Question 1

Lean manufacturing is concerned with eliminating waste in manufacturing processes.

Accepted Answer

A) True 
 B)False

Question 2

Which of the following is NOT a disadvantage of partial productivity measures?

Accepted Answer

A)  partial measures used in isolation 
B)  the ability to focus on a particular input 
C)  trade-offs effects among input productivity may be missed 
D)  a decline in the productivity of an input may lead to an overall cost decline 
A)  partial measures used in isolation 
B)  the ability to focus on a particular input 
C)  trade-offs effects among input productivity may be missed 
D)  a decline in the productivity of an input may lead to an overall cost decline

Question 3

The productivity measure(s) that are expressed in physical terms is(are) called:

Accepted Answer

A)  Financial productivity measures 
B)  Partial productivity measurement 
C)  Operational productivity measures 
D)  Productivity measurement 
A)  Financial productivity measures 
B)  Partial productivity measurement 
C)  Operational productivity measures 
D)  Productivity measurement

Question 4

In a traditional manufacturing setup

Accepted Answer

A)  there is significant move and wait time. 
B)  organization is by function into departments. 
C)  products are produced in large batches. 
D)  all of the above. 
A)  there is significant move and wait time. 
B)  organization is by function into departments. 
C)  products are produced in large batches. 
D)  all of the above.

Question 5

The measure of input and output used by a financial productivity measure is called:

Accepted Answer

A)  revenues 
B)  dollars 
C)  costs 
D)  physical quantities 
A)  revenues 
B)  dollars 
C)  costs 
D)  physical quantities

Question 6

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 7

Figure 15-2
The following information relates to Cranmore Manufacturing: To produce a unit of product:
Cutting department 5 minutes per unit
Welding department 8 minutes per unit
Polishing department 3 minutes per unit
Finishing department 4 minutes per unit
There is a wait time of 5 minutes before the cutting department begins a batch, 15 minutes between the cutting and welding departments, a move and pre-wait between welding and polishing of 12 minutes, and a move and pre-wait between the polishing and finishing departments of 8 minutes.
-Refer to Figure 16-2. What is the production rate?

Accepted Answer

A)  12 units per hour 
B)  20 units per hour 
C)  15 units per hour 
D)  7.5 units per hour 
A)  12 units per hour 
B)  20 units per hour 
C)  15 units per hour 
D)  7.5 units per hour

Question 8

The process of producing output efficiently using the least amount of inputs is called __________ .

Accepted Answer

The answer of The process of producing output efficiently using...

Question 9

The new product value stream focuses on

Accepted Answer

A)  developing new products for new customers. 
B)  providing current products to current customers. 
C)  providing current products to new customers and new products to new customers. 
D)  the production, sale, and delivery of products. 
A)  developing new products for new customers. 
B)  providing current products to current customers. 
C)  providing current products to new customers and new products to new customers. 
D)  the production, sale, and delivery of products.

Question 10

Describe the objectives and characteristics of a Lean Manufacturing system.

Accepted Answer

The competitive environment demands that

Question 11

Changes in product-costing and operational control approaches are crucial to a value-stream based lean manufacturing system.

Accepted Answer

A) True 
 B)False

Question 12

Lean manufacturing adds value by reducing labor costs.

Accepted Answer

A) True 
 B)False

Question 13

The quantitative assessment of productivity changes is called measurement.

Accepted Answer

The answer of The quantitative assessment of productivity changes is...

Question 14

Figure 15 - 3
Based on the following information:
  
-Refer to Figure 15-3. What is the product cost based on total average conversion cost? (Round to nearest cent.)

Accepted Answer

A)  $100.56 
B)  $48.32 
C)  $36.04 
D)  $50.78 
A)  $100.56 
B)  $48.32 
C)  $36.04 
D)  $50.78

Question 15

Information about Remarkable Corporation is as follows:   What is the partial operational productivity measure for materials for 2014?

Accepted Answer

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

Question 16

The two lean accounting approaches are average-costing and value-stream cost reporting.

Accepted Answer

A) True 
 B)False

Question 17

The difference between the total profit change and the profit-linked productivity change is called the component.

Accepted Answer

The answer of The difference between the total profit change...

Question 18

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 19

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

Accepted Answer

A) $5,825.00 
B) $5,687.50 
C) $5,550.00 
D)  $137.50 
A) $5,825.00 
B) $5,687.50 
C) $5,550.00 
D)  $137.50

Question 20

The assessment of the amount of profit change-from the base period to the current period-attributable to productivity changes is called:

Accepted Answer

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

Lean manufacturing is concerned with eliminating waste in manufacturing processes.

Which of the following is NOT a disadvantage of partial productivity measures?

The productivity measure(s) that are expressed in physical terms is(are) called:

In a traditional manufacturing setup

The measure of input and output used by a financial productivity measure is called:

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

The process of producing output efficiently using the least amount of inputs is called __________ .

The new product value stream focuses on

Describe the objectives and characteristics of a Lean Manufacturing system.

Changes in product-costing and operational control approaches are crucial to a value-stream based lean manufacturing system.

Lean manufacturing adds value by reducing labor costs.

The quantitative assessment of productivity changes is called measurement.

Figure 15 - 3 Based on the following information: -Refer to Figure 15-3. What is the product cost based on total average conversion cost? (Round to nearest cent.)

Information about Remarkable Corporation is as follows: What is the partial operational productivity measure for materials for 2014?

The two lean accounting approaches are average-costing and value-stream cost reporting.

The difference between the total profit change and the profit-linked productivity change is called the component.

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

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

The assessment of the amount of profit change-from the base period to the current period-attributable to productivity changes is called:

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

Lean manufacturing is concerned with eliminating waste in manufacturing processes.

Which of the following is NOT a disadvantage of partial productivity measures?

The productivity measure(s) that are expressed in physical terms is(are) called:

In a traditional manufacturing setup

The measure of input and output used by a financial productivity measure is called:

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

The process of producing output efficiently using the least amount of inputs is called __________ .

The new product value stream focuses on

Describe the objectives and characteristics of a Lean Manufacturing system.

Changes in product-costing and operational control approaches are crucial to a value-stream based lean manufacturing system.

Lean manufacturing adds value by reducing labor costs.

The quantitative assessment of productivity changes is called measurement.

Figure 15 - 3 Based on the following information: -Refer to Figure 15-3. What is the product cost based on total average conversion cost? (Round to nearest cent.)

Information about Remarkable Corporation is as follows: What is the partial operational productivity measure for materials for 2014?

The two lean accounting approaches are average-costing and value-stream cost reporting.

The difference between the total profit change and the profit-linked productivity change is called the component.

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

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

The assessment of the amount of profit change-from the base period to the current period-attributable to productivity changes is called:

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