank 17 Question 6 Performance metrics Apples & Oranges Inc. is trying to become more efficient in shipping goods. It is experimenting with two new shipping procedure initiatives aimed at achieving this strategic objective. The company has provided the following data regarding the two procedures after one month of implementation: Shipping Procedure A Shipping Procedure BNumber of shipping errors 119 80 Hours from ordered to shipped 16.3 18.2 Shipping time (hours from shipped to delivered) 6.7 9.5 Pounds of goods shipped 1,260,000 560,000 Number of shipments 350 200 a. Compute the following performance metrics for each program: (1) Average number of shipping errors per shipment, rounded to two decimal places.Procedure A: fill in the blank 1 error per shipmentProcedure B: fill in the blank 2 error per shipment (2) Hours from ordered to delivered, rounded to one decimal place.Procedure A: fill in the blank 3 hours from ordered to deliveredProcedure B: fill in the blank 4 hours from ordered to delivered (3) Average pounds of goods per shipment.Procedure A: fill in the blank 5 lbs. of goods per shipmentProcedure B: fill in the blank 6 lbs. of goods per shipmentb. Which program should the company implement moving forward?Procedure AProcedure B Question 7 Elements of the balanced scorecard The following is the balanced scorecard for Smith Company:Image transcription textLearning and Growth InternalProcesses Customer Financial ImproveRetain top Improve Reduc… Show morea. Using the given balanced scorecard, identify the strategic initiatives of the company.a. Retaining the top employeesb. Improving the talent acquisition processc. Retain the new customerd. Automated warehousing facilityabcd Using the given balanced scorecard, identify the performance perspectives of the company.a. Learning and growth perspectiveb. Customer and internal processesc. Financial perspectivesd. All the aboveabcd b. From the given balanced scorecard, identify the overall strategic objective of the company.a. To increase the profitability of the businessb. To be a company with more social responsibilitiesc. To improve the welfare of the companyd. To start up new units of the companyabcd AccountingBusinessManagerial AccountingACCOUNTING MISCShare Question
