Question 1

How does MRP II (manufacturing resource planning)expand on MRP (materials requirements planning)?

Accepted Answer

MRP is an older system that focused only

Question 2

Which of the following is not an assumption of the Economic Order Quantity model?

Accepted Answer

A)  demand for the product is known with certainty 
B)  total cost per year of placing orders is fixed 
C)  lead time is known and is constant 
D)  there are no quantity discounts 
A)  demand for the product is known with certainty 
B)  total cost per year of placing orders is fixed 
C)  lead time is known and is constant 
D)  there are no quantity discounts

Question 3

An excess materials requisition is a control that signals that a greater than standard quantity of materials is being ordered from the vendor.

Accepted Answer

A) True 
 B)False

Question 4

Process simplification focuses on

Accepted Answer

A)  using Computer Numerical Controlled machines which stand alone within a traditional setting 
B)  completely automating the manufacturing environment 
C)  reducing the complexity of the physical manufacturing layout of the shop floor 
D)  organizing the process into functional departments 
A)  using Computer Numerical Controlled machines which stand alone within a traditional setting 
B)  completely automating the manufacturing environment 
C)  reducing the complexity of the physical manufacturing layout of the shop floor 
D)  organizing the process into functional departments

Question 5

In traditional firms,information reporting

Accepted Answer

A)  provides financially oriented information relating to operations 
B)  presents detailed information about activities 
C)  shows the allocation of costs first to activities and then to cost objects 
D)  identifies nonessential activities 
A)  provides financially oriented information relating to operations 
B)  presents detailed information about activities 
C)  shows the allocation of costs first to activities and then to cost objects 
D)  identifies nonessential activities

Question 6

ABC assigns cost to cost objects based on their use of activities.

Accepted Answer

A) True 
 B)False

Question 7

The complexities of ABC have caused many firms to abandon this method in favor of a simpler accounting model called value stream accounting.

Accepted Answer

A) True 
 B)False

Question 8

If the daily demand is 40 units and the lead time is 12 days,the reorder point is

Accepted Answer

A)  52 units 
B)  48 units 
C)  480 units 
D)  none of the above 
A)  52 units 
B)  48 units 
C)  480 units 
D)  none of the above

Question 9

Traditional accounting assumes that products cause costs.ABC assumes that _________________ cause costs.

Accepted Answer

The answer of Traditional accounting assumes that products cause costs.ABC...

Question 10

Name five documents associated with batch production systems.

Accepted Answer

Sales forecast,production sche

Question 11

Lean manufacturing evolved from the Toyota Production System (TPS),which is based on the just-in-time (JIT)production model.

Accepted Answer

A) True 
 B)False

Question 12

A company's value stream map depicts only the value added activities needed to complete a process or product.

Accepted Answer

A) True 
 B)False

Question 13

Transaction authorization occurs in a traditional manufacturing environment in all of the following ways except

Accepted Answer

A)  production planning and control initiates production with a work order 
B)  movement of the work through the production process follows the move ticket 
C)  the sales department modifies work orders to match changes in demand 
D)  the materials requisition authorizes the storekeeper to release materials to the work centers 
A)  production planning and control initiates production with a work order 
B)  movement of the work through the production process follows the move ticket 
C)  the sales department modifies work orders to match changes in demand 
D)  the materials requisition authorizes the storekeeper to release materials to the work centers

Question 14

A manufacturing process that is organized into group technology cells utilizing no human labor is called

Accepted Answer

A)  islands of technology 
B)  process simplification 
C)  computer integrated manufacturing 
D)  traditional manufacturing 
A)  islands of technology 
B)  process simplification 
C)  computer integrated manufacturing 
D)  traditional manufacturing

Question 15

Which situation violates the segregation of functions control procedure?

Accepted Answer

A)  production planning and control is located apart from the work centers 
B)  inventory control maintains custody of inventory items 
C)  cost accounting has custody of and makes entries on cost records 
D)  work centers record direct labor on job tickets 
A)  production planning and control is located apart from the work centers 
B)  inventory control maintains custody of inventory items 
C)  cost accounting has custody of and makes entries on cost records 
D)  work centers record direct labor on job tickets

Question 16

What is the economic order quantity if the annual demand is 10,000 units,set up cost of placing each order is $3 and the holding cost per unit per year is $2?

Accepted Answer

A)  174 
B)  123 
C)  245 
D)  none of the above 
A)  174 
B)  123 
C)  245 
D)  none of the above

Question 17

All of the following are documents in batch process production systems except

Accepted Answer

A)  production schedule 
B)  route sheet 
C)  materials requisition 
D)  bill of manufacturing 
A)  production schedule 
B)  route sheet 
C)  materials requisition 
D)  bill of manufacturing

Question 18

Explain the conversion cycle.

Accepted Answer

A company's conversion cycle t

Question 19

Pull processing involves pulling products from the consumer end (demand),rather than pushing them from the production end (supply).

Accepted Answer

A) True 
 B)False

Question 20

An example of a continuous process is the production of

Accepted Answer

A)  wedding invitations 
B)  milk products 
C)  jet aircraft 
D)  all of the above 
A)  wedding invitations 
B)  milk products 
C)  jet aircraft 
D)  all of the above

How does MRP II (manufacturing resource planning)expand on MRP (materials requirements planning)?

Which of the following is not an assumption of the Economic Order Quantity model?

An excess materials requisition is a control that signals that a greater than standard quantity of materials is being ordered from the vendor.

Process simplification focuses on

In traditional firms,information reporting

ABC assigns cost to cost objects based on their use of activities.

The complexities of ABC have caused many firms to abandon this method in favor of a simpler accounting model called value stream accounting.

If the daily demand is 40 units and the lead time is 12 days,the reorder point is

Traditional accounting assumes that products cause costs.ABC assumes that _________________ cause costs.

Name five documents associated with batch production systems.

Lean manufacturing evolved from the Toyota Production System (TPS),which is based on the just-in-time (JIT)production model.

A company's value stream map depicts only the value added activities needed to complete a process or product.

Transaction authorization occurs in a traditional manufacturing environment in all of the following ways except

A manufacturing process that is organized into group technology cells utilizing no human labor is called

Which situation violates the segregation of functions control procedure?

What is the economic order quantity if the annual demand is 10,000 units,set up cost of placing each order is $3 and the holding cost per unit per year is $2?

All of the following are documents in batch process production systems except

Explain the conversion cycle.

Pull processing involves pulling products from the consumer end (demand),rather than pushing them from the production end (supply).

An example of a continuous process is the production of

The Information System: An Accountant’s Perspective

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

General Ledger, Financial Reporting, and Management Reporting Systems

Database Management Systems

The REA Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls : Sarbanes-Oxley and IT Governance

IT Controls : Security and Access

IT Controls : Systems Development Program Changes and Application Controls

Filters

Exam 7: The Conversion Cycle

How does MRP II (manufacturing resource planning)expand on MRP (materials requirements planning)?

Which of the following is not an assumption of the Economic Order Quantity model?

An excess materials requisition is a control that signals that a greater than standard quantity of materials is being ordered from the vendor.

Process simplification focuses on

In traditional firms,information reporting

ABC assigns cost to cost objects based on their use of activities.

The complexities of ABC have caused many firms to abandon this method in favor of a simpler accounting model called value stream accounting.

If the daily demand is 40 units and the lead time is 12 days,the reorder point is

Traditional accounting assumes that products cause costs.ABC assumes that _________________ cause costs.

Name five documents associated with batch production systems.

Lean manufacturing evolved from the Toyota Production System (TPS),which is based on the just-in-time (JIT)production model.

A company's value stream map depicts only the value added activities needed to complete a process or product.

Transaction authorization occurs in a traditional manufacturing environment in all of the following ways except

A manufacturing process that is organized into group technology cells utilizing no human labor is called

Which situation violates the segregation of functions control procedure?

What is the economic order quantity if the annual demand is 10,000 units,set up cost of placing each order is $3 and the holding cost per unit per year is $2?

All of the following are documents in batch process production systems except

Explain the conversion cycle.

Pull processing involves pulling products from the consumer end (demand),rather than pushing them from the production end (supply).

An example of a continuous process is the production of

The Information System: An Accountant’s Perspective

Introduction to Transaction Processing

Ethics, Fraud, and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

General Ledger, Financial Reporting, and Management Reporting Systems

Database Management Systems

The REA Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Construct, Deliver, and Maintain Systems Projects

IT Controls : Sarbanes-Oxley and IT Governance

IT Controls : Security and Access

IT Controls : Systems Development Program Changes and Application Controls

Filters