Question 1

The worth of one or more features of a product for which the customer is willing to pay is defined as:

Accepted Answer

A)  Value 
B)  Quality 
C)  Efficiency 
D)  Innovation 
A)  Value 
B)  Quality 
C)  Efficiency 
D)  Innovation

Question 2

Information about Harlequin Corporation is as follows:   By how much did profits change as a result of changes in productivity related to materials?

Accepted Answer

A)  $550.00 decrease 
B)  $312.50 decrease 
C)  $550.00 increase 
D)  $312.50 increase 
A)  $550.00 decrease 
B)  $312.50 decrease 
C)  $550.00 increase 
D)  $312.50 increase

Question 3

At the end of 2014, Diatomic Company implemented a new labor process and redesigned its product with the expectation that input usage efficiency would increase. Now, at the end of 2015, the president of the company wants an assessment of the changes on the company's productivity. The data needed for the assessment are as follows:   What is the partial operational measure for power for 2015?

Accepted Answer

A)  3.69 
B)  1.00 
C)  1.15 
D)  4.00 
A)  3.69 
B)  1.00 
C)  1.15 
D)  4.00

Question 4

Figure 15-4     Refer to Figure 15-4. If the materials costs for both products are $75 per unit produced, and conversion costs are $120 per hour, what is the unit cost of Product B under the features and approach costing method?

Accepted Answer

A)  $190 per unit 
B)  $95 per unit 
C)  $91 per unit 
D)  $92 per unit 
A)  $190 per unit 
B)  $95 per unit 
C)  $91 per unit 
D)  $92 per unit

Question 5

The following data is recorded by the Antonio Company:   What is the partial operational productivity measure for labor for 2014?

Accepted Answer

A)  2.4 
B)  2.8 
C)  0.4 
D)  2.5 
A)  2.4 
B)  2.8 
C)  0.4 
D)  2.5

Question 6

To identify value streams using a two-dimensional matrix, the following two items must be utilized:

Accepted Answer

A)  value indicators; costs 
B)  activities/processes; costs 
C)  quality indicators; products 
D)  activities/processes; products 
A)  value indicators; costs 
B)  activities/processes; costs 
C)  quality indicators; products 
D)  activities/processes; products

Question 7

Holstein Company produces pants that use two inputs-materials and labor. During the past quarter, 1,000 units were produced, requiring 2,000 pounds of material and 1,000 hours of labor. An engineering efficiency study commissioned by the local university revealed that Holstein Company can produce the same output of 1,000 units using either of the following two combinations of inputs:
   The cost of materials is $2.50 per pound; the cost of labor is $5 per hour.
Required:

Accepted Answer

The answer of Holstein Company produces pants that use two...

Question 8

The document used by the lean control system that compares operational, capacity, and financial metrics with prior week performances and with a future desired state is called:

Accepted Answer

A)  balanced scorecard 
B)  profit analysis worksheet 
C)  box scorecard 
D)  performance improvement plan 
A)  balanced scorecard 
B)  profit analysis worksheet 
C)  box scorecard 
D)  performance improvement plan

Question 9

At the end of 2014, Diatomic Company implemented a new labor process and redesigned its product with the expectation that input usage efficiency would increase. Now, at the end of 2015, the president of the company wants an assessment of the changes on the company's productivity. The data needed for the assessment are as follows:   What is the partial operational measure for labor for 2014?

Accepted Answer

A)  2.50 
B)  3.20 
C)  1.00 
D)  1.25 
A)  2.50 
B)  3.20 
C)  1.00 
D)  1.25

Question 10

Lean manufacturing is concerned with eliminating waste in manufacturing processes.

Accepted Answer

A) True 
 B)False

Question 11

What is the usual formula for calculating product costs for value streams with multiple products?

Accepted Answer

A)  total value stream cost of period / units shipped for period 
B)  budgeted value stream cost of period / units shipped for period 
C)  total value stream cost of period / units sold for period 
D)  budgeted value stream cost of period / forecasted units shipped for period 
A)  total value stream cost of period / units shipped for period 
B)  budgeted value stream cost of period / units shipped for period 
C)  total value stream cost of period / units sold for period 
D)  budgeted value stream cost of period / forecasted units shipped for period

Question 12

Figure 15 - 3 Based on the following information:
  Refer to Figure 15-3. What is the product cost based on total average conversion cost? (Round to nearest cent.)

Accepted Answer

A)  $100.56 
B)  $48.32 
C)  $36.04 
D)  $50.78 
A)  $100.56 
B)  $48.32 
C)  $36.04 
D)  $50.78

Question 13

The following data is recorded by the Antonio Company:   What is the partial operational productivity measure for labor for 2015?

Accepted Answer

A)  3.300 
B)  2.500 
C)  2.400 
D)  2.325 
A)  3.300 
B)  2.500 
C)  2.400 
D)  2.325

Question 14

At the end of 2014, Diatomic Company implemented a new labor process and redesigned its product with the expectation that input usage efficiency would increase. Now, at the end of 2015, the president of the company wants an assessment of the changes on the company's productivity. The data needed for the assessment are as follows:   How much profit was generated in 2014?

Accepted Answer

A)  $450,000 
B)  $292,500 
C)  $270,000 
D)  $180,000 
A)  $450,000 
B)  $292,500 
C)  $270,000 
D)  $180,000

Question 15

Which of the following conditions is NOT an example of technical efficiencies?

Accepted Answer

A)  More output; fewer inputs 
B)  Same output; fewer inputs 
C)  More output; same inputs 
D)  Less output; less inputs 
A)  More output; fewer inputs 
B)  Same output; fewer inputs 
C)  More output; same inputs 
D)  Less output; less inputs

Question 16

Information about Haulover Company is as follows:   What is the partial operational productivity measure for labor for 2015?

Accepted Answer

A)  1.67 
B)  5.00 
C)  5.25 
D)  2.50 
A)  1.67 
B)  5.00 
C)  5.25 
D)  2.50

Question 17

Information about Kerkonian Corporation is as follows:   What is the price-recovery component?

Accepted Answer

A)  $5,825.00 
B)  $5,687.50 
C)  $5,550.00 
D)  $137.50 
A)  $5,825.00 
B)  $5,687.50 
C)  $5,550.00 
D)  $137.50

Question 18

The Marakesh Company provides the following data:   What is the partial operational productivity measure for materials for 2015?

Accepted Answer

A)  3.2000 
B)  0.3125 
C)  0.3077 
D)  3.2500 
A)  3.2000 
B)  0.3125 
C)  0.3077 
D)  3.2500

Question 19

Figure 15-1 The following information relates to Lancashire Manufacturing:
To produce a unit of product:
  There is a wait time of 8 minutes before the mixing department begins a batch, 5 minutes between the mixing and molding departments, a move and pre-wait between molding and casting of 10 minutes, and a move and pre-wait between the casting and finishing departments of 12 minutes.
Refer to Figure 15-1. What is the production rate?

Accepted Answer

A)  8.6 units per hour 
B)  7 units per hour 
C)  21 units per hour 
D)  19 units per hour 
A)  8.6 units per hour 
B)  7 units per hour 
C)  21 units per hour 
D)  19 units per hour

Question 20

An assessment of productive efficiency for all inputs combined is called __________ measurement.

Accepted Answer

The answer of An assessment of productive efficiency for all...

The worth of one or more features of a product for which the customer is willing to pay is defined as:

Information about Harlequin Corporation is as follows: By how much did profits change as a result of changes in productivity related to materials?

Figure 15-4 Refer to Figure 15-4. If the materials costs for both products are $75 per unit produced, and conversion costs are $120 per hour, what is the unit cost of Product B under the features and approach costing method?

The following data is recorded by the Antonio Company: What is the partial operational productivity measure for labor for 2014?

To identify value streams using a two-dimensional matrix, the following two items must be utilized:

The document used by the lean control system that compares operational, capacity, and financial metrics with prior week performances and with a future desired state is called:

Lean manufacturing is concerned with eliminating waste in manufacturing processes.

What is the usual formula for calculating product costs for value streams with multiple products?

Figure 15 - 3 Based on the following information: Refer to Figure 15-3. What is the product cost based on total average conversion cost? (Round to nearest cent.)

The following data is recorded by the Antonio Company: What is the partial operational productivity measure for labor for 2015?

Which of the following conditions is NOT an example of technical efficiencies?

Information about Haulover Company is as follows: What is the partial operational productivity measure for labor for 2015?

Information about Kerkonian Corporation is as follows: What is the price-recovery component?

The Marakesh Company provides the following data: What is the partial operational productivity measure for materials for 2015?

An assessment of productive efficiency for all inputs combined is called __________ measurement.

Introduction to Cost Management

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control Key

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance Evaluation, and Transfer Pricing

Strategic Cost Management

Activity-Based Management

The Balanced Scorecard: Strategic-Based Control

Quality and Environmental Cost Management

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

Filters

Exam 15: Lean Accounting and Productivity Measurement

The worth of one or more features of a product for which the customer is willing to pay is defined as:

Information about Harlequin Corporation is as follows: By how much did profits change as a result of changes in productivity related to materials?

Figure 15-4 Refer to Figure 15-4. If the materials costs for both products are $75 per unit produced, and conversion costs are $120 per hour, what is the unit cost of Product B under the features and approach costing method?

The following data is recorded by the Antonio Company: What is the partial operational productivity measure for labor for 2014?

To identify value streams using a two-dimensional matrix, the following two items must be utilized:

The document used by the lean control system that compares operational, capacity, and financial metrics with prior week performances and with a future desired state is called:

Lean manufacturing is concerned with eliminating waste in manufacturing processes.

What is the usual formula for calculating product costs for value streams with multiple products?

Figure 15 - 3 Based on the following information: Refer to Figure 15-3. What is the product cost based on total average conversion cost? (Round to nearest cent.)

The following data is recorded by the Antonio Company: What is the partial operational productivity measure for labor for 2015?

Which of the following conditions is NOT an example of technical efficiencies?

Information about Haulover Company is as follows: What is the partial operational productivity measure for labor for 2015?

Information about Kerkonian Corporation is as follows: What is the price-recovery component?

The Marakesh Company provides the following data: What is the partial operational productivity measure for materials for 2015?

An assessment of productive efficiency for all inputs combined is called __________ measurement.

Introduction to Cost Management

Basic Cost Management Concepts

Cost Behavior

Activity-Based Costing

Product and Service Costing: Job-Order System

Process Costing

Allocating Costs of Support Departments and Joint Products

Budgeting for Planning and Control Key

Standard Costing: a Functional-Based Control Approach

Decentralization: Responsibility Accounting, Performance Evaluation, and Transfer Pricing

Strategic Cost Management

Activity-Based Management

The Balanced Scorecard: Strategic-Based Control

Quality and Environmental Cost Management

Cost-Volume-Profit Analysis

Activity Resource Usage Model and Tactical Decision Making

Pricing and Profitability Analysis

Capital Investment

Inventory Management: Economic Order Quantity, Jit, and the Theory of Constraints

Filters