Question

Santana Rey’s two departments, computer consulting services and computer workstation furniture manufacturing, have each been profitable for Business Solutions. Santana has heard of the balanced scorecard and wants you to provide details on how it could be used to measure performance of her departments. 1. Explain the four performance perspectives included in a balanced scorecard. 2. For each of the four performance perspectives included in a balanced scorecard, provide examples of measures Santana could use to measure performance of her departments.

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1. The first important thing to understand first is the definition of balanced scorecard. Balanced scorecard is defined as a strategic, integrated and holistic approach to measuring an organization's performance. A balanced scorecard offers four perspectives: View from the Top or Financial (what are our objectives?), Customer Perspective (are we meeting customer needs?) Internal Processes Perspective (do processes support achieving those goals?) Learning and Growth Perspective (Do we have a learning culture?). All four of these perspectives need to be aligned with the company's strategic plan in order for it to work well because otherwise they can't measure success against their stated targets. And each perspective has different measures that will help you understand how your business is performing - if one area isn't working as well as expected, what adjustments could be made?

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accounting

Laker Company reported the following January purchases and sales data for its only product.

DateActivitiesUnits Acquired at CostUnits Sold at RetailJan. 1Beginning inventory140 units @ $6.00 = $840Jan. 10Sales100 units @ $15Jan. 20Purchase60 units @ $5.00 = 300Jan. 25Sales80 units @ $15Jan. 30Purchase180 units @ $4.50 = 810Totals380 units$1,950180 units\begin{matrix} \text{Date} & \text{Activities} & \text{Units Acquired at Cost} & \text{Units Sold at Retail}\\ \text{Jan. 1} & \text{Beginning inventory} & \text{140 units @ \$6.00 = } & \text{\$840}\\ \text{Jan. 10} & \text{Sales} & \quad & \quad & \text{100 units @ \$15}\\ \text{Jan. 20} & \text{Purchase} & \text{60 units @ \$5.00 = } & \text{300}\\ \text{Jan. 25} & \text{Sales} & \quad & \quad & \text{80 units @ \$15}\\ \text{Jan. 30} & \text{Purchase} & \text{180 units @ \$4.50 = } & \text{810}\\ \quad & \text{Totals} & \text{380 units} & \text{\$1,950} & \text{180 units}\\ \end{matrix}

The company uses a perpetual inventory system. Determine the cost assigned to ending inventory and to cost of goods sold using (a) specific identification, (b) weighted average, (c) FIFO, and (d) LIFO. (Round per unit costs and inventory amounts to cents.) For specific identification, ending inventory consists of 200 units, where 180 are from the January 30 purchase, 5 are from the January 20 purchase, and 15 are from beginning inventory.