Question 1

The storekeeper releases raw materials based on the

Accepted Answer

A) production schedule 
B) materials requisition 
C) work order 
D) bill of materials 
A) production schedule 
B) materials requisition 
C) work order 
D) bill of materials B

Question 2

Which statement is not correct?

Accepted Answer

A) cost objects are the reasons for performing activities 
B) cost object describes the work performed in a firm 
C) activities cause costs 
D) cost objects create a demand for activities 
A) cost objects are the reasons for performing activities 
B) cost object describes the work performed in a firm 
C) activities cause costs 
D) cost objects create a demand for activities B

Question 3

Automation is at the heart of the lean manufacturing philosophy.Discuss its stages and its distinguishing features.

Accepted Answer

Automation of the manufacturing process can be viewed as a gradual progression.The stages are:
Traditional manufacturing,which consists of many different types of machines that require a lot of setup time,each controlled by a single operator.The WIP follows a circuitous route through the different operations.
Islands of technology,in which stand-alone islands employ computer numerical controlled (CNC)machines that can perform multiple operations with less human involvement and less set up time.
Computer integrated manufacturing (CIM),a completely automated environment which employs automated storage and retrieval systems (AS/RS)and robotics.

Question 4

Which process creates a homogeneous product through a continuous series of standard procedures?

Accepted Answer

A) batch process 
B) make-to-order process 
C) continuous process 
D) none of the above 
A) batch process 
B) make-to-order process 
C) continuous process 
D) none of the above

Question 5

How does MRP II (manufacturing resource planning)expand on MRP (materials requirements planning)?

Accepted Answer

MRP is an automated production planning

Question 6

Accounting in a world-class manufacturing environment emphasizes standard cost and variance analysis.

Accepted Answer

A) True 
 B)False

Question 7

Discuss the documents used in a batch processing system.

Accepted Answer

The production schedule is the formal pl

Question 8

Cost accounting initiates a WIP account upon receiving the first move ticket of a batch.

Accepted Answer

A) True 
 B)False

Question 9

Discuss the principles underlying the lean manufacturing approach.

Accepted Answer

Pull Processing.Products are pulled from

Question 10

What is one benefit of the flexible production system?

Accepted Answer

A flexible production system s

Question 11

Which of the following statements about the EOQ inventory model assumptions is incorrect?

Accepted Answer

A) Demand for the product is constant and known with certainty. 
B) The lead time is a variable. 
C) All inventories in the order arrive at the same time. 
D) Total ordering cost is a variable. 
A) Demand for the product is constant and known with certainty. 
B) The lead time is a variable. 
C) All inventories in the order arrive at the same time. 
D) Total ordering cost is a variable.

Question 12

How do lean manufacturing companies use electronic data interchange (EDI)?

Accepted Answer

It allows firms to electronically receiv

Question 13

List one authorization control in the traditional manufacturing environment.

Accepted Answer

work orders prepared by produc

Question 14

The production schedule is

Accepted Answer

A) the expected demand for the firm's finished goods for a given year 
B) the formal plan and authority to begin production 
C) a description of the type and quantity of raw materials and subassemblies used to produce a single unit of finished product 
D) the sequence of operations during manufacturing 
A) the expected demand for the firm's finished goods for a given year 
B) the formal plan and authority to begin production 
C) a description of the type and quantity of raw materials and subassemblies used to produce a single unit of finished product 
D) the sequence of operations during manufacturing

Question 15

Differentiate between essential and non-essential activities.

Accepted Answer

Essential activities add value

Question 16

Characteristics of lean manufacturing include all of the following except

Accepted Answer

A) push manufacturing 
B) zero defects 
C) reduced setup time and small lot sizes 
D) reliable vendors 
A) push manufacturing 
B) zero defects 
C) reduced setup time and small lot sizes 
D) reliable vendors

Question 17

Deficiencies of the traditional cost accounting information system include all of the following except

Accepted Answer

A) an emphasis on financial performance 
B) inaccurate cost allocations 
C) an emphasis on standard costs 
D) immediate feedback about deviations from the norm 
A) an emphasis on financial performance 
B) inaccurate cost allocations 
C) an emphasis on standard costs 
D) immediate feedback about deviations from the norm

Question 18

All of the following are documents in batch process production systems except

Accepted Answer

A) production schedule 
B) route sheet 
C) materials requisition 
D) bill of manufacturing 
A) production schedule 
B) route sheet 
C) materials requisition 
D) bill of manufacturing

Question 19

What document triggers the beginning of the cost accounting process for a given production run?

Accepted Answer

The work order from the produc

Question 20

If the daily demand is 40 units and the lead time is 12 days,the reorder point is

Accepted Answer

A) 40 units 
B) 48 units 
C) 480 units 
D) none of the above 
A) 40 units 
B) 48 units 
C) 480 units 
D) none of the above

The storekeeper releases raw materials based on the

Which statement is not correct?

Automation is at the heart of the lean manufacturing philosophy.Discuss its stages and its distinguishing features.

Which process creates a homogeneous product through a continuous series of standard procedures?

How does MRP II (manufacturing resource planning)expand on MRP (materials requirements planning)?

Accounting in a world-class manufacturing environment emphasizes standard cost and variance analysis.

Discuss the documents used in a batch processing system.

Cost accounting initiates a WIP account upon receiving the first move ticket of a batch.

Discuss the principles underlying the lean manufacturing approach.

What is one benefit of the flexible production system?

Which of the following statements about the EOQ inventory model assumptions is incorrect?

How do lean manufacturing companies use electronic data interchange (EDI)?

List one authorization control in the traditional manufacturing environment.

The production schedule is

Differentiate between essential and non-essential activities.

Characteristics of lean manufacturing include all of the following except

Deficiencies of the traditional cost accounting information system include all of the following except

All of the following are documents in batch process production systems except

What document triggers the beginning of the cost accounting process for a given production run?

If the daily demand is 40 units and the lead time is 12 days,the reorder point is

The Information System: an Accountants Perspective

Introduction to Transaction Processing

Ethics,fraud,and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

Financial Reporting,and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Auditing It Controls Part I: Sarbanes-Oxley and It Governance

Auditing It Controls Part II: Security and Access

Auditing It Controls Part III: Systems Development, program Changes, and Application Auditing

Filters

Exam 7: The Conversion Cycle

The storekeeper releases raw materials based on the

Which statement is not correct?

Automation is at the heart of the lean manufacturing philosophy.Discuss its stages and its distinguishing features.

Which process creates a homogeneous product through a continuous series of standard procedures?

How does MRP II (manufacturing resource planning)expand on MRP (materials requirements planning)?

Accounting in a world-class manufacturing environment emphasizes standard cost and variance analysis.

Discuss the documents used in a batch processing system.

Cost accounting initiates a WIP account upon receiving the first move ticket of a batch.

Discuss the principles underlying the lean manufacturing approach.

What is one benefit of the flexible production system?

Which of the following statements about the EOQ inventory model assumptions is incorrect?

How do lean manufacturing companies use electronic data interchange (EDI)?

List one authorization control in the traditional manufacturing environment.

The production schedule is

Differentiate between essential and non-essential activities.

Characteristics of lean manufacturing include all of the following except

Deficiencies of the traditional cost accounting information system include all of the following except

All of the following are documents in batch process production systems except

What document triggers the beginning of the cost accounting process for a given production run?

If the daily demand is 40 units and the lead time is 12 days,the reorder point is

The Information System: an Accountants Perspective

Introduction to Transaction Processing

Ethics,fraud,and Internal Control

The Revenue Cycle

The Expenditure Cycle Part I: Purchases and Cash Disbursements Procedures

The Expenditure Cycle Part II: Payroll Processing and Fixed Asset Procedures

Financial Reporting,and Management Reporting Systems

Database Management Systems

The Rea Approach to Business Process Modeling

Enterprise Resource Planning Systems

Electronic Commerce Systems

Managing the Systems Development Life Cycle

Auditing It Controls Part I: Sarbanes-Oxley and It Governance

Auditing It Controls Part II: Security and Access

Auditing It Controls Part III: Systems Development, program Changes, and Application Auditing

Filters