Question 1

A purchase requisition authorizes the storekeeper to release materials to individuals or work centers in the production process.

Accepted Answer

A) True 
 B)False

Question 2

How are cost structures fundamentally different between the traditional and CIM environments?

Accepted Answer

In the traditional manufacturing environ

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

Question 4

Which of the following is not true?

Accepted Answer

A)  The complexities of ABC have caused many firms to pursue value stream accounting. 
B)  Value stream accounting captures costs related to value added activities within a specified department or activity. 
C)  An essential aspect in implementing value stream accounting is defining the product family. 
D)  Value stream accounting makes no distinction between direct costs and indirect costs. 
A)  The complexities of ABC have caused many firms to pursue value stream accounting. 
B)  Value stream accounting captures costs related to value added activities within a specified department or activity. 
C)  An essential aspect in implementing value stream accounting is defining the product family. 
D)  Value stream accounting makes no distinction between direct costs and indirect costs.

Question 5

Computer integrated manufacturing includes all of the following technologies except

Accepted Answer

A)  robotics 
B)  materials requirements planning 
C)  automated storage and retrieval systems 
D)  computer aided design 
A)  robotics 
B)  materials requirements planning 
C)  automated storage and retrieval systems 
D)  computer aided design

Question 6

Which situation violates the segregation of functions control procedure?

Accepted Answer

A)  production planning and control is located apart from the work centers 
B)  inventory control maintains custody of inventory items 
C)  cost accounting has custody of and makes entries on cost records 
D)  work centers record direct labor on job tickets 
A)  production planning and control is located apart from the work centers 
B)  inventory control maintains custody of inventory items 
C)  cost accounting has custody of and makes entries on cost records 
D)  work centers record direct labor on job tickets

Question 7

What information is contained in the bill of materials (BOM)?

Accepted Answer

The BOM specifies the types an

Question 8

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 9

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

Accepted Answer

A) True 
 B)False

Question 10

In Activity Based Costing,what is the term used to refer to the work performed by a firm?

Accepted Answer

The answer of In Activity Based Costing,what is the term...

Question 11

Which of the following would not be included as a value stream cost?

Accepted Answer

A)  Labor costs of employees who simply transport the product from cell to cell. 
B)  Labor costs of employees who design the product. 
C)  A charge per square foot for the value stream production facility including cost of rent and building maintenance. 
D)  All of the above are value stream costs 
A)  Labor costs of employees who simply transport the product from cell to cell. 
B)  Labor costs of employees who design the product. 
C)  A charge per square foot for the value stream production facility including cost of rent and building maintenance. 
D)  All of the above are value stream costs

Question 12

All of the following are problems with traditional accounting information except:

Accepted Answer

A)  Managers in a lean setting require immediate information. 
B)  The measurement principle tends to ignore standards other than money. 
C)  Standard costing motivates nonlean behavior in operations. 
D)  The overhead component in a manufacturing company is usually very large. 
E)  All of the above are problems associated with traditional accounting information. 
A)  Managers in a lean setting require immediate information. 
B)  The measurement principle tends to ignore standards other than money. 
C)  Standard costing motivates nonlean behavior in operations. 
D)  The overhead component in a manufacturing company is usually very large. 
E)  All of the above are problems associated with traditional accounting information.

Question 13

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

Accepted Answer

The work order from the produc

Question 14

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

Accepted Answer

A)  52 units 
B)  48 units 
C)  480 units 
D)  none of the above 
A)  52 units 
B)  48 units 
C)  480 units 
D)  none of the above

Question 15

The two subsystems of a traditional conversion cycle are the production system and the delivery system.

Accepted Answer

A) True 
 B)False

Question 16

What is one benefit of the flexible production system?

Accepted Answer

A flexible production system s

Question 17

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

Accepted Answer

Islands of technology describe

Question 18

Explain how CAM can contribute to a firm's move toward world-class status.

Accepted Answer

Computer-aided manufacturing (CAM)focuse

Question 19

Explain how CAD can contribute to a firm's move toward world-class status.

Accepted Answer

Product design has been revolutionized t

Question 20

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

A purchase requisition authorizes the storekeeper to release materials to individuals or work centers in the production process.

How are cost structures fundamentally different between the traditional and CIM environments?

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

Which of the following is not true?

Computer integrated manufacturing includes all of the following technologies except

Which situation violates the segregation of functions control procedure?

What information is contained in the bill of materials (BOM)?

The production schedule is

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

In Activity Based Costing,what is the term used to refer to the work performed by a firm?

Which of the following would not be included as a value stream cost?

All of the following are problems with traditional accounting information 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 two subsystems of a traditional conversion cycle are the production system and the delivery system.

What is one benefit of the flexible production system?

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

Explain how CAM can contribute to a firm's move toward world-class status.

Explain how CAD can contribute to a firm's move toward world-class status.

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

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

General Ledger,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

Construct,deliver,and Maintain Systems Projects

IT Controls Part I: Sarbanes-Oxley and It Governance

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, program Changes, and Application Controls

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Exam 7: The Conversion Cycle

A purchase requisition authorizes the storekeeper to release materials to individuals or work centers in the production process.

How are cost structures fundamentally different between the traditional and CIM environments?

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

Which of the following is not true?

Computer integrated manufacturing includes all of the following technologies except

Which situation violates the segregation of functions control procedure?

What information is contained in the bill of materials (BOM)?

The production schedule is

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

In Activity Based Costing,what is the term used to refer to the work performed by a firm?

Which of the following would not be included as a value stream cost?

All of the following are problems with traditional accounting information 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 two subsystems of a traditional conversion cycle are the production system and the delivery system.

What is one benefit of the flexible production system?

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

Explain how CAM can contribute to a firm's move toward world-class status.

Explain how CAD can contribute to a firm's move toward world-class status.

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

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

General Ledger,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

Construct,deliver,and Maintain Systems Projects

IT Controls Part I: Sarbanes-Oxley and It Governance

IT Controls Part II: Security and Access

IT Controls Part III: Systems Development, program Changes, and Application Controls

Filters