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guajiro [1.7K]
2 years ago
11

Potter Corporation has gained considerable market share in recent years for its​ specialty, low-volume, complex line of​ product

s, but the gain has been offset by a loss in market share for its​ high-volume, simple line of products. This has resulted in a net decline in its overall profitability.
Advise management about specific changes that may be required in its cost accounting system and explain why the existing system may be inadequate.
Business
2 answers:
Oksana_A [137]2 years ago
7 0

Answer:

Potter Corporation should turn to activity-based costing.

Explanation:

Potter Corporation should change to activity-based costing. Since Its present system seems to be deforming product costs, resulting in prices of specialty products that are below average and prices of simple products that are too high. This may lead Potter to push products that produce low profit margins.

just olya [345]2 years ago
4 0

Answer:

The company should adopt Lean Accounting

Explanation:

The main goal of lean accounting is to improve financial management practices within an organization. Lean accounting is an extension of the philosophy of lean manufacturing and production, which has the stated intention of minimizing waste while optimizing productivity. For example, if an accounting department is able to cut down on wasted time, employees can focus that saved time more productively on value-added tasks.

When using lean accounting, traditional costing methods are replaced by value-based pricing and lean-focused performance measurements.

Financial decision making is based on the impact on the company's total value stream profitability. Value streams are the profit centers of a company, which is any branch or division that directly adds to its bottom-line profitability.

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A company's defined benefit pension plan had a PBO of $265,000 on January 1, 2018. During 2018, pension benefits paid were $40,0
anastassius [24]

Answer:

$331,500

Explanation:

The computation of the ending balance of the pension benefit obligation is shown below:

= Opening balance of PBO + service cost + interest cost - pension benefits

= $265,000 + $80,000 + $26,500 - $40,000

= $331,500

The computation of the interest cost is shown below:

= Opening balance of PBO × discount rate

= $265,000 × 10%

= $26,500

The increased value of the plan assets would be ignored.

4 0
3 years ago
Kasey changes jobs on a regular basis. She does this to secure better career growth opportunities and to decrease boredom. Kasey
topjm [15]

Answer:

The correct answer is letter "C": job hopping.

Explanation:

Job hopping refers to the act by which employees change from jobs frequently to avoid the boredom of working in the same place during long periods. Typically, this practice is repeated every one or two years and could be exercised when better job opportunities arise in the way.

3 0
3 years ago
On a CVP chart, on either side of the break-even point, the vertical distance between the total sales line and the total cost li
DochEvi [55]

Answer:

The answer is:

Total loss to the left of the intersection

Total profit to the right of the intersection

Explanation:

Cost-volume-profit (CVP) analysis is a method that looks into the impact of how varying levels of costs and volume will affect the operating profit of a firm. This gives companies good understanding of the profitability of their products or services.

To answer the question above;

Total loss to the left of the intersection

Total profit to the right of the intersection

While the intersection is the break-even

5 0
3 years ago
The general common law rule on contract modifications holds that an agreement to modify an existing contract requires a(n):
dlinn [17]
<span>agreement to modify an existing contract would be the answer</span>
8 0
3 years ago
For each situation, select one option from below that you think will help increase profit.
Art [367]

Employees at printing company is the best rates on advertising, A shop that sells fine glass is Get the best rates on supplier purchases.

<h3 /><h3>What are the other situation that fix the below statements?</h3>

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Thus, the numbering has done in above statements correctly

For more details about the situation and statements, click here

brainly.com/question/20382671

#SPJ1

6 0
2 years ago
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