Question 1

Listed below are several possible combinations for producing 10,000 units of a product:
   Required:

Accepted Answer

The answer of Listed below are several possible combinations for...

Question 2

The departments or cells that contain all the related operations needed to produce a family of products are called __________ .

Accepted Answer

The answer of The departments or cells that contain all...

Question 3

Allocating efficiency chooses the least costly, technically efficient combination of inputs.

Accepted Answer

A) True 
 B)False

Question 4

The value stream focuses on just value-added activities.

Accepted Answer

A) True 
 B)False

Question 5

Figure 15-2 The following information relates to Cranmore Manufacturing:
To produce a unit of product:
  There is a wait time of 5 minutes before the cutting department begins a batch, 15 minutes between the cutting and welding departments, a move and pre-wait between welding and polishing of 12 minutes, and a move and pre-wait between the polishing and finishing departments of 8 minutes.
Refer to Figure 15-2. What is the cycle time of operation?

Accepted Answer

A)  60 minutes 
B)  20 minutes 
C)  35 minutes 
D)  16 minutes 
A)  60 minutes 
B)  20 minutes 
C)  35 minutes 
D)  16 minutes

Question 6

In a lean environment, many overhead costs are assigned to products as directly __________ costs.

Accepted Answer

The answer of In a lean environment, many overhead costs...

Question 7

The departments or cells which contain all the operations in close proximity that are needed to produce a family of products.

Accepted Answer

A)  Manufacturing cells 
B)  Value stream cells 
C)  Batch departments 
D)  Plant departments 
A)  Manufacturing cells 
B)  Value stream cells 
C)  Batch departments 
D)  Plant departments

Question 8

The assessment of the amount of profit change-from the base period to the current period-attributable to productivity changes is called:

Accepted Answer

A)  Profit-linked productivity measurement 
B)  Profile measurement 
C)  Price recovery component 
D)  Total productivity measurement 
A)  Profit-linked productivity measurement 
B)  Profile measurement 
C)  Price recovery component 
D)  Total productivity measurement

Question 9

The features and characteristics approach

Accepted Answer

A)  focuses only on total quality, zero-defects. 
B)  recognizes the cost of a product is determined by the rate of flow of the product through the value stream. 
C)  recognizes the cost of a product is determined by the amount of labor time required to make the product. 
D)  recognizes the cost of a product is determined by the amount of machine hours required to make the product. 
A)  focuses only on total quality, zero-defects. 
B)  recognizes the cost of a product is determined by the rate of flow of the product through the value stream. 
C)  recognizes the cost of a product is determined by the amount of labor time required to make the product. 
D)  recognizes the cost of a product is determined by the amount of machine hours required to make the product.

Question 10

Under features and characteristics costing, conversion costs are normally assigned

Accepted Answer

A)  using a predetermined overhead rate. 
B)  using a labor rate. 
C)  based on proportion of production. 
D)  using a conversion ratio that considers different features. 
A)  using a predetermined overhead rate. 
B)  using a labor rate. 
C)  based on proportion of production. 
D)  using a conversion ratio that considers different features.

Question 11

The processing department can produce one unit every 5 minutes and is the last department before the finishing department. Under traditional manufacturing where a batch equals 10 units, how long will it be before the first unit in the batch can move from the processing department to the finishing department?

Accepted Answer

A)  5 minutes 
B)  50 minutes 
C)  10 minutes 
D)  not enough information is given 
A)  5 minutes 
B)  50 minutes 
C)  10 minutes 
D)  not enough information is given

Question 12

Changes in product-costing and operational control approaches are crucial to a value-stream based lean manufacturing system.

Accepted Answer

A) True 
 B)False

Question 13

Lean manufacturing is best defined as

Accepted Answer

A)  an operating approach that reports on the effectiveness of the management of the organization. 
B)  an operating approach designed to eliminate waste and maximize customer value. 
C)  an operating approach that is designed to analyze the activities of the organization. 
D)  an operating approach that is designed to compute variances between expectations and actual performance. 
A)  an operating approach that reports on the effectiveness of the management of the organization. 
B)  an operating approach designed to eliminate waste and maximize customer value. 
C)  an operating approach that is designed to analyze the activities of the organization. 
D)  an operating approach that is designed to compute variances between expectations and actual performance.

Question 14

Reducing the time it takes to configure equipment to produce a different product is an example of

Accepted Answer

A)  cellular manufacturing. 
B)  batch processing. 
C)  reduced setup/changeover times. 
D)  value flow stream. 
A)  cellular manufacturing. 
B)  batch processing. 
C)  reduced setup/changeover times. 
D)  value flow stream.

Question 15

The new product value stream focuses on

Accepted Answer

A)  developing new products for new customers. 
B)  providing current products to current customers. 
C)  providing current products to new customers and new products to new customers. 
D)  the production, sale, and delivery of products. 
A)  developing new products for new customers. 
B)  providing current products to current customers. 
C)  providing current products to new customers and new products to new customers. 
D)  the production, sale, and delivery of products.

Question 16

The measure of input and output used by an operational productivity measure is called:

Accepted Answer

A)  revenues 
B)  costs 
C)  physical quantities 
D)  dollars 
A)  revenues 
B)  costs 
C)  physical quantities 
D)  dollars

Question 17

The component which provides a server or vector of separate and distinct partial operational measures is called __________ measurement.

Accepted Answer

The answer of The component which provides a server or...

Question 18

The two approaches for measuring total productivity are

Accepted Answer

A)  profile measurement and profit-linked productivity measurement. 
B)  partial productivity measures and relative proportions. 
C)  allocative efficiency and technical efficiency. 
D)  ABC and ABM. 
A)  profile measurement and profit-linked productivity measurement. 
B)  partial productivity measures and relative proportions. 
C)  allocative efficiency and technical efficiency. 
D)  ABC and ABM.

Question 19

The quantitative assessment of productivity changes is called:

Accepted Answer

A)  Productivity measurement 
B)  Operational productivity measure 
C)  Technical efficiency 
D)  Financial productivity measure 
A)  Productivity measurement 
B)  Operational productivity measure 
C)  Technical efficiency 
D)  Financial productivity measure

Question 20

Employee empowerment is a major difference between traditional and lean environments.

Accepted Answer

A) True 
 B)False

Listed below are several possible combinations for producing 10,000 units of a product: Required:

The departments or cells that contain all the related operations needed to produce a family of products are called __________ .

Allocating efficiency chooses the least costly, technically efficient combination of inputs.

The value stream focuses on just value-added activities.

In a lean environment, many overhead costs are assigned to products as directly __________ costs.

The departments or cells which contain all the operations in close proximity that are needed to produce a family of products.

The assessment of the amount of profit change-from the base period to the current period-attributable to productivity changes is called:

The features and characteristics approach

Under features and characteristics costing, conversion costs are normally assigned

Changes in product-costing and operational control approaches are crucial to a value-stream based lean manufacturing system.

Lean manufacturing is best defined as

Reducing the time it takes to configure equipment to produce a different product is an example of

The new product value stream focuses on

The measure of input and output used by an operational productivity measure is called:

The component which provides a server or vector of separate and distinct partial operational measures is called __________ measurement.

The two approaches for measuring total productivity are

The quantitative assessment of productivity changes is called:

Employee empowerment is a major difference between traditional and lean environments.

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

Listed below are several possible combinations for producing 10,000 units of a product: Required:

The departments or cells that contain all the related operations needed to produce a family of products are called __________ .

Allocating efficiency chooses the least costly, technically efficient combination of inputs.

The value stream focuses on just value-added activities.

In a lean environment, many overhead costs are assigned to products as directly __________ costs.

The departments or cells which contain all the operations in close proximity that are needed to produce a family of products.

The assessment of the amount of profit change-from the base period to the current period-attributable to productivity changes is called:

The features and characteristics approach

Under features and characteristics costing, conversion costs are normally assigned

Changes in product-costing and operational control approaches are crucial to a value-stream based lean manufacturing system.

Lean manufacturing is best defined as

Reducing the time it takes to configure equipment to produce a different product is an example of

The new product value stream focuses on

The measure of input and output used by an operational productivity measure is called:

The component which provides a server or vector of separate and distinct partial operational measures is called __________ measurement.

The two approaches for measuring total productivity are

The quantitative assessment of productivity changes is called:

Employee empowerment is a major difference between traditional and lean environments.

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