Describe the internal business perspective of the balanced scorecard and provide an example of a critical success factor for this perspective
The internal business perspective deals with objectives across the company's entire value chain from research and development to post-sale customer service. Critical success factors here are likely to include improving quality throughout the production process, increasing productivity, and increasing efficiency and timeliness.
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Harrod Company paid $6500 for a 4-month insurance premium in advance on November 1, with coverage beginning on that date. The balance in the prepaid insurance account before adjustment at the end of the year is $6500, and no adjustments had been made previously. The adjusting entry required on December 31 is:
A. Debit Prepaid Insurance, $3250; credit Insurance Expense, $3250. B. Debit Insurance Expense, $3250; credit Prepaid Insurance, $3250. C. Debit Insurance Expense, $1625; credit Prepaid Insurance, $1625. D. Debit Prepaid Insurance, $1625; credit Insurance Expense, $1625. E. Debit Cash, $6500; Credit Prepaid Insurance, $6500.
Savvy Sightseeing had beginning equity of $78,000; revenues of $108,000, expenses of $71,000, and dividends to stockholders of $9600; there were no stock issuances. Calculate the ending equity.
A. $37,000. B. $41,000. C. $105,400. D. $31,400. E. $115,000.
If you were thinking about a home theater system, which of the following represents the inputs?
A. Spinning the disk to play, pause, rewind, or fast forward. B. Playing the movie including the audio through the speakers and the video on the TV. C. A message stating that the disk is dirty and cannot be played. D. The DVD player, DVD movie, speakers, TV, and electricity.
The setup cost to make a carpet is $20 per setup. The holding cost is $2.00 per yard per year, and the annual demand is 12,000 yards. The manufacturing facility operates 300 days, and 120 yards of the carpet are produced per day. Given this information, what is total annual setup cost?
A. $600 B. $500 C. $400 D. $300