Question 1

Reports generated by the cost accounting system include performance reports and budget reports.

Accepted Answer

A) True 
 B)False

Question 2

A move ticket

Accepted Answer

A) is the formal plan and authority to begin production 
B) specifies the materials and production required for each batch 
C) records the work done in each work center 
D) authorizes the storekeeper to release materials to work centers 
A) is the formal plan and authority to begin production 
B) specifies the materials and production required for each batch 
C) records the work done in each work center 
D) authorizes the storekeeper to release materials to work centers

Question 3

Typically the only allocated cost in the value stream is a charge per square foot for the value stream production facility.

Accepted Answer

A) True 
 B)False

Question 4

In a traditional manufacturing environment,cost accounting provides independent verification of what information? What are the benefits?

Accepted Answer

Cost accounting reconciles materials and

Question 5

The complexities of ABC have caused many firms to abandon this method in favor of value stream accounting.

Accepted Answer

A) True 
 B)False

Question 6

Discuss the importance of the move ticket to the cost accounting department.

Accepted Answer

The various work centers send cost accou

Question 7

Describe the primary goal of lean manufacturing.

Accepted Answer

The goal of lean manufacturing

Question 8

A manufacturing process that is organized into group technology cells utilizing no human labor is called

Accepted Answer

A) islands of technology 
B) process simplification 
C) computer-integrated manufacturing 
D) traditional manufacturing 
A) islands of technology 
B) process simplification 
C) computer-integrated manufacturing 
D) traditional manufacturing

Question 9

Which of the following is not an example of waste?

Accepted Answer

A) overproduction of products 
B) safety hazards that cause injury 
C) stand-alone processes that are not linked to upstream or downstream processes 
D) All of the above are examples of waste. 
A) overproduction of products 
B) safety hazards that cause injury 
C) stand-alone processes that are not linked to upstream or downstream processes 
D) All of the above are examples of waste.

Question 10

An example of a continuous process is the production of

Accepted Answer

A) wedding invitations 
B) milk products 
C) jet aircraft 
D) all of the above 
A) wedding invitations 
B) milk products 
C) jet aircraft 
D) all of the above

Question 11

Lean manufacturing evolved from the Toyota Production System (TPS),which is based on the just-in-time (JIT)production model.

Accepted Answer

A) True 
 B)False

Question 12

Batch processing creates a homogeneous product through a continuous series of standard procedures.

Accepted Answer

A) True 
 B)False

Question 13

What is meant by the term "islands of technology"?

Accepted Answer

Islands of technology describe

Question 14

ABC assigns cost to cost objects based on their use of activities.

Accepted Answer

A) True 
 B)False

Question 15

What is the economic order quantity if the annual demand is 10,000 units,set up cost of placing each order is $3 and the holding cost per unit per year is $2?

Accepted Answer

A) 174 
B) 123 
C) 245 
D) 116 
A) 174 
B) 123 
C) 245 
D) 116

Question 16

What are the key segregation of duties issues in the conversion cycle?

Accepted Answer

Production planning and control departme

Question 17

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

Accepted Answer

continuous

Question 18

Explain why traditional cost allocation methods do not work well in a CIM environment.

Accepted Answer

Traditional accounting systems do not ac

Question 19

The work-in-process file is the subsidiary ledger for the work-in-process control account.

Accepted Answer

A) True 
 B)False

Question 20

Which of the following is not an assumption of the economic order quantity model?

Accepted Answer

A) demand for the product is known with certainty 
B) total cost per year of placing orders is fixed 
C) lead time is known and is constant 
D) there are no quantity discounts 
A) demand for the product is known with certainty 
B) total cost per year of placing orders is fixed 
C) lead time is known and is constant 
D) there are no quantity discounts

Reports generated by the cost accounting system include performance reports and budget reports.

A move ticket

Typically the only allocated cost in the value stream is a charge per square foot for the value stream production facility.

In a traditional manufacturing environment,cost accounting provides independent verification of what information? What are the benefits?

The complexities of ABC have caused many firms to abandon this method in favor of value stream accounting.

Discuss the importance of the move ticket to the cost accounting department.

Describe the primary goal of lean manufacturing.

A manufacturing process that is organized into group technology cells utilizing no human labor is called

Which of the following is not an example of waste?

An example of a continuous process is the production of

Lean manufacturing evolved from the Toyota Production System (TPS),which is based on the just-in-time (JIT)production model.

Batch processing creates a homogeneous product through a continuous series of standard procedures.

What is meant by the term "islands of technology"?

ABC assigns cost to cost objects based on their use of activities.

What is the economic order quantity if the annual demand is 10,000 units,set up cost of placing each order is $3 and the holding cost per unit per year is $2?

What are the key segregation of duties issues in the conversion cycle?

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

Explain why traditional cost allocation methods do not work well in a CIM environment.

The work-in-process file is the subsidiary ledger for the work-in-process control account.

Which of the following is not an assumption of the economic order quantity model?

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

Reports generated by the cost accounting system include performance reports and budget reports.

A move ticket

Typically the only allocated cost in the value stream is a charge per square foot for the value stream production facility.

In a traditional manufacturing environment,cost accounting provides independent verification of what information? What are the benefits?

The complexities of ABC have caused many firms to abandon this method in favor of value stream accounting.

Discuss the importance of the move ticket to the cost accounting department.

Describe the primary goal of lean manufacturing.

A manufacturing process that is organized into group technology cells utilizing no human labor is called

Which of the following is not an example of waste?

An example of a continuous process is the production of

Lean manufacturing evolved from the Toyota Production System (TPS),which is based on the just-in-time (JIT)production model.

Batch processing creates a homogeneous product through a continuous series of standard procedures.

What is meant by the term "islands of technology"?

ABC assigns cost to cost objects based on their use of activities.

What is the economic order quantity if the annual demand is 10,000 units,set up cost of placing each order is $3 and the holding cost per unit per year is $2?

What are the key segregation of duties issues in the conversion cycle?

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

Explain why traditional cost allocation methods do not work well in a CIM environment.

The work-in-process file is the subsidiary ledger for the work-in-process control account.

Which of the following is not an assumption of the economic order quantity model?

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