Herren, Inc

question 168

Essay

Herren, Inc. reported the following data regarding costs and inventories for the current year: beginning goods-in-process inventory, $4,000; beginning finished goods inventory, $2,000; cost of goods manufactured, $11,500; operating expenses, $3,000; ending finished goods inventory, $1,000; ending goods-in-process inventory, $1,500. Cost of goods sold for Herren, Inc. equals _________________.

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Definitions:

Manager

An individual responsible for controlling or administering an organization or group of staff, making decisions on planning, organizing, leading, and controlling.

Management Functions

The basic roles that managers perform in an organization, traditionally classified as planning, organizing, leading, and controlling.

Managerial Roles

Specific categories of managerial behavior including interpersonal, informational, and decisional roles.

Mintzberg's Ten

A framework of ten management roles categorized into interpersonal, informational, and decisional roles, developed by Henry Mintzberg.