FiltersDone

Question type

Essay

Multiple Choice

Short Answer

True False

Matching

Exam 20: Value-Based Systems: Activity-Based Costing and Lean Accounting

Show Answer

Share

---

All types

Filters

Study FlashcardsPractice ExamLearn

Question 1

True/False

Review LaterAdd Note

Review Later

Nonvalue-adding activity costs do not increase a product's cost because they do not add value to the product.

Correct Answer

verified

False

Question 2

Multiple Choice

Review LaterAdd Note

Review Later

Which of the following is the major objective of the just-in-time operating environment?

A) To create push-through production
B) To develop a multiskilled work force
C) To substitute automation for manual operations
D) To reduce waste and improve quality and productivity

Correct Answer

verified

Show Answer

Question 3

Multiple Choice

Review LaterAdd Note

Which of the following activities would be part of the value chain of a manufacturer?

Process value analysis (PVA) identifies all activities of a production and/or assembly operation for the purpose of

Under new methods of management,attempts to continuously improve the work environment come from

In just-in-time manufacturing,the basic cost classifications used in product costing are materials and overhead costs.

Lean's primary goal is to eliminate waste in business processes.

Engineering design is an activity vital to the success of any motor vehicle manufacturer.Identify the level at which engineering design would be classified in the cost hierarchy used with ABC for a maker of built-to-order city and county emergency vehicles (orders are usually placed for 10 to 12 identical vehicles) .

In a backflush environment,costs are tracked through the various production departments as products or services move through the production process.

A nonvalue-adding activity is defined as a(n)

A manufacturing chain is a path that leads from the suppliers of the materials from which a product is made to the final customer.

In a traditional manufacturing environment,both push-through and pull-through methods trigger scheduling of production.

The value chain is the sequence of business activities in which usefulness is added to the products or the services within an organization.

Activity-based management and lean operations can be used either together or separately to eliminate waste and manage activities.

Which of the following is a batch-level activity?

A value-adding activity is one that increases the cost of a product but does not add to the product's market value.

When using backflush costing,product costs are first accumulated in the __________ account.

Which of the following is reduced by a just-in-time operations?

The initial step in achieving the efficiency of a just-in-time system is to

To minimize costs,managers continuously seek to improve processes and activities.