Chapter 9 Profit Planning and Activity-Based Budgeting McGraw-Hill/Irwin Copyright © 2011 by The McGraw-Hill Companies‚ Inc. All rights reserved. Learning Objective 1 9-2 Learning objective 1 • List and explain five purposes of budgeting systems. Purposes of Budgeting Systems Budget Budget a detailed plan‚ expressed in quantitative terms‚ that specifies how resources will be acquired and used during a specified period of time. 1. Planning 2. Facilitating Communication and Coordination 3
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Question 1 Product costs are costs that are associated with manufactured goods until the time period during which products are sold. It involved all costs in acquiring or making a product. These costs consist of direct materials‚ direct labour and manufacturing overhead. Product costs are initially assigned to an inventory account on the balance sheet. When the goods are sold‚ the costs are released from inventory as expenses and matched against sales revenue. Since product costs are initially
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CHAPTER 10 QUIZ 1. A mixed cost function has a constant component of $20‚000. If the total cost is $60‚000 and the independent variable has the value 200‚ what is the value of the slope coefficient? a. $200 b. $400 c. $600 d. $40‚000 2. [CMA Adapted] Of the following methods‚ the one that would not be appropriate for analyzing how a specific cost behaves is a. the scattergraph method. b. the industrial engineering approach. c. linear programming. d. statistical regression analysis.
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E -11 DM 5 DL 4 VMO 3 FMO = 180‚000/50‚000 = 3.6 Total = 15.6 15.6 * 5‚000 (50‚000-45000) = 78‚000 E-12 DM 5 DL 4 VMO 3 Cost per unit = 12 $ EIV = 12 * 5000 = 60‚000 E-13 Difference 3.6 * 5000 = 18‚000 And 78‚000 – 60‚000 = 18‚000 E-14 CGS sold = 45000(sold) * 15.60 = 702‚000 E15 12 * 45000 = 540‚000 E16 Sales = 30 * 45‚000 = 1‚350‚000 CGS 702‚000 CM 648‚000 Less S & admin. 160‚000 Net income 488‚000 E17 Sales =
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Hilton HHornors world wide : loyalty wars Hilton Hotels regards frequent guest programs as the lodging industry’s most important marketing tool‚ serving to direct promotional and customer service efforts at the heavy user. How should management of Hilton’s international guest’s rewards program respond when Starwood‚ a competing hotel group operating several brands‚ ups the ante in the loyalty stakes? Jeff Diskin‚ head of Hilton HHonors (Hilton’s guest reward program)‚ opened the wall street
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HILTON WORLDWIDE AT-A-GLANCE The following highlights are recent examples of how we at Hilton Worldwide are furthering our Mission to be the preeminent global hospitality company. Corporate In Q2 2013 Hilton Worldwide: • Led the industry with the largest global pipeline by rooms‚ per STR – with more than 175‚000 rooms in the pipeline‚ the largest in company history. • Signed a management agreement to complete a major renovation and add a new 50 room tower to the Hotel Companario in
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HILTON HOTELS CASE Business Context/Key Business Drivers Hilton Hotels is one the biggest lodging company worldwide and has been recently acquired by Blackstone Group. In 2007 Hilton’s portfolio characteristics are: • close to 3‚000 hotels between all its brands; • Properties can be: a) directly owned; b) managed; c) franchised. The latter is the most common solution; • covers almost the possible spectrum of lodging. The IT function is considered part of the core business and the
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Solution Review Complete all questions in this package. Be careful to use correct significant figures and units for any calculation problems. For all chemical equations use phase subscripts. Concentration 1. Calculate the concentration of the solution formed when 23.61 g of sodium phosphate is dissolved in 475.0 cm3 of water. 2. What volume of water is needed to dissolve 85.8 g of silver nitrate to make a 2.650 M solution? 3. What mass of magnesium sulphate is needed to make 1500
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Hilton Hotels is one of the market leaders in the hotel and gaming industry in the United States. Hilton is a well-known and distinguished name in fine hotels across the United States and worldwide. In 1999‚ Hilton expanded aggressively by acquiring the Promus Hotel Corporation‚ Hampton Inn and Suites‚ Doubletree Hotels‚ Embassy Suites Hotels‚ and Homewood Suites. Hilton Hotels Corporation has grown to become the world ’s most recognized and most successful hotel company (Hilton Innovation‚ 2007)
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Background: Hilton hotels started out in Cisco‚ TX being a small family owned business in the early 1900’s. By 1946 Hilton Hotels Corp became public and 8 years later acquired Promus Corp with the intention of continuing to diversify and cater to all customers whether upper class‚ middle class‚ business or personal. Fast forward to 2007 where now Hilton owns/operates and/or franchises close to 3‚000 properties and 500‚000 rooms in 78 countries ranging from ultimate luxury to middle class hotel chains
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