Question 1

Costs of failing to control quality include prevention costs and external failure costs.

Accepted Answer

A) True 
 B)False

Question 2

In a push manufacturing system, raw materials are released to production based on forecasted demand.

Accepted Answer

A) True 
 B)False

Question 3

A local college is aggressively working to reduce the time it takes students to enroll for each semester.Which of the following changes would not help achieve this goal?

Accepted Answer

A)  Counselors are specializing in common degree plans
B)  One application is good at the community college and at the transferring university
C)  A one stop area includes admissions, advising, registration and student ID's
D)  Having more number of staff to help facilitate admission processE) A) and B)
F) A) and C)

Question 4

Long setups and large batch sizes result in smaller inventories.

Accepted Answer

A) True 
 B)False

Question 5

By spending more in costs of controlling quality, the costs of failing to control quality will decrease.

Accepted Answer

A) True 
 B)False

Question 6

Christmas Express makes wreaths in batch sizes of 12.The cutting & assembly process takes 8 minutes per wreath and the decorating process time is 10 minutes per wreath.It takes 12 minutes to move the wreaths from the cutting & assembly process to the decorating process.
a Compute the value-added, non-value-added, and the total lead time of the wreath process.
b Compute the value-added ratio.Round to the nearest decimal.

Accepted Answer

a<br> <img  loading="lazy" src="/assets/images/blured-textbook.svg" class="d-inline m-1" alt="blured image" width="139" height="30"> b Valu...

Question 7

Which of the following results in fewer transactions in lean accounting?

Accepted Answer

A)  all manufacturing costs are combined in one account called Raw and In Process Inventory.
B)  the distinction between direct and indirect costs is eliminated.
C)  there is less movement of inventory between departments.
D)  All of the above.E) None of the above
F) A) and B)

Question 8

In a lean environment, operations only respond to customer orders.

Accepted Answer

A) True 
 B)False

Question 9

Identity the following by their type of quality cost.
-Warranty work

Accepted Answer

A)  Preventive costs
B)  Appraisal costs
C)  Internal failure costs
D)  External failure costsE) A) and B)
F) None of the above

Question 10

Costs of controlling quality include prevention costs and internal failure costs.

Accepted Answer

A) True 
 B)False

Question 11

From the above schedule of activity costs, determine the prevention costs.

Accepted Answer

A)  $30,000
B)  $74,000
C)  $76,000
D)  $104,000E) B) and C)
F) A) and D)

Question 12

Which of the following is not a prevention cost?

Accepted Answer

A)  preventive maintenance
B)  operator training
C)  design engineering
D)  testing finished productsE) All of the above
F) A) and C)

Question 13

Identity the following by their type of quality cost.
-Scrap

Accepted Answer

A)  Preventive costs
B)  Appraisal costs
C)  Internal failure costs
D)  External failure costsE) A) and B)
F) B) and D)

Question 14

Lean manufacturing favors organizing work around products rather than around processes.

Accepted Answer

A) True 
 B)False

Question 15

From the foregoing information, determine the production costs transferred to Finished Goods during August.

Accepted Answer

A)  $369,840
B)  $408,480
C)  $428,800
D)  $473,600E) B) and D)
F) C) and D)

Question 16

In a lean system, there are fewer transactions to record than there are in a traditional system.

Accepted Answer

A) True 
 B)False

Question 17

Which of the following is best suited to providing timely and focused performance information?

Accepted Answer

A)  nonfinancial information
B)  financial accounting information
C)  cost accounting information
D)  variance analysisE) B) and C)
F) A) and D)

Question 18

Make-to-order companies typically produce in small batch sizes.

Accepted Answer

A) True 
 B)False

Question 19

From the above schedule of activity costs, determine the non-value-added costs.

Accepted Answer

A)  $30,000
B)  $50,000
C)  $64,000
D)  $85,000E) C) and D)
F) A) and B)

Question 20

Which of the following is are objectives of lean manufacturing?

Accepted Answer

A)  eliminating waste
B)  increasing inventory levels
C)  increased production speed
D)  all of the aboveE) A) and B)
F) None of the above

Exam 12: Lean Principles, Lean Accounting, and Activity Analysis

Make-to-order companies typically produce in small batch sizes.

Correct Answer
verified

Which of the following is best suited to providing timely and focused performance information?

Correct Answer
verified

Costs of failing to control quality include prevention costs and external failure costs.

Correct Answer
verified

Which of the following is are objectives of lean manufacturing?

Correct Answer
verified

In a push manufacturing system, raw materials are released to production based on forecasted demand.

Correct Answer
verified

Which of the following is not a prevention cost?

Correct Answer
verified

A local college is aggressively working to reduce the time it takes students to enroll for each semester.Which of the following changes would not help achieve this goal?

Correct Answer
verified

Which of the following results in fewer transactions in lean accounting?

Correct Answer
verified

Lean manufacturing favors organizing work around products rather than around processes.

Correct Answer
verified

In a lean environment, operations only respond to customer orders.

Correct Answer
verified

Identity the following by their type of quality cost. -Scrap

Correct Answer
verified

From the above schedule of activity costs, determine the prevention costs.

Correct Answer
verified

Long setups and large batch sizes result in smaller inventories.

Correct Answer
verified

In a lean system, there are fewer transactions to record than there are in a traditional system.

Correct Answer
verified

By spending more in costs of controlling quality, the costs of failing to control quality will decrease.

Correct Answer
verified

From the above schedule of activity costs, determine the non-value-added costs.

Correct Answer
verified

From the foregoing information, determine the production costs transferred to Finished Goods during August.

Correct Answer
verified

Identity the following by their type of quality cost. -Warranty work

Correct Answer
verified

Correct Answer
verified
a
b Valu...
View Answer

Costs of controlling quality include prevention costs and internal failure costs.

Correct Answer
verified

Exam 12: Lean Principles, Lean Accounting, and Activity Analysis

Make-to-order companies typically produce in small batch sizes.

Correct AnswerverifiedShow Answer

Which of the following is best suited to providing timely and focused performance information?

Correct AnswerverifiedShow Answer

Costs of failing to control quality include prevention costs and external failure costs.

Correct AnswerverifiedShow Answer

Which of the following is are objectives of lean manufacturing?

Correct AnswerverifiedShow Answer

In a push manufacturing system, raw materials are released to production based on forecasted demand.

Correct AnswerverifiedShow Answer

Which of the following is not a prevention cost?

Correct AnswerverifiedShow Answer

A local college is aggressively working to reduce the time it takes students to enroll for each semester.Which of the following changes would not help achieve this goal?

Correct AnswerverifiedShow Answer

Which of the following results in fewer transactions in lean accounting?

Correct AnswerverifiedShow Answer

Lean manufacturing favors organizing work around products rather than around processes.

Correct AnswerverifiedShow Answer

In a lean environment, operations only respond to customer orders.

Correct AnswerverifiedShow Answer

Identity the following by their type of quality cost. -Scrap

Correct AnswerverifiedShow Answer

From the above schedule of activity costs, determine the prevention costs.

Correct AnswerverifiedShow Answer

Long setups and large batch sizes result in smaller inventories.

Correct AnswerverifiedShow Answer

In a lean system, there are fewer transactions to record than there are in a traditional system.

Correct AnswerverifiedShow Answer

By spending more in costs of controlling quality, the costs of failing to control quality will decrease.

Correct AnswerverifiedShow Answer

From the above schedule of activity costs, determine the non-value-added costs.

Correct AnswerverifiedShow Answer

From the foregoing information, determine the production costs transferred to Finished Goods during August.

Correct AnswerverifiedShow Answer

Identity the following by their type of quality cost. -Warranty work

Correct AnswerverifiedShow Answer

Correct Answerverifieda b Valu...View AnswerShow Answer

Costs of controlling quality include prevention costs and internal failure costs.

Correct AnswerverifiedShow Answer

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a
b Valu...
View Answer

Correct Answer
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