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1. Which of the following statements about a balanced scorecard is true?

Group of answer choices

1. The balanced scorecard gives managers a perspective of the organizations performance using a recurring set of criteria.

2. The advantage of a balanced scorecard approach is that it can best be used as a single, comprehensive measure of corporate performance.

3. The advantage of a balanced scorecard approach is that it eliminates the need for management accounting data.

4. The advantage of a balanced scorecard approach is that it leads management to focus exclusively on critical downstream issues such as consumer demand, and away from lesser upstream issues such as design and production.

2. What is residual income?

Group of answer choices

1. Income beyond the breakeven point determined by the products lifecycle

2. The excess of investment center income over the minimum return set by management

3. A percentage of income received by an organization for its participation in a joint venture

4. Excess income earned after budgeted income has been achieved

3. Joslyn Company manufactures metal brackets. The estimated number of metal bracket sales for the first three months of the current year is:

Month	Unit Sales
January	1,250
February	1,400
March	1,200

Finished goods inventory at the end of last December was 300 units. Desired ending finished goods inventory is equal to 20 percent of the next month's sales. Joslyn Company expects to sell the brackets for $20 each.

How many brackets should Joslyn produce in January?

Group of answer choices

1. 1,300

2. 1,400

3. 1,960

4. 1,230

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