Question 1

According to the just-in-time philosophy,

Accepted Answer

A) maintaining inventories wastes resources and frequently covers up poor work or other problems. 
B) push-through manufacturing flows are the most efficient. 
C) inventories of finished goods should always be available to meet customer demand. 
D) long production runs and large production lot sizes take advantage of economies of scale. 
A) maintaining inventories wastes resources and frequently covers up poor work or other problems. 
B) push-through manufacturing flows are the most efficient. 
C) inventories of finished goods should always be available to meet customer demand. 
D) long production runs and large production lot sizes take advantage of economies of scale.

Question 2

The actual amount of time that a product is being worked on is known as the

Accepted Answer

A) moving time. 
B) inspection time. 
C) processing time. 
D) queue time. 
A) moving time. 
B) inspection time. 
C) processing time. 
D) queue time.

Question 3

A value-adding activity is one that increases the cost of a product but does not add to the product's market value.

Accepted Answer

A) True 
 B)False

Question 4

For a manufacturer,the final customer is part of the supply chain and customer service is part of the value chain.

Accepted Answer

A) True 
 B)False

Question 5

Which of the following is the first step in assigning costs in the activity-based costing?

Accepted Answer

A) Analyze all nonvalue-adding activities to determine if they are necessary support areas 
B) Accumulate costs for each activity 
C) Identify and classify each activity 
D) Separate nonvalue-adding activities from value-adding activities 
A) Analyze all nonvalue-adding activities to determine if they are necessary support areas 
B) Accumulate costs for each activity 
C) Identify and classify each activity 
D) Separate nonvalue-adding activities from value-adding activities

Question 6

Which of the four levels of the cost hierarchy would be used by a dress manufacturer using an activity-based management for sewing seams on a garment?

Accepted Answer

A) Unit-level activity 
B) Batch-level activity 
C) Product-level activity 
D) Facility-level activity 
A) Unit-level activity 
B) Batch-level activity 
C) Product-level activity 
D) Facility-level activity

According to the just-in-time philosophy,

The actual amount of time that a product is being worked on is known as the

A value-adding activity is one that increases the cost of a product but does not add to the product's market value.

For a manufacturer,the final customer is part of the supply chain and customer service is part of the value chain.

Which of the following is the first step in assigning costs in the activity-based costing?

Which of the four levels of the cost hierarchy would be used by a dress manufacturer using an activity-based management for sewing seams on a garment?

Uses of Accounting Information and the Financial Statements

Measurement Concepts: Recording Business Transactions

Measuring Business Income: Adjusting the Accounts

Foundations of Financial Reporting and the Classified Balance Sheet

Accounting for Merchandising Operations

Inventories

Cash and Internal Control

Receivables

Long-Term Assets

Current Liabilities and Fair Value Accounting

Long-Term Liabilities

Stockholders Equity

The Statement of Cash Flows

Financial Statement Analysis

Managerial Accounting and Cost Concepts

Costing Systems: Job Order Costing

Costing Systems: Process Costing

Cost-Volume-Profit Analysis

The Budgeting Process

Flexible Budgets and Performance Analysis

Standard Costing and Variance Analysis

Short-Run Decision Analysis

Capital Investment Analysis

Pricing Decisions, including Target Costing and Transfer Pricing

Quality Management and Measurement

Accounting for Unincorporated Businesses

Accounting for Investments

Filters

Exam 18: Value-Based Systems: Activity-Based Costing and Lean Accounting

According to the just-in-time philosophy,

The actual amount of time that a product is being worked on is known as the

A value-adding activity is one that increases the cost of a product but does not add to the product's market value.

For a manufacturer,the final customer is part of the supply chain and customer service is part of the value chain.

Which of the following is the first step in assigning costs in the activity-based costing?

Which of the four levels of the cost hierarchy would be used by a dress manufacturer using an activity-based management for sewing seams on a garment?

Uses of Accounting Information and the Financial Statements

Measurement Concepts: Recording Business Transactions

Measuring Business Income: Adjusting the Accounts

Foundations of Financial Reporting and the Classified Balance Sheet

Accounting for Merchandising Operations

Inventories

Cash and Internal Control

Receivables

Long-Term Assets

Current Liabilities and Fair Value Accounting

Long-Term Liabilities

Stockholders Equity

The Statement of Cash Flows

Financial Statement Analysis

Managerial Accounting and Cost Concepts

Costing Systems: Job Order Costing

Costing Systems: Process Costing

Cost-Volume-Profit Analysis

The Budgeting Process

Flexible Budgets and Performance Analysis

Standard Costing and Variance Analysis

Short-Run Decision Analysis

Capital Investment Analysis

Pricing Decisions, including Target Costing and Transfer Pricing

Quality Management and Measurement

Accounting for Unincorporated Businesses

Accounting for Investments

Filters