Q1 - NOT attempted!!

39%
calculations (Fail)
Question 2
a. Starting with the none financial data provided in the question, it seems that the logistics
department’s productivity has declined significantly from 2020 to 2021. This is clearly
seen in the percentage of orders that have been delivered on time as well the number of
complaints the company has received over the past two years. In 2020, the percentage
of orders delivered on time was 95% and it declined significantly in 2021 to 70%. This
can be directly linked to the spike in the number of customer complaints received over
the two years. From 20000 to 300000 is not something that is insignificant. In addition to
this, the percentage of late delivery for Gold membership holders also had a dramatic
increase of 10% between the two years. This would largely attribute to the increase in
customer complaints because they are paying a $100 annual fee and not receiving their
products within the promised time. All of this, added to the fact that the company had an
increased running cost of over double the cost of 2020, in 2021 for the customer
complaints department surely proves the logistics department needs to be very much
more efficient over the next year in order to retain customers. The increase in customers
in 2021 can be attributed to the success of 2020. People knew that Clamp Co. had
high-quality, affordable products that were delivered within 24 hours. This gave the
company an edge over other home furniture companies.
From a financial perspective, the company has improved in all aspects and has
increased its profits. However, this is largely attributed to the electronics portion of their
products. Home furniture actually saw a decrease in sales. It can be speculated that
because of the lowered cost of delivery expenses from 2020 to 2021, the way in which
deliveries were made was not effective and as such, were late and did not make
customers happy.
Due to the steady growth in the electronics market by 30% each year, their sales have
overtaken home furnitures and have made up most of the revenue as well as expenses
in 2021. There were only a few percentages worth of changes from 2020 to 2021.
The net profit margins; in 2020: 22%. 2021: 27%.
The gross profit margins: 2020: 39%. 2021: 43%
This proves that products are selling.
b. Taking into consideration, all the factors that are discussed above, it is safe to assume
that the financials have gone well from 2020 to 2021. However, it can be speculated that
there will be a steep decrease in sales of furniture in the next year, as well as a drop in
the number of customers who apply for gold membership. To make sure this is
controlled, the company needs to make sure the logistics department is running more
efficiently than it was in 2021 and work towards improving their delivery services to try
and reach the ideal figures of 2020 again. They can attempt this by having promotions or
sales for their furniture all the while improving their delivery procedures. If this is done,
the company can expect to see lower customer complaints and an increase in gold
memberships from the first quarter of the year to the second.
In addition to promotions and sales, more marketing can be done for the furniture in
order to stimulate sales.

need to explain by each category of sales.

Question 4
a. Ever since the beginning, businesses have had an impact on the environment. But
however, only now are people starting to realize how much of an impact it really is. And
as such, they are becoming more conscious of the costs to the environment their
business has. With this in mind, environmental management accounting is becoming
increasingly important and it can not only help with financial costs, but also help
businesses identify non-financial issues such as non-compliance, negative public
relations, and health and safety problems.
b. The four categories of costs that would need to be identified when making an
environmental cost report would be environmental ; (1) prevention costs: which are the
costs that are taken to prevent the production of waste, (2) detection costs: costs which
naturally incur in order to make sure that company complied with the regulations and
voluntary standards, (3) internal failure costs: costs that have been incurred from
performing works that produce contaminant and waste that have not been discharged
into the environment, and (4) external failure costs: the opposite of internal failure costs,
meaning costs that are incurred due to discharging of waste into the environment.
The environmental cost report is an important report to any business these days
because it provides the management with important information that is related to
additional costs that the company may be bearing due to environmental issues. By
analyzing and rechecking the product costs and specific processes, management may
be able to locate hidden overhead costs, which then can be used to make decisions on
the company’s impact on the environment. With this, a company’s economy may
increase and of course, what follows is both customer as well as investor satisfaction.
Question 5
a. First, a company needs to select which subject they wish to benchmark. Directors and
other senior administration should be involved in deciding which processes are critical to
the firm’s success. The processes should also be prioritized based on which criteria are
most substantial to all stakeholders. After prioritizing, elect and define the measures that
they want to collect.
Then they will have to decide against which company they want to benchmark against.
Determine if you're going to benchmark processes within your own firm, a rival, or a
company outside of your industry. It may be hard to collect all the data you want if you
benchmark a direct rival. So you should elect several different companies to study in
order to get the data you need. round up information from several sources to get the
most detailed information about the organization you elect to study.
Then progress will have to be documented. Chart out your current processes so you can
identify areas that need enhancement and more fluently compare against the chosen
organization.
Collecting and analyzing can prove problematic when you're trying to gather data from a
contender because a lot of that information may be nonpublic. Gather information
through exploration, interviews, casual exchanges with connections from the other
companies, and with formal interviews or questionnaires. You can also collect secondary
information from websites, reports, marketing materials, and newspapers. still,
secondary information may not be as dependable. After you have collected enough data,
get all stakeholders together to dissect the data.
After this, you need to measure the data that has been collected. Look at the data you’ve
collected side by side with the criteria you gathered from your analysis of your own
processes. You may want to class your performance criteria on top of your process
diagrams or collude out your rival’s processes to more fluently see where you’re falling
behind. As you dissect the comparisons, try to identify what causes the gaps in your
process. For illustration, do you have enough people, and are they sufficiently trained to
perform assigned tasks? Communicate ideas to effectively and efficiently fill those gaps.
Then a plan must be created to apply changes that you have identified as being the best
to close performance gaps. enactment requires total buy-in from the top down. Your plan
must include plainly defined objectives and should be written with the company’s culture
in mind to help minimize any pushback you may get from workers.
All that is left to do now is implement the changes. Closely watch the changes and
worker performance. However, identify areas that need to be tweaked, If new processes
aren't running easily as hoped. Make sure all workers understand their jobs, are
well-trained and have the know-how to complete their assigned tasks. Document all
courses and make sure all workers have access to work orders and instructions so that
all are on the same page and working toward the same target.
After successfully enforcing a new process, it’s time to find other ways to enhance it.
Review the new processes you’ve enforced and see if there are any changes that need
to be made. However, look to other areas or further ambitious systems that you may
want to benchmark and start the process again If everything is running well. When you
 properly administer and follow the perpetual practice of benchmarking, your company
will grow, and you'll keep up with( or verily surpass) your competitors.
b. - With benchmarking, companies can closely monitor their own performance and
manage change effectively.
- They can do this by setting performance expectations after a thorough analysis of the
company and its competitors is done, which would lead to higher productivity.
- With higher productivity, even employees will eventually enable a mindset and culture
that is dedicated to continuous improvement, which will show itself in the company
reviews as well as financial statements.
- This continuous improvement will lead to employees taking charge of their own
development which will fill performance gaps that otherwise an employee would not
bother with.