Question

Why might labor costs be reduced in a value stream system?

Accepted Answer

A)  The elimination of the need for any specialized skilled employees such as industrial engineers or production schedulers. 
B)  The labor costs of industrial engineers and production schedulers can be pooled and allocated to the value streams. 
C)  Some of the workers can be cross-trained to perform value-added activities within the value stream. 
D)  none of the above. 
A)  The elimination of the need for any specialized skilled employees such as industrial engineers or production schedulers. 
B)  The labor costs of industrial engineers and production schedulers can be pooled and allocated to the value streams. 
C)  Some of the workers can be cross-trained to perform value-added activities within the value stream. 
D)  none of the above.

Why might labor costs be reduced in a value stream system?

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

Why might labor costs be reduced in a value stream system?

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