Question 1

_____ manufacturing principles emphasize quality and zero defects.

Accepted Answer

A) Traditional 
B) Lean 
C) Zero-based 
D) Chinese 
A) Traditional 
B) Lean 
C) Zero-based 
D) Chinese

Question 2

One inherent risk to using lean principles is that companies are at higher risk of inventory shortages during volatile times caused by strikes, adverse weather, etc., than when using traditional manufacturing principles.

Accepted Answer

A) True 
 B)False

Question 3

In a push manufacturing system, production is based on estimated customer demand.

Accepted Answer

A) True 
 B)False

Question 4

With lean manufacturing, employees are trained to be experts in one operation.

Accepted Answer

A) True 
 B)False

Question 5

In a lean accounting system, there are fewer transactions to record than there are in a traditional accounting system.

Accepted Answer

A) True 
 B)False

Question 6

Schedule of Activity Costs   ​
-When using lean principles and activity analyses with service businesses, the "product" is normally

Accepted Answer

A) an employee 
B) information 
C) the customer 
D) the supplies used in providing the service 
A) an employee 
B) information 
C) the customer 
D) the supplies used in providing the service

Question 7

Match each of the following quality control activities with the appropriate classification (a or b).
-Inspecting materials
A)Value-added
B)Non-value-added

Accepted Answer

The answer of Match each of the following quality control...

Question 8

In a push manufacturing system, production is based on actual customer orders.

Accepted Answer

A) True 
 B)False

Question 9

Actions that transform a traditional manufacturing environment to a lean environment include all of the following except

Accepted Answer

A) form partnerships with reliable suppliers 
B) reorganize manufacturing around products rather than processes 
C) train employees to perform various operations 
D) increase raw materials and finished goods inventories 
A) form partnerships with reliable suppliers 
B) reorganize manufacturing around products rather than processes 
C) train employees to perform various operations 
D) increase raw materials and finished goods inventories

Question 10

Match each of the following quality control activities with the appropriate classification (a or b).
-Providing customer service calls
A)Value-added
B)Non-value-added

Accepted Answer

The answer of Match each of the following quality control...

Question 11

Which of the following is best suited to providing timely and focused performance information?

Accepted Answer

A) nonfinancial information 
B) financial accounting information 
C) cost accounting information 
D) variance analysis 
A) nonfinancial information 
B) financial accounting information 
C) cost accounting information 
D) variance analysis

Question 12

Schedule of Activity Costs   ​
-From the provided schedule of activity costs, determine the total activity cost.

Accepted Answer

A) $62,000 
B) $179,000 
C) $94,000 
D) $241,000 
A) $62,000 
B) $179,000 
C) $94,000 
D) $241,000

Question 13

Which of the following is an example of a nonfinancial measure of performance used in lean manufacturing?

Accepted Answer

A) lead time 
B) setup time 
C) number of units scrapped 
D) all of these choices 
A) lead time 
B) setup time 
C) number of units scrapped 
D) all of these choices

Question 14

Within-batch wait time increases total lead time.

Accepted Answer

A) True 
 B)False

Question 15

Christmas Express makes wreaths in batch sizes of 12. The cutting and assembly process takes 8 minutes per wreath, and the decorating process time is 10 minutes per wreath. It takes 12 minutes to move the wreaths from the cutting and assembly process to the decorating process.​
a. Compute the value-added, non-value-added, and total lead times of the wreath process.
b. Compute the value-added ratio. Round to one decimal place.

Accepted Answer

a. @#IMG-DLM& b. Val

Question 16

With lean manufacturing, financial accounting information is used more often for long-term operating decisions and nonfinancial measures are used more often for day-to-day decisions.

Accepted Answer

A) True 
 B)False

Question 17

Schedule of Activity Costs   ​
-From the provided schedule of activity costs, determine the external failure costs.

Accepted Answer

A) $39,000 
B) $19,000 
C) $12,000 
D) $31,000 
A) $39,000 
B) $19,000 
C) $12,000 
D) $31,000

Question 18

Lead time reduction can be a cost-saving goal for any processed item.

Accepted Answer

A) True 
 B)False

Question 19

In a lean environment, process problems are less visible than they are in a traditional environment.

Accepted Answer

A) True 
 B)False

Question 20

From the provided schedule of activity costs, determine the (a) prevention and (b) appraisal costs.

Accepted Answer

a. $102,000 = $26,00

Exam 27: Lean Manufacturing and Activity Analysis

_____ manufacturing principles emphasize quality and zero defects.

One inherent risk to using lean principles is that companies are at higher risk of inventory shortages during volatile times caused by strikes, adverse weather, etc., than when using traditional manufacturing principles.

In a push manufacturing system, production is based on estimated customer demand.

With lean manufacturing, employees are trained to be experts in one operation.

In a lean accounting system, there are fewer transactions to record than there are in a traditional accounting system.

Schedule of Activity Costs ​ -When using lean principles and activity analyses with service businesses, the "product" is normally

Match each of the following quality control activities with the appropriate classification (a or b). -Inspecting materials A)Value-added B)Non-value-added

In a push manufacturing system, production is based on actual customer orders.

Actions that transform a traditional manufacturing environment to a lean environment include all of the following except

Match each of the following quality control activities with the appropriate classification (a or b). -Providing customer service calls A)Value-added B)Non-value-added

Which of the following is best suited to providing timely and focused performance information?

Schedule of Activity Costs ​ -From the provided schedule of activity costs, determine the total activity cost.

Which of the following is an example of a nonfinancial measure of performance used in lean manufacturing?

Within-batch wait time increases total lead time.

With lean manufacturing, financial accounting information is used more often for long-term operating decisions and nonfinancial measures are used more often for day-to-day decisions.

Schedule of Activity Costs ​ -From the provided schedule of activity costs, determine the external failure costs.

Lead time reduction can be a cost-saving goal for any processed item.

In a lean environment, process problems are less visible than they are in a traditional environment.

From the provided schedule of activity costs, determine the (a) prevention and (b) appraisal costs.

Introduction to Accounting and Business

Analyzing Transactions

The Adjusting Process

The Accounting Cycle

Accounting for Retail Businesses

Inventories

Internal Control and Cash

Receivables

Long-Term Assets: Fixed and Intangible

Liabilities: Current, Installment Notes, and Contingencies

Liabilities: Bonds Payable

Corporations: Organization, Stock Transactions, and Dividends

Statement of Cash Flows

Financial Statement Analysis

Introduction to Managerial Accounting

Job Order Costing

Process Cost Systems

Activity-Based Costing

Support Department and Joint Cost Allocation

Cost-Volume-Profit Analysis

Variable Costing for Management Analysis

Budgeting

Evaluating Variances From Standard Costs

Evaluating Decentralized Operations

Differential Analysis and Product Pricing

Capital Investment Analysis

The Balanced Scorecard and Corporate Social Responsibility

Investments

Filters

Schedule of Activity Costs -When using lean principles and activity analyses with service businesses, the "product" is normally

Schedule of Activity Costs -From the provided schedule of activity costs, determine the total activity cost.

Schedule of Activity Costs -From the provided schedule of activity costs, determine the external failure costs.