Question 1

The assessment of productive efficiency for all inputs combined is called:

Accepted Answer

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

Question 2

Lean manufacturing shares many of the same methodologies as

Accepted Answer

A)  activity-based management. 
B)  JIT manufacturing. 
C)  process costing. 
D)  none of the above. 
A)  activity-based management. 
B)  JIT manufacturing. 
C)  process costing. 
D)  none of the above.

Question 3

Information about Taekwondo Corporation is as follows:   What is the labor productivity ratio for 2014?

Accepted Answer

A)  12.5 
B)  8.0 
C)  10.0 
D)  6.0 
A)  12.5 
B)  8.0 
C)  10.0 
D)  6.0

Question 4

Technical efficiency is concerned with a given input using no more than needed output.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is NOT considered a major source of waste?

Accepted Answer

A)  costs spent on defect detection 
B)  unnecessary movement of goods 
C)  unnecessary transport of goods 
D)  design of goods and services that don't meet the needs of the customer 
A)  costs spent on defect detection 
B)  unnecessary movement of goods 
C)  unnecessary transport of goods 
D)  design of goods and services that don't meet the needs of the customer

Question 6

A difference between Toyota's lean manufacturing system and Ford's lean enterprise system is

Accepted Answer

A)  Toyota incorporated employee empowerment, team structure, cellular manufacturing, small batches, and reduced setup times as integral pieces of their system. 
B)  Toyota was not structured to deal with product variety. 
C)  Toyota valued process over employees. 
D)  Low volume products were not compatible with either system. 
A)  Toyota incorporated employee empowerment, team structure, cellular manufacturing, small batches, and reduced setup times as integral pieces of their system. 
B)  Toyota was not structured to deal with product variety. 
C)  Toyota valued process over employees. 
D)  Low volume products were not compatible with either system.

Question 7

The Kristofferson Company provides the following information:
   Required:

Accepted Answer

The answer of The Kristofferson Company provides the following information:
...

Question 8

The two lean accounting approaches are average-costing and value-stream cost reporting.

Accepted Answer

A) True 
 B)False

Question 9

Define what constitutes total productive efficiency, including a definition of technical efficiency and allocative efficiency.

Accepted Answer

Total productive efficiency is the point

Question 10

Figure 15-4     Refer to Figure 15-4. Under traditional costing methods, which product would have more overhead costs allocated?

Accepted Answer

A)  Product A because the first two cycles are bottlenecks 
B)  Product B because it has the highest individual cycle time in molding 
C)  Product A because it has the highest total cycle time 
D)  Unable to determine from information given 
A)  Product A because the first two cycles are bottlenecks 
B)  Product B because it has the highest individual cycle time in molding 
C)  Product A because it has the highest total cycle time 
D)  Unable to determine from information given

Question 11

Allocative efficiency can be defined as

Accepted Answer

A)  all non-value activities performed with minimal quantities needed to produce the given outputs. 
B)  elimination of all non-value-added activities. 
C)  input prices determining the relative proportions of each input that should be used. 
D)  input prices determining the relative proportions of each output that should be produced. 
A)  all non-value activities performed with minimal quantities needed to produce the given outputs. 
B)  elimination of all non-value-added activities. 
C)  input prices determining the relative proportions of each input that should be used. 
D)  input prices determining the relative proportions of each output that should be produced.

Question 12

The point at which technical and allocative efficiency are achieved is called __________ efficiency.

Accepted Answer

The answer of The point at which technical and allocative...

Question 13

Which of the following is a reason traditional costing approaches may NOT work in a lean manufacturing environment?

Accepted Answer

A)  Standard costing variances encourage overproduction. 
B)  Distorted product costs may conceal the outcome of success of a lean system. 
C)  Traditional operational controls work against demand-pull systems. 
D)  all of the above. 
A)  Standard costing variances encourage overproduction. 
B)  Distorted product costs may conceal the outcome of success of a lean system. 
C)  Traditional operational controls work against demand-pull systems. 
D)  all of the above.

Question 14

The productivity measure(s) in which inputs and outputs are expressed in dollars is(are) called:

Accepted Answer

A)  Productivity measurement 
B)  Operational productivity measures 
C)  Partial productivity measurement 
D)  Financial productivity measures 
A)  Productivity measurement 
B)  Operational productivity measures 
C)  Partial productivity measurement 
D)  Financial productivity measures

Question 15

Which of the following is NOT a limitation of a value stream cost assignment?

Accepted Answer

A)  Initially, it may not be possible to allocate all the people needed in a value stream to that stream exclusively. 
B)  There will always be some individuals whose related costs will remain outside of any particular value stream. 
C)  A value stream is usually organized around a family of products. 
D)  Having a value stream for each product is not practical. 
A)  Initially, it may not be possible to allocate all the people needed in a value stream to that stream exclusively. 
B)  There will always be some individuals whose related costs will remain outside of any particular value stream. 
C)  A value stream is usually organized around a family of products. 
D)  Having a value stream for each product is not practical.

Question 16

Information about Bodacious Corporation is as follows:   What is the materials productivity ratio for 2015?

Accepted Answer

A)  28 
B)  21 
C)  25 
D)  16 
A)  28 
B)  21 
C)  25 
D)  16

Question 17

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 2014?

Accepted Answer

A)  1.00 
B)  1.60 
C)  3.69 
D)  4.00 
A)  1.00 
B)  1.60 
C)  3.69 
D)  4.00

Question 18

At the end of 2014, Immaculate Productions 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:
   Required:

Accepted Answer

The answer of At the end of 2014, Immaculate Productions...

Question 19

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 A under the features and approach costing method?

Accepted Answer

A)  $87 per unit 
B)  $182 per unit 
C)  $91 per unit 
D)  $81.75 per unit 
A)  $87 per unit 
B)  $182 per unit 
C)  $91 per unit 
D)  $81.75 per unit

Question 20

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

Accepted Answer

A)  1.50 
B)  2.00 
C)  1.67 
D)  2.50 
A)  1.50 
B)  2.00 
C)  1.67 
D)  2.50

The assessment of productive efficiency for all inputs combined is called:

Lean manufacturing shares many of the same methodologies as

Information about Taekwondo Corporation is as follows: What is the labor productivity ratio for 2014?

Technical efficiency is concerned with a given input using no more than needed output.

Which of the following is NOT considered a major source of waste?

A difference between Toyota's lean manufacturing system and Ford's lean enterprise system is

The Kristofferson Company provides the following information: Required:

The two lean accounting approaches are average-costing and value-stream cost reporting.

Define what constitutes total productive efficiency, including a definition of technical efficiency and allocative efficiency.

Figure 15-4 Refer to Figure 15-4. Under traditional costing methods, which product would have more overhead costs allocated?

Allocative efficiency can be defined as

The point at which technical and allocative efficiency are achieved is called __________ efficiency.

Which of the following is a reason traditional costing approaches may NOT work in a lean manufacturing environment?

The productivity measure(s) in which inputs and outputs are expressed in dollars is(are) called:

Which of the following is NOT a limitation of a value stream cost assignment?

Information about Bodacious Corporation is as follows: What is the materials productivity ratio for 2015?

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 A under the features and approach costing method?

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

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 assessment of productive efficiency for all inputs combined is called:

Lean manufacturing shares many of the same methodologies as

Information about Taekwondo Corporation is as follows: What is the labor productivity ratio for 2014?

Technical efficiency is concerned with a given input using no more than needed output.

Which of the following is NOT considered a major source of waste?

A difference between Toyota's lean manufacturing system and Ford's lean enterprise system is

The Kristofferson Company provides the following information: Required:

The two lean accounting approaches are average-costing and value-stream cost reporting.

Define what constitutes total productive efficiency, including a definition of technical efficiency and allocative efficiency.

Figure 15-4 Refer to Figure 15-4. Under traditional costing methods, which product would have more overhead costs allocated?

Allocative efficiency can be defined as

The point at which technical and allocative efficiency are achieved is called __________ efficiency.

Which of the following is a reason traditional costing approaches may NOT work in a lean manufacturing environment?

The productivity measure(s) in which inputs and outputs are expressed in dollars is(are) called:

Which of the following is NOT a limitation of a value stream cost assignment?

Information about Bodacious Corporation is as follows: What is the materials productivity ratio for 2015?

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 A under the features and approach costing method?

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

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