Accounting Information Systems
9th Edition
ISBN: 9781133934400
Author: James A. Hall
Publisher: Cengage Learning
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Textbook Question
Chapter 7, Problem 8MCQ
Which of the following is NOT a principle of lean manufacturing?
- a. Products are pushed from the production end to the customer.
- b. All activities that do not add value and maximize the use of scarce resources must be eliminated.
- c. Achieve high inventory turnover rate.
- d. A lean manufacturing firm must have established and cooperative relationships with vendors.
- e. All of the above are lean manufacturing principles.
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Which of the following is NOT a principle of lean manufacturing? a. Products are pushed from the production end to the customer. b. All activities that do not add value and maximize the use of scarce resources must be eliminated. c. Achieve high inventory turnover rate. d. A lean manufacturing firm must have established and cooperative relationships with vendors. e. All of the above are lean manufacturing principles.
Which of the following is NOT a principle of lean manufacturing?a. Achieve high inventory turnover rate.b. All activities that do not add value and maximize the use ofscarce resources must be eliminated.c. Products are pushed from the production end to the customer.d. A lean manufacturing firm must have established andcooperative relationships with vendors.
In which of the following situations is a company most likely to benefit from
implementing ABC?
When the company operates in an environment where the risk of cost distortion
is high.
When the company already has the necessary accounting and technological
expertise in place.
When the company has very few competitors.
When the company produces and sells a single product.
Chapter 7 Solutions
Accounting Information Systems
Ch. 7 - Prob. 1RQCh. 7 - Prob. 2RQCh. 7 - Distinguish between continuous, batch, and...Ch. 7 - Prob. 4RQCh. 7 - What are the primary determinants for both...Ch. 7 - What are the objectives of inventory control in...Ch. 7 - Prob. 7RQCh. 7 - What documents are needed for cost accounting...Ch. 7 - What types of management reports are prepared by...Ch. 7 - What document signals the completion of the...
Ch. 7 - Prob. 11RQCh. 7 - Prob. 12RQCh. 7 - Prob. 13RQCh. 7 - What is meant by the statement Inventories...Ch. 7 - What are the primary goals of lean manufacturing?Ch. 7 - Distinguish between activities and cost objects in...Ch. 7 - Differentiate between essential and nonessential...Ch. 7 - Prob. 18RQCh. 7 - Define computer-integrated manufacturing.Ch. 7 - Prob. 20RQCh. 7 - Discuss the importance of the move ticket to the...Ch. 7 - How realistic are the assumptions of the economic...Ch. 7 - Explain why the economic order quantity is the...Ch. 7 - Supervisors in the work centers oversee the usage...Ch. 7 - Prob. 5DQCh. 7 - Prob. 6DQCh. 7 - Prob. 7DQCh. 7 - How does automation help achieve manufacturing...Ch. 7 - Prob. 9DQCh. 7 - How can poor quality be expensive to the firm,...Ch. 7 - Discuss how an emphasis on financial performance...Ch. 7 - Prob. 12DQCh. 7 - How are cost structures fundamentally different...Ch. 7 - Prob. 14DQCh. 7 - Prob. 15DQCh. 7 - Discuss the advantages of activity-based costing.Ch. 7 - Discuss the disadvantages of activity-based...Ch. 7 - Explain why traditional cost allocation methods...Ch. 7 - Explain the concept of a product family and its...Ch. 7 - Explain the relationship between MRP II and ERP.Ch. 7 - Prob. 1MCQCh. 7 - Which of the following statements regarding...Ch. 7 - Refer to the equation for the EOQ in the text. Car...Ch. 7 - Prob. 4MCQCh. 7 - Prob. 5MCQCh. 7 - Prob. 6MCQCh. 7 - Which of the following is NOT a problem associated...Ch. 7 - Which of the following is NOT a principle of lean...Ch. 7 - Prob. 9MCQCh. 7 - Prob. 10MCQCh. 7 - Prob. 1PCh. 7 - Prob. 2PCh. 7 - Prob. 3PCh. 7 - Prob. 4PCh. 7 - Prob. 5PCh. 7 - ZERO DEFECTS PROCESS Northern Tractor is a...Ch. 7 - ACTIVITY DRIVERS Cut It Up, Inc., is a...Ch. 7 - LEAN MANUFACTURING PRINCIPLES Write an essay...Ch. 7 - Prob. 1ICCCh. 7 - Prob. 2ICCCh. 7 - Prob. 3ICCCh. 7 - Prob. 4ICCCh. 7 - Prob. 5ICC
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- Which of the following is a disadvantage of outsourcing? A. freeing up capacity B. freeing up capital C. transferring production and technology risks D. limiting ability to upsize or downsize productionarrow_forwardWhich of the following are features of lean manufacturing? Yes or NO a. Maintaining excess inventory to ensure that products will always be available b. Cross-training of employees c. Giving employees additional authority and responsibility d. Product-oriented layout e. Increased setup timearrow_forwardTo reduce the cost to deliver a product or service to consumers, a company must focus on operational efficiency. O sales mix. O competition. O location.arrow_forward
- Which of the following is a disadvantage of outsourcing? Group of answer choices A. freeing up capacity B. freeing up capital C. transferring production and technology risks D. limiting ability to upsize or downsize productionarrow_forwardIdentify which of the statements below are true (T) or false (F). Lean businesses aim to: Produce many defective products.arrow_forwardCompanies enjoy many benefits from using JIT. Which is not a benefit of adopting JIT? a. Ability to respond quickly to changes in customer demand b. Lower inventory carrying costs c. Ability to continue production despite disruptions in deliveries of raw materials d. More space available for productionarrow_forward
- Explain why a new product costing system may be needed when line managers suggest that an apparently profitable product be dropped.arrow_forwardWhich of the following is NOT a problem associated with standard cost accounting? a. Standard costing motivates management to produce large batches of products and build inventory. b. Applying standard costing leads to product cost distortions in a lean environment. c. Standard costing data are associated with excessive time lags that reduce its usefulness. d. The financial orientation of standard costing may promote bad decisions. e. All of the above are problems with standard costing.arrow_forwardWhat of the following is NOT a Benefit of Activity Based Management? a.It assists in the budgeting process. b.It aids management in cost cutting and/or cost control and inferentially in product profitability. c.It causes managers to identify non-value added activities and therefore encourages thinking of means of reducing such activities. d.Is more complex than traditional accounting system because it uses multiple cost application rates, one for each activity or cost pool.arrow_forward
- Which of the following statements is true regarding CVP analysis? Select one: A. CVP is only useful in a manufacturing context B. CVP cannot be used in service industries C. CVP can be used with multiple products only if the product ratio is fixed and based on a weighted average unit contribution margin D. CVP is useful in all types of business and with any number of products and product mixes E. None of the abovearrow_forwardWhich of the following is not a characteristic of a lean accounting system? Multiple Cholce Costs in the system are organized according to value streams. The system includes both financial and nonfinancial performance indicators. It is most appropriate for firms operating in dynamic and competitive environments. The system incorporates the use of standard costs and standard cost variances. The overall intent of the system is to more accurately reflect improvements associated with lean manufacturing.arrow_forwardThe difference between the average customer’s willingness to pay and the total costs of a product is known as ______. When a company makes a profit, the difference between the price of the product and the cost of production is known as what? Value creation and value capture are key concepts for which parts of business? If a company innovates in a way that reduces its production costs without affecting any features of the product, would that create value? Suppose a price war was to erupt in the airline market, which causes prices for flights to decline, but affected nothing else about the industry. Would this change the value created by airlines? Suppose a price war was to erupt in the airline market, which causes prices for flights to decline, but affected nothing else about the industry. Would this change the value captured by airlines? Please solve all part and do not give solution in image format thankuarrow_forward
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