Exam 11: Conversion Processes

RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. At RAM Manufacturing every production order must be approved by an authorized employee. As part of an internal audit, Joan, a newly hired internal auditor, is checking the list of authorized approvers for production orders approved in January. Which Production order(s) should be investigated further based on the data in the tables below? $\text{Authorized Approvers Table}$ Employee Authorization ID Level 23456 \ 10,000 23654 \ 10,000 23777 \ 50,000 23787 \ 10,000 23799 \ 100,000 $\text{Authorized Production Orders}$ Production Approver Production Authorization Order ID Order Value Date 4322 23456 \ 5,780 1/2/202 4323 23654 \ 6,890 1/4/202 4324 23777 \ 27,430 1/6/202 4325 23799 \ 67,810 1/9/202 4326 23456 \ 6,780 1/13/202 4327 23654 \ 3,210 1/16/202 4328 23809 \ 2,480 1/18/202 4329 23777 \ 35,680 1/22/202 4330 23456 \ 3,240 1/26/202 4331 23809 \ 1,340 1/28/202

RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. Maeve is a newly hired cost accountant. RAM Manufacturing's has developed a new disc brake that lasts longer than brakes from their competitors. After calculating all the direct, indirect and overhead costs, Maeve assigns a cost of $44.50 per disc brake assembly. RAM Manufacturing has manufactured 100,000 of their new disc brake and sold 60,000 to their largest customer. After shipping the 60,000 disc brakes to this largest customer, what is their cost of goods sold?

What are the source document output(s) of the Manufacturing Operations process?

Choose from the following selections the best definition of the Product Development process.

Production reports range from source documents to key metrics. Which is the best description of production orders filled and open?

RAM Manufacturing LLC is a rapidly growing manufacturer of parts for the automotive industry. Justin, the Chief Information Officer (CIO) of RAM Manufacturing, was recently tasked with leading the implementation of an Enterprise Resource Planning (ERP) system for RAM Manufacturing. One of the key areas of focus for the ERP project is the conversion process. Justin has assigned Maeve, a recently hired systems analyst, to lead the conversion process. What 11 ERP features should be considered by Maeve in the conversion process?

Choose from the following selections the best definition of the Manufacturing Operations process.

A digital factory that is connected, networked, and fully integrated creates opportunities to minimize costs of downtime and underperformance in production and to enable the best output from factory assets and employees. What is a challenge that companies face when using digital manufacturing?

What is one of the key tables that store data needed in the manufacturing conversion process?

Choose the best definition of digital manufacturing from the choices below.

Traditional cost accounting assigns production costs differently, depending on the product or service. Which choice below best describes job-order costing?

Choose the best definition of digital twin from the choices below.

Which control activity listed below is a manufacturing operations control activity?

For accounting purposes, the salaries, wages, and benefit expenses of a quality control inspector would be classified as what?

GAAP for financial reporting requires that a manufacturer's inventory on the balance sheet and cost of goods sold on the income statement consist of: the cost of direct materials, the cost of direct labor, and

A digital factory that is connected, networked, and fully integrated creates opportunities to minimize costs of downtime and underperformance in production and to enable the best output from factory assets and employees. What is an advantage that companies see by using digital manufacturing?

Which control activity listed below is a production planning and scheduling control activity?

The manufacturing conversion and supply chain management processes involve 11 ERP features from the Financial, Production, and Supply Chain Management modules. Which of the following modules is part of the manufacturing conversion and supply chain management processes?

For accounting purposes, the costs of the steel consumed in the manufacture of a brake drum would be classified as what?

A digital factory that is connected, networked, and fully integrated creates opportunities to minimize costs of downtime and underperformance in production and to enable the best output from factory assets and employees. What is an advantage that companies see by using digital manufacturing?