Question 1

A flexible manufacturing system

Accepted Answer

A)  creates bottlenecks in the process 
B)  leads to an "us" versus "them" attitude among workers 
C)  shortens the physical distance between activities 
D)  is organized along functional lines 
A)  creates bottlenecks in the process 
B)  leads to an "us" versus "them" attitude among workers 
C)  shortens the physical distance between activities 
D)  is organized along functional lines

Question 2

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

Accepted Answer

Computer-aided manufacturing (CAM) is th

Question 3

Differentiate between essential and non-essential activities.

Accepted Answer

Essential activities add value

Question 4

Which statement is true?

Accepted Answer

A)  World-class companies must maintain strategic agility and be able to turn on a dime. 
B)  World-class companies motivate and treat employees like appreciating assets. 
C)  Manufacturing firms that achieve world-class status do so by following a philosophy of lean manufacturing 
D)  All the above are true 
A)  World-class companies must maintain strategic agility and be able to turn on a dime. 
B)  World-class companies motivate and treat employees like appreciating assets. 
C)  Manufacturing firms that achieve world-class status do so by following a philosophy of lean manufacturing 
D)  All the above are true

Question 5

The philosophy of customer satisfaction permeates the world-class firm.

Accepted Answer

A) True 
 B)False

Question 6

List one authorization control in the traditional manufacturing environment.

Accepted Answer

work orders prepared by produc

Question 7

Which function is not a part of the batch production process?

Accepted Answer

A)  Plan and control production 
B)  Prepare purchase orders 
C)  Maintain inventory control 
D)  Perform cost accounting 
A)  Plan and control production 
B)  Prepare purchase orders 
C)  Maintain inventory control 
D)  Perform cost accounting

Question 8

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 9

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

Accepted Answer

A) True 
 B)False

Question 10

Discuss three common problems associated with inventories.

Accepted Answer

1. Inventories cost money. They are an i

Question 11

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

Accepted Answer

Traditional accounting systems do not ac

Question 12

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 13

Lead time times daily demand is

Accepted Answer

A)  the economic order quantity 
B)  safety stock 
C)  the reorder point 
D)  total inventory 
A)  the economic order quantity 
B)  safety stock 
C)  the reorder point 
D)  total inventory

Question 14

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 15

The internal control significance of the excess materials requisition is that it

Accepted Answer

A)  indicates the amount of material released to work centers 
B)  identifies materials used in production that exceed the standard amount allowed 
C)  indicates the standard quantities required for production 
D)  documents the return to raw materials inventory of unused production materials 
A)  indicates the amount of material released to work centers 
B)  identifies materials used in production that exceed the standard amount allowed 
C)  indicates the standard quantities required for production 
D)  documents the return to raw materials inventory of unused production materials

Question 16

All of the following are characteristics of batch processing except

Accepted Answer

A)  each item in the batch is similar 
B)  batches are produced in accordance with detailed customer specifications 
C)  batches are produced to replenish depleted inventory levels 
D)  setting up and retooling is required for different batches 
A)  each item in the batch is similar 
B)  batches are produced in accordance with detailed customer specifications 
C)  batches are produced to replenish depleted inventory levels 
D)  setting up and retooling is required for different batches

Question 17

Outline the characteristic of a world-class company.

Accepted Answer

1. World-class companies must maintain s

Question 18

What is a company's value stream?

Accepted Answer

A company's value stream inclu

Question 19

Which of the following is not a principle of lean manufacturing?

Accepted Answer

A)  Products are pushed from the production end to the customer 
B)  All activities that do not add value and maximize the use of scarce resources must be eliminated 
C)  Achieve high inventory turnover rate. 
D)  A lean manufacturing firm must have established and cooperative relationships with vendors 
E)  All of the above are lean manufacturing principles. 
A)  Products are pushed from the production end to the customer 
B)  All activities that do not add value and maximize the use of scarce resources must be eliminated 
C)  Achieve high inventory turnover rate. 
D)  A lean manufacturing firm must have established and cooperative relationships with vendors 
E)  All of the above are lean manufacturing principles.

Question 20

The cost accounting system authorizes the release of raw materials into production.

Accepted Answer

A) True 
 B)False

A flexible manufacturing system

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

Differentiate between essential and non-essential activities.

Which statement is true?

The philosophy of customer satisfaction permeates the world-class firm.

List one authorization control in the traditional manufacturing environment.

Which function is not a part of the batch production process?

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

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

Discuss three common problems associated with inventories.

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

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

Lead time times daily demand is

An example of a continuous process is the production of

The internal control significance of the excess materials requisition is that it

All of the following are characteristics of batch processing except

Outline the characteristic of a world-class company.

What is a company's value stream?

Which of the following is not a principle of lean manufacturing?

The cost accounting system authorizes the release of raw materials into production.

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

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

Exam 7: The Conversion Cycle

A flexible manufacturing system

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

Differentiate between essential and non-essential activities.

Which statement is true?

The philosophy of customer satisfaction permeates the world-class firm.

List one authorization control in the traditional manufacturing environment.

Which function is not a part of the batch production process?

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

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

Discuss three common problems associated with inventories.

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

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

Lead time times daily demand is

An example of a continuous process is the production of

The internal control significance of the excess materials requisition is that it

All of the following are characteristics of batch processing except

Outline the characteristic of a world-class company.

What is a company's value stream?

Which of the following is not a principle of lean manufacturing?

The cost accounting system authorizes the release of raw materials into production.

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

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