Exam 3: Inventory, Productivity, Principles, and Costing Methodologies

Labour productivity measures the growth in value added _____ per unit of labour used.

TOC stands for _____________________.

____________ means change for the better.

A ______________ is the sequence of phases that a project goes through from its initiation to its closure.

________________ is an important part of lean thinking.

Target costing is a ___________ costing methodology, in which the selling price and the required profit margin are used to determine the allowable cost for manufacturing a new/existing product.

Porter argues that the ability to perform particularactivities and to manage the linkages between these activities is a source of _______________ advantage.

Regardless of how long it takes to produce and sell inventory, inventory is always considered to be a?

Pareto Principle is ______ rule.

A _______ is any factor that limits the organization from getting more of whatever it strives for.

Which of the following characteristics is relevant to process costing but not to job order costing?

_________ is referred to as continuous improvement costing.

_________ Costing Also known as delayed costing,

Which one of the following does not describe a type of transfer pricing?

During September, Khan had sales of 148,000, which made a gross profit of 40,000. Purchases amounted to 100,000 and opening inventory was 34,000. The value of closing inventory was?

The latest cost of inventories is changed to production but the old prices are changed to inventories on hand?

Kaizen is a method aimed at ______ reduction below standard level, but without negative effects on quality, staff, safety, etc.

What does FIFO mean?

Which of the following types of spoilage should not affect the recorded cost of inventories

Systematic evaluation of the trade-offs between product functionality and product cost while still satisfying customer needs is the definition of