Question 1

A value chain involves a sequence of value-creating activities within an organization.

Accepted Answer

A) True 
 B)False

Question 2

For a company offering services, which of the following is a value-adding activity?

Accepted Answer

A)  Billing the clients 
B)  Preparing job order forms 
C)  Ordering, receiving, and inspecting supplies 
D)  Designing advertisements 
A)  Billing the clients 
B)  Preparing job order forms 
C)  Ordering, receiving, and inspecting supplies 
D)  Designing advertisements

Question 3

Activity-based costing applies only to production-related activities.

Accepted Answer

A) True 
 B)False

Question 4

Under new methods of management, attempts to continuously improve the work environment come from

Accepted Answer

A)  top management. 
B)  each department manager. 
C)  the board of directors. 
D)  everyone in the company. 
A)  top management. 
B)  each department manager. 
C)  the board of directors. 
D)  everyone in the company.

Question 5

Backflush costing aims at decreasing waste in the production process.

Accepted Answer

A) True 
 B)False

Question 6

Activity-based management is useful for both strategic planning and operational decision making.

Accepted Answer

A) True 
 B)False

Question 7

For service organizations, customer relations are part of the supply chain and customers are part of the value chain.

Accepted Answer

A) True 
 B)False

Question 8

Traditional costing and backflush costing provide the same ending balances only when there is little or no ending inventory.

Accepted Answer

A) True 
 B)False

Question 9

Explain how a just-in-time operating philosophy reduces the time it takes to complete the production of a product. Include in your answer the classifications of time that are affected. How does such a change help to reduce product costs?

Accepted Answer

The basic ingredient in the just-in-time

A value chain involves a sequence of value-creating activities within an organization.

For a company offering services, which of the following is a value-adding activity?

Activity-based costing applies only to production-related activities.

Under new methods of management, attempts to continuously improve the work environment come from

Backflush costing aims at decreasing waste in the production process.

Activity-based management is useful for both strategic planning and operational decision making.

For service organizations, customer relations are part of the supply chain and customers are part of the value chain.

Traditional costing and backflush costing provide the same ending balances only when there is little or no ending inventory.

Explain how a just-in-time operating philosophy reduces the time it takes to complete the production of a product. Include in your answer the classifications of time that are affected. How does such a change help to reduce product costs?

The Changing Business Environment - a Managers Perspective

Costing Systems- Job Order Costing

Costing Systems- Process Costing

Cost Behavior Analysis

The Budgeting Process

Performance Management and Evaluation

Standard Costing and Variance Analysis

Short Run Decision Analysis

Capital Investment Analysis

Pricing Decisions, Incl Target Costing and Transfer Pricing

Quality Management and Measurement

Financial Analysis of Performance

Filters

Exam 4: Value-Based Systems- Abm and Lean

A value chain involves a sequence of value-creating activities within an organization.

For a company offering services, which of the following is a value-adding activity?

Activity-based costing applies only to production-related activities.

Under new methods of management, attempts to continuously improve the work environment come from

Backflush costing aims at decreasing waste in the production process.

Activity-based management is useful for both strategic planning and operational decision making.

For service organizations, customer relations are part of the supply chain and customers are part of the value chain.

Traditional costing and backflush costing provide the same ending balances only when there is little or no ending inventory.

Explain how a just-in-time operating philosophy reduces the time it takes to complete the production of a product. Include in your answer the classifications of time that are affected. How does such a change help to reduce product costs?

The Changing Business Environment - a Managers Perspective

Costing Systems- Job Order Costing

Costing Systems- Process Costing

Cost Behavior Analysis

The Budgeting Process

Performance Management and Evaluation

Standard Costing and Variance Analysis

Short Run Decision Analysis

Capital Investment Analysis

Pricing Decisions, Incl Target Costing and Transfer Pricing

Quality Management and Measurement

Financial Analysis of Performance

Filters