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

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Question 1

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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

E) None of the above
F) All of the above

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Question 2

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

A) True
B) False

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Question 3

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

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

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

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

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.

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) .

Which of the following is a batch-level activity?

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

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

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

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

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

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

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