Question 1

Information about Ford Corporation is as follows:   What is the price-recovery component?

Accepted Answer

A)  $47,050.00 
B)  $962.50 
C)  $40,012.50 
D)  ($962.50) 
A)  $47,050.00 
B)  $962.50 
C)  $40,012.50 
D)  ($962.50) A

Question 2

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. C

Question 3

Information about Hinze Corporation is as follows:  
- What is the materials productivity ratio for 2011?

Accepted Answer

A)  28 
B)  25 
C)  20 
D)  16 
A)  28 
B)  25 
C)  20 
D)  16 C

Question 4

Information about Gilchrist Corporation is as follows:   
-What is the partial operational productivity measure for materials for 2011?

Accepted Answer

A)  1.42 
B)  1.60 
C)  1.80 
D)  2.22 
A)  1.42 
B)  1.60 
C)  1.80 
D)  2.22

Question 5

Discuss the linkage between quality and productivity.

Accepted Answer

Cost, quality, and productivity are all

Question 6

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 B under the features and approach costing method?

Accepted Answer

A)  $91 per unit 
B)  $195 per unit 
C)  $87 per unit 
D)  $81.75 per unit 
A)  $91 per unit 
B)  $195 per unit 
C)  $87 per unit 
D)  $81.75 per unit

Question 7

Describe the objectives and characteristics of a Lean Manufacturing system.

Accepted Answer

The competitive environment demands that

Question 8

Which of the following is NOT a characteristic of a lean manufacturing system?

Accepted Answer

A)  delivery of the right product in the right quantity 
B)  zero defect 
C)  delivery of product the exact time a customer needs it 
D)  all of these 
A)  delivery of the right product in the right quantity 
B)  zero defect 
C)  delivery of product the exact time a customer needs it 
D)  all of these

Question 9

_______________ is an assessment of productive efficiency for all inputs combined.

Accepted Answer

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

Question 10

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 11

Which of the following statements is NOT true about the box scorecard?

Accepted Answer

A)  Operational, non-financial measures are only used at the department level. 
B)  There is a comparison of operational, capacity, and financial metrics. 
C)  The lean control approach uses a mixture of financial and non-financial measures for the value stream. 
D)  A weekly product cost is reported in the box scorecard. 
A)  Operational, non-financial measures are only used at the department level. 
B)  There is a comparison of operational, capacity, and financial metrics. 
C)  The lean control approach uses a mixture of financial and non-financial measures for the value stream. 
D)  A weekly product cost is reported in the box scorecard.

Question 12

The only allocation used regularly in a value stream cost assignment is

Accepted Answer

A)  facilities. 
B)  depreciation. 
C)  maintenance. 
D)  setup costs. 
A)  facilities. 
B)  depreciation. 
C)  maintenance. 
D)  setup costs.

Question 13

At the end of 2011, Gilley Company implemented a new labor process and redesigned its product with the expectation that input usage efficiency would increase.Now, at the end of 2012, 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:   
-By how much did profit change as a result of profitability changes in materials?

Accepted Answer

A)  $10,800 decrease 
B)  $10,800 increase 
C)  $24,000 decrease 
D)  $24,000 increase 
A)  $10,800 decrease 
B)  $10,800 increase 
C)  $24,000 decrease 
D)  $24,000 increase

Question 14

At the end of 2011, Gilley Company implemented a new labor process and redesigned its product with the expectation that input usage efficiency would increase.Now, at the end of 2012, 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:  
- By how much did profit change as a result of profitability changes in labor?

Accepted Answer

A)  $3,750 increase 
B)  $30,000 increase 
C)  $15,750 decrease 
D)  $15,750 increase 
A)  $3,750 increase 
B)  $30,000 increase 
C)  $15,750 decrease 
D)  $15,750 increase

Question 15

At the end of 2011, Gilley Company implemented a new labor process and redesigned its product with the expectation that input usage efficiency would increase.Now, at the end of 2012, 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 total change in profits from 2011 to 2012?

Accepted Answer

A)  $33,300 
B)  $180,000 
C)  $60,000 
D)  $243,300 
A)  $33,300 
B)  $180,000 
C)  $60,000 
D)  $243,300

Question 16

_______________ is defined as the worth of one or more features of a product for which the customer is willing to pay.

Accepted Answer

A)  Quality 
B)  Innovation 
C)  Efficiency 
D)  Value 
A)  Quality 
B)  Innovation 
C)  Efficiency 
D)  Value

Question 17

There are two basic types of non-value added activities.They are

Accepted Answer

A)  activities avoidable in the long run and activities unavoidable in the short run due to current technology or production methods. 
B)  activities avoidable in the short run and activities unavoidable in the long run due to current technology or production methods. 
C)  activities unavoidable in the short run due to current technology and activities avoidable due to production methods. 
D)  activities avoidable in the short run and activities unavoidable in the short run due to current technology or production methods. 
A)  activities avoidable in the long run and activities unavoidable in the short run due to current technology or production methods. 
B)  activities avoidable in the short run and activities unavoidable in the long run due to current technology or production methods. 
C)  activities unavoidable in the short run due to current technology and activities avoidable due to production methods. 
D)  activities avoidable in the short run and activities unavoidable in the short run due to current technology or production methods.

Question 18

The pursuit of perfection is realized in

Accepted Answer

A)  zero setup times. 
B)  producing on demand. 
C)  maximizing customer value. 
D)  all of these. 
A)  zero setup times. 
B)  producing on demand. 
C)  maximizing customer value. 
D)  all of these.

Question 19

_______________ is the point at which technical and allocative efficiency are achieved.

Accepted Answer

A)  Input trade-off efficiency 
B)  Productivity 
C)  Total productive efficiency 
D)  Financial productivity efficiency 
A)  Input trade-off efficiency 
B)  Productivity 
C)  Total productive efficiency 
D)  Financial productivity efficiency

Question 20

The value stream

Accepted Answer

A)  is made up of all activities, both value-added and non-value-added, required to bring a product group or service from its starting point to a finished product in the hands of the customer. 
B)  is made up value-added activities required to bring a product group or service from its starting point to a finished product in the hands of the customer. 
C)  is where the production stream is triggered by forecast. 
D)  is a series of steps designed to set target costs. 
A)  is made up of all activities, both value-added and non-value-added, required to bring a product group or service from its starting point to a finished product in the hands of the customer. 
B)  is made up value-added activities required to bring a product group or service from its starting point to a finished product in the hands of the customer. 
C)  is where the production stream is triggered by forecast. 
D)  is a series of steps designed to set target costs.

Information about Ford Corporation is as follows: What is the price-recovery component?

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

Information about Hinze Corporation is as follows: - What is the materials productivity ratio for 2011?

Information about Gilchrist Corporation is as follows: -What is the partial operational productivity measure for materials for 2011?

Discuss the linkage between quality and productivity.

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 B under the features and approach costing method?

Describe the objectives and characteristics of a Lean Manufacturing system.

Which of the following is NOT a characteristic of a lean manufacturing system?

_______________ is an assessment of productive efficiency for all inputs combined.

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

Which of the following statements is NOT true about the box scorecard?

The only allocation used regularly in a value stream cost assignment is

_______________ is defined as the worth of one or more features of a product for which the customer is willing to pay.

There are two basic types of non-value added activities.They are

The pursuit of perfection is realized in

_______________ is the point at which technical and allocative efficiency are achieved.

The value stream

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

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

Information about Ford Corporation is as follows: What is the price-recovery component?

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

Information about Hinze Corporation is as follows: - What is the materials productivity ratio for 2011?

Information about Gilchrist Corporation is as follows: -What is the partial operational productivity measure for materials for 2011?

Discuss the linkage between quality and productivity.

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 B under the features and approach costing method?

Describe the objectives and characteristics of a Lean Manufacturing system.

Which of the following is NOT a characteristic of a lean manufacturing system?

_______________ is an assessment of productive efficiency for all inputs combined.

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

Which of the following statements is NOT true about the box scorecard?

The only allocation used regularly in a value stream cost assignment is

_______________ is defined as the worth of one or more features of a product for which the customer is willing to pay.

There are two basic types of non-value added activities.They are

The pursuit of perfection is realized in

_______________ is the point at which technical and allocative efficiency are achieved.

The value stream

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

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