Question 1

Which of the following is not a mistake often made when measuring nonfinancial performance?

Accepted Answer

A) Using subjective rather than objective measures. 
B) Not linking measure to strategy. 
C) Not validating links between activities and strategies. 
D) Not setting appropriate performance targets. 
A) Using subjective rather than objective measures. 
B) Not linking measure to strategy. 
C) Not validating links between activities and strategies. 
D) Not setting appropriate performance targets.

Question 2

Employees empowered with real decision-making authority are more likely to be more responsive to customer concerns.

Accepted Answer

A) True 
 B)False

Question 3

Which of the following statements is (are)true regarding performance measures? (A)In general,objective performance measures are better than subjective performance measures.
(B)In general,the use of multiple performance measures is better than the use of single performance measures.

Accepted Answer

A) Only A is true. 
B) Only B is true. 
C) Both A and B are true. 
D) Neither A nor B is true. 
A) Only A is true. 
B) Only B is true. 
C) Both A and B are true. 
D) Neither A nor B is true.

Question 4

A balanced scorecard is basically a balance sheet prepared using nonfinancial measures.

Accepted Answer

A) True 
 B)False

Question 5

Partial productivity measures are most closely related to what type of variances?

Accepted Answer

A) price variances 
B) sales mix variances 
C) efficiency variances 
D) production volume variances 
A) price variances 
B) sales mix variances 
C) efficiency variances 
D) production volume variances

Question 6

The QRT Company collected the following information (in days): What is the manufacturing cycle time?

Accepted Answer

A) 39.5 days 
B) 34.0 days 
C) 32.0 days 
D) 10.0 days 
A) 39.5 days 
B) 34.0 days 
C) 32.0 days 
D) 10.0 days

Question 7

The Alma Company collected the following information (in days): What is the manufacturing cycle efficiency?

Accepted Answer

A) 61.5% 
B) 72.7% 
C) 87.0% 
D) 27.3% 
A) 61.5% 
B) 72.7% 
C) 87.0% 
D) 27.3%

Question 8

A balanced scorecard uses only nonfinancial measures to determine how well the organization is doing in view of competing stakeholder concerns.

Accepted Answer

A) True 
 B)False

Question 9

One reason financial measures are used to evaluate performance is that they are easily quantifiable.

Accepted Answer

A) True 
 B)False

Question 10

One advantage of nonfinancial measures is that managers directly involved in operations are likely to understand them.

Accepted Answer

A) True 
 B)False

Question 11

Explain how nonfinancial performance measures for customer satisfaction may differ from functional performance measures.

Accepted Answer

Customer satisfaction measures attempt t

Question 12

The Cascade Machining Co has the following information for last year The partial productivity for metal is

Accepted Answer

A) 0.040 
B) 0.080 
C) 12.500 
D) 25.000 
A) 0.040 
B) 0.080 
C) 12.500 
D) 25.000

Question 13

Manufacturing cycle time is the total time involved in processing,moving,storing,and inspecting a good or providing a service.

Accepted Answer

A) True 
 B)False

Question 14

Improving the efficiency of the manufacturing cycle involves decreasing the time spent processing a good.

Accepted Answer

A) True 
 B)False

Question 15

Monet Co.has provided the following information for last year: The total labor cost (rounded)is:

Accepted Answer

A) $293,325 
B) $482,500 
C) $468,750 
D) $200,021 
A) $293,325 
B) $482,500 
C) $468,750 
D) $200,021

Question 16

The ABC Manufacturing Company collected the following information (in days): What is the manufacturing cycle time?

Accepted Answer

A) 14.0 days 
B) 16.0 days 
C) 22.0 days 
D) 22.5 days 
A) 14.0 days 
B) 16.0 days 
C) 22.0 days 
D) 22.5 days

Question 17

The Alma Company collected the following information (in days): What is the manufacturing cycle time?

Accepted Answer

A) 21 days 
B) 65 days 
C) 55 days 
D) 46 days 
A) 21 days 
B) 65 days 
C) 55 days 
D) 46 days

Question 18

If a manager wants to assess performance relative to the industry,it is best to use

Accepted Answer

A) partial productivity measures 
B) production volume variances 
C) sales price variances 
D) total factor productivity 
A) partial productivity measures 
B) production volume variances 
C) sales price variances 
D) total factor productivity

Question 19

One disadvantage of using nonfinancial measures to evaluate performance is that they are only available on a monthly,quarterly,or annual basis.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following statements is (are)false? (A)Internal,regional,and local benchmarks should be used for the most important processes and activities in an organization.
(B)In general,the use of multiple measures to evaluate performance is better than that use of a single performance measure.

Accepted Answer

A) Only A is false. 
B) Only B is false. 
C) Both A and B are false. 
D) Neither A nor B is false. 
A) Only A is false. 
B) Only B is false. 
C) Both A and B are false. 
D) Neither A nor B is false.

Which of the following is not a mistake often made when measuring nonfinancial performance?

Employees empowered with real decision-making authority are more likely to be more responsive to customer concerns.

Which of the following statements is (are)true regarding performance measures? (A)In general,objective performance measures are better than subjective performance measures. (B)In general,the use of multiple performance measures is better than the use of single performance measures.

A balanced scorecard is basically a balance sheet prepared using nonfinancial measures.

Partial productivity measures are most closely related to what type of variances?

The QRT Company collected the following information (in days): What is the manufacturing cycle time?

The Alma Company collected the following information (in days): What is the manufacturing cycle efficiency?

A balanced scorecard uses only nonfinancial measures to determine how well the organization is doing in view of competing stakeholder concerns.

One reason financial measures are used to evaluate performance is that they are easily quantifiable.

One advantage of nonfinancial measures is that managers directly involved in operations are likely to understand them.

Explain how nonfinancial performance measures for customer satisfaction may differ from functional performance measures.

The Cascade Machining Co has the following information for last year The partial productivity for metal is

Manufacturing cycle time is the total time involved in processing,moving,storing,and inspecting a good or providing a service.

Improving the efficiency of the manufacturing cycle involves decreasing the time spent processing a good.

Monet Co.has provided the following information for last year: The total labor cost (rounded)is:

The ABC Manufacturing Company collected the following information (in days): What is the manufacturing cycle time?

The Alma Company collected the following information (in days): What is the manufacturing cycle time?

If a manager wants to assess performance relative to the industry,it is best to use

One disadvantage of using nonfinancial measures to evaluate performance is that they are only available on a monthly,quarterly,or annual basis.

Which of the following statements is (are)false? (A)Internal,regional,and local benchmarks should be used for the most important processes and activities in an organization. (B)In general,the use of multiple measures to evaluate performance is better than that use of a single performance measure.

Cost Accounting: Information for Decision Making

Fundamentals of Cost-Volume-Profit Analysis

Fundamentals of Cost Analysis for Decision Making

Cost Estimation

Fundamentals of Product and Service Costing

Job Costing

Process Costing

Activity-Based Costing

Service Department and Joint Cost Allocation

Fundamentals of Management Control Systems

Planning and Budgeting

Business Unit Performance Measurement

Transfer Pricing

Fundamentals of Variance Analysis

Additional Topics in Variance Analysis

Filters

Exam 18: Nonfinancial and Multiple Measures of Performance

Which of the following is not a mistake often made when measuring nonfinancial performance?

Employees empowered with real decision-making authority are more likely to be more responsive to customer concerns.

Which of the following statements is (are)true regarding performance measures? (A)In general,objective performance measures are better than subjective performance measures. (B)In general,the use of multiple performance measures is better than the use of single performance measures.

A balanced scorecard is basically a balance sheet prepared using nonfinancial measures.

Partial productivity measures are most closely related to what type of variances?

The QRT Company collected the following information (in days): What is the manufacturing cycle time?

The Alma Company collected the following information (in days): What is the manufacturing cycle efficiency?

A balanced scorecard uses only nonfinancial measures to determine how well the organization is doing in view of competing stakeholder concerns.

One reason financial measures are used to evaluate performance is that they are easily quantifiable.

One advantage of nonfinancial measures is that managers directly involved in operations are likely to understand them.

Explain how nonfinancial performance measures for customer satisfaction may differ from functional performance measures.

The Cascade Machining Co has the following information for last year The partial productivity for metal is

Manufacturing cycle time is the total time involved in processing,moving,storing,and inspecting a good or providing a service.

Improving the efficiency of the manufacturing cycle involves decreasing the time spent processing a good.

Monet Co.has provided the following information for last year: The total labor cost (rounded)is:

The ABC Manufacturing Company collected the following information (in days): What is the manufacturing cycle time?

The Alma Company collected the following information (in days): What is the manufacturing cycle time?

If a manager wants to assess performance relative to the industry,it is best to use

One disadvantage of using nonfinancial measures to evaluate performance is that they are only available on a monthly,quarterly,or annual basis.

Which of the following statements is (are)false? (A)Internal,regional,and local benchmarks should be used for the most important processes and activities in an organization. (B)In general,the use of multiple measures to evaluate performance is better than that use of a single performance measure.

Cost Accounting: Information for Decision Making

Fundamentals of Cost-Volume-Profit Analysis

Fundamentals of Cost Analysis for Decision Making

Cost Estimation

Fundamentals of Product and Service Costing

Job Costing

Process Costing

Activity-Based Costing

Service Department and Joint Cost Allocation

Fundamentals of Management Control Systems

Planning and Budgeting

Business Unit Performance Measurement

Transfer Pricing

Fundamentals of Variance Analysis

Additional Topics in Variance Analysis

Filters