Solution manual cost management HMCost3e SM ch11
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Solution manual cost management HMCost3e SM ch11
CHAPTER 11 STRATEGIC COST MANAGEMENTDISCUSSION QUESTIONS1A competitive advantage IS providing better customer value for the same or lower cost or equi Solution manual cost management HMCost3e SM ch11 ivalent value for lower cost. The cost management system must provide information that helps identify strategies that will create a cost leadership position.2Customer value is the difference between what a customer receives and what the customer gives up (customer realization less customer sacrifice Solution manual cost management HMCost3e SM ch11 ). Cost leadership focuses on minimizing customer sacrifice. A differentiation strategy, on the other hand, focuses on increasing customer realizationSolution manual cost management HMCost3e SM ch11
, with the goal of ensuring that the value added exceeds the costs of providing the differentiation. Focusing selects the customers to which value IS CHAPTER 11 STRATEGIC COST MANAGEMENTDISCUSSION QUESTIONS1A competitive advantage IS providing better customer value for the same or lower cost or equi Solution manual cost management HMCost3e SM ch11 al linkages describe the relationship between a firm s value Cham and the value chain of its suppliers and customers. Internal linkages are relationships among theactivities within a firm's value chain4Organizational activities are activities that determine the structure and business processes of an Solution manual cost management HMCost3e SM ch11 organization, operational activities are the day-to-day activities that result from the structure and processes chosen by an organization. OrganizatiSolution manual cost management HMCost3e SM ch11
onal cost drivers are the sữuctural and procedural factors that determine a firm's long-term cost structure. Operational cost drivers are the factors CHAPTER 11 STRATEGIC COST MANAGEMENTDISCUSSION QUESTIONS1A competitive advantage IS providing better customer value for the same or lower cost or equi Solution manual cost management HMCost3e SM ch11 such as scale and scope factors. Examples include number of plants and management style. Executional cost drivers are factors that determine the cost of activities related to a firm's ability to executesuccessfully. Examples include degree ofemployee participation and plant layout efficiency.6Value Solution manual cost management HMCost3e SM ch11 -chain analysis involves Identifying those internal and external linkages that result in a firm achieving either a cost leadership or differentiationSolution manual cost management HMCost3e SM ch11
strategy. Managing organizational and operational cost drivers to create long-term cost reductions is a key element in the analysis. Value-chain analyCHAPTER 11 STRATEGIC COST MANAGEMENTDISCUSSION QUESTIONS1A competitive advantage IS providing better customer value for the same or lower cost or equi Solution manual cost management HMCost3e SM ch11 rial value chain is the linked set of value-creating activities from basic raw materials to end-use customers. Knowing an activity's relative position in the value chain is vital for strategic analysis. For example, knowing the relative economic position in the industrial chain may reveal a need to Solution manual cost management HMCost3e SM ch11 backward or forward integrate in the chain. A total quality control strategy also reveals the importance of external linkages. Suppliers, for example,Solution manual cost management HMCost3e SM ch11
create pans that are used in products downstream in the value chain. Producing defect-free parts depends strongly on the quality of parts provided byCHAPTER 11 STRATEGIC COST MANAGEMENTDISCUSSION QUESTIONS1A competitive advantage IS providing better customer value for the same or lower cost or equi Solution manual cost management HMCost3e SM ch11 r by the nature of the stages and the nature of the entity's life being defined The marketing viewpoint has a revenue-oriented viewpoint, the production viewpoint is expense oriented, and the consumption viewpoint IS customer value oriented.9The four stages of the marketing life cycle are inưoductio Solution manual cost management HMCost3e SM ch11 n, growth, maturity, and decline. The stages relate to the sales function over the life of the product. The introduction stage is slow growth, the groSolution manual cost management HMCost3e SM ch11
wth stage is rapid growth, the maturity stage IS growth but at a decreasing rate, and the decline stage is characterized by decreasing sales.45597o 20CHAPTER 11 STRATEGIC COST MANAGEMENTDISCUSSION QUESTIONS1A competitive advantage IS providing better customer value for the same or lower cost or equi Solution manual cost management HMCost3e SM ch11 fe-cycle costs are all costs associated with the product for its entire life cycle. These costs correspond to the costs of the activities associated with the production life cycle: research and development, production, and logistics.11The four stages of the consumption life cycle are purchasing. ope Solution manual cost management HMCost3e SM ch11 rating, maintaining, and disposal. Post-purchase costs are those costs associated with operating, maintaining, and disposing of a product. Knowing theSolution manual cost management HMCost3e SM ch11
se costs is important because a producer can create a competitive advantage by offering products with lower post-purchase costs than products offered CHAPTER 11 STRATEGIC COST MANAGEMENTDISCUSSION QUESTIONS1A competitive advantage IS providing better customer value for the same or lower cost or equi Solution manual cost management HMCost3e SM ch11 ring this stage on preproduction activities can save $8-$10 on production and postproduction activities. Clearly, the time to manage activities is during the development stage13Target costing is the setting of a cost goal needed to capture a given market share and earn a certain level of profits. Ac Solution manual cost management HMCost3e SM ch11 tions are then taken to achieve this goal—usually by seeking ways to reduce costs to the point where the plan becomes feasible (often by seeking belteSolution manual cost management HMCost3e SM ch11
r product designs). This is consistent with the cost reduction emphasis found in life-cycle cost management.14Cells act as a "factory within a factoryCHAPTER 11 STRATEGIC COST MANAGEMENTDISCUSSION QUESTIONS1A competitive advantage IS providing better customer value for the same or lower cost or equi Solution manual cost management HMCost3e SM ch11 lizing services and redeploying equipment and employees to the cell level, the quantity of directly attributable costs increases dramatically.15Backflush costing is a simplified approach to accounting lor manufacturing cost flows. It uses digger points to determine when costs are assigned to invento Solution manual cost management HMCost3e SM ch11 ry or temporaryaccounts. In the purest form, the only trigger point is when the goods are sold. In this variation, the manufacturing costs are flushedSolution manual cost management HMCost3e SM ch11
out of die system by debiting Cost of Goods Sold and crediting Accounts Payable and Conversion Cost Control. Other trigger points are possible but enCHAPTER 11 STRATEGIC COST MANAGEMENTDISCUSSION QUESTIONS1A competitive advantage IS providing better customer value for the same or lower cost or equi Solution manual cost management HMCost3e SM ch11 uplicated, or pasted to a publxdyàccessitóe website, in whole or in pan.CORNERSTONE EXERCISESCornerstone Exercise 11.Ỉ1Material usage cost reduction 192,000(520 - S16)........................................... s768000Labor usage cost reduction (90,000 - 72,000)S14................................... Solution manual cost management HMCost3e SM ch11 .... 252,000Purchasing cost reduction* 545,000 + [50.80(17,100 - 10,500)].......................... 50,280Total savings...............................Solution manual cost management HMCost3e SM ch11
......... Slt070,280*Based on the new demand, the number of clerks can be reduced by one, saving S45,000 (10,500/5,000 implies the need for three clerCHAPTER 11 STRATEGIC COST MANAGEMENTDISCUSSION QUESTIONS1A competitive advantage IS providing better customer value for the same or lower cost or equiCHAPTER 11 STRATEGIC COST MANAGEMENTDISCUSSION QUESTIONS1A competitive advantage IS providing better customer value for the same or lower cost or equiGọi ngay
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