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Balanced scorecard. Following is a random-order listing of perspectives, strategic objectives, and performance measures for the balanced scorecard. Perspectives Internal business process Customer Learning and growth Financial Strategic Objectives Acquire new customers Increase shareholder value Retain customers Improve manufacturing quality Develop profitable customers Increase proprietary products Increase information-system capabilities Enhance employee skills On-time delivery by suppliers Increase profit generated by each salesperson Introduce new products Minimize invoice-error rate Performance Measures Percentage of defective-product units Return on assets Number of patents Employee turnover rate Net income Customer profitability Percentage of processes with real-time feedback Return on sales Average job-related training-hours per employee Return on equity Percentage of on-time deliveries by suppliers Product cost per unit Profit per salesperson Percentage of error-free invoices Customer cost per unit Earnings per share Number of new customers Percentage of customers retained For each perspective, select those strategic objectives from the list that best relate to it. For each strategic objective, select the most appropriate performance measure(s) from the list.

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Methods of joint-cost allocation, comprehensive. Kardash Cosmetics purchases flowers in bulk and processes them into perfume. From a certain mix of petals, the firm uses Process A to generate Seduction, its high-grade perfume, as well as a certain residue. The residue is then further treated, using Process B, to yield Romance, a medium-grade perfume. An ounce of residue typically yields an ounce of Romance. In July, the company used 25,000 pounds of petals. Costs involved in Process A, i.e., reducing the petals to Seduction and the residue, were: Direct Materials – 22 0 , 000 ; Overhead Costs – 22 , 000 ; Direct Labor – 4 0 , 000. During July, Process A yielded 7,000 ounces of Seduction and 49,000 ounces of residue. From this, 5,000 ounces of Seduction were packaged and sold for 31.50 an ounce. The other 21,000 ounces remained as residue. Packaging costs incurred were 196,000 for Romance. The firm has no beginning inventory on July 1. If it so desired the firm could have sold unpackaged Seduction for 24 an ounce. 1. What is the joint cost of the firm to be allocated to Seduction and Romance? Required 1. Under the physical measure method, how would the joint costs be allocated to Seduction and Romance? 2. Under the sales value at splitoff method, what portion of the joint costs would be allocated to Seduction and Romance, respectively? 3. What is the estimated net realizable value per ounce of Seduction and Romance? 4. Under the net realizable value method, what portion of the joint costs would be allocated to Seduction and Romance, respectively? 5. What is the gross margin percentage for the firm as a whole? 6. Allocate the joint costs to Seduction and Romance under the constant gross-margin percentage NRV method. 7. If you were the manager of Kardash Cosmetics, would you continue to process the petal residue into Romance perfume? Explain your answer.
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Balanced scorecard. Following is a random-order listing of perspectives, strategic objectives, and performance measures for the balanced scorecard. Perspectives Internal business process Customer Learning and growth Financial Strategic Objectives Acquire new customers Increase shareholder value Retain customers Improve manufacturing quality Develop profitable customers Increase proprietary products Increase information-system capabilities Enhance employee skills On-time delivery by suppliers Increase profit generated by each salesperson Introduce new products Minimize invoice-error rate Performance Measures Percentage of defective-product units Return on assets Number of patents Employee turnover rate Net income Customer profitability Percentage of processes with real-time feedback Return on sales Average job-related training-hours per employee Return on equity Percentage of on-time deliveries by suppliers Product cost per unit Profit per salesperson Percentage of error-free invoices Customer cost per unit Earnings per share Number of new customers Percentage of customers retained For each perspective, select those strategic objectives from the list that best relate to it. For each strategic objective, select the most appropriate performance measure(s) from the list.
TopicAll Topics
SubjectAccounting
ClassGrade 10