Which of the following is not true regarding continuous improvement?A. It applies to both service and manufacturing companies.B. It is used to reduce performance costs.C. It rejects the idea of “good enough.”D. It can be applied only to improve processes and products but not services and practices.
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Which of the following is not true regarding continuous improvement?
A. It applies to both service and manufacturing companies.
B. It is used to reduce performance costs.
C. It rejects the idea of “good enough.”
D. It can be applied only to improve processes and products but not services and practices.
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- Which of the following is not a consideration when a manager is deciding to discontinue a product or product line? Whether the product has a positive or negative contribution margin. Determining if direct fixed costs could be avoided if the product or product line is discontinued. If discontinuing the product or product line will affect sales of remaining products. Not having any free capacity.Which of the following statements are false? SELECT ALL THAT APPLY a. One of the dangers of allocating common fixed costs to a product line is that such allocations can make the line appear less profitable than it really is. b. A new fixed cost that must be paid if a special offer is accepted is not relevant in making the decision. c. A cost that will be incurred regardless of which course of action a manager takes is relevant to the manager's decision. d. Your Company is considering replacing Machine X. The original cost of Machine X is not relevant to this decision.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 production
- Cite a specific example of non-value added activity that can be eliminated in a particular industry. Justify your answer.Which of the following statements best describes the traditional view of quality? A All of the answers are correct. B The traditional view of quality holds that firms can reduce total costs by tolerating some level of defective goods. C The traditional view of quality holds that firms can reduce total costs by producing higher-quality goods. D The traditional view of quality assumes that improving quality seldom requires increasing costs.Which of the following decreases the non-value added time of producing a product and in turn increases the quality of the product?a. Redesigning products b. Increasing movements of subassemblies c. Adding processes in production d. Increasing time spent on delivery of products
- “If a product line is generating a loss, then it should be discontinued.” Do you agree? Explain.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.What 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.
- When deciding whether to sell as is or process a product further, managers should ignore which of the following? a. The costs of processing the product thus far b. The cost of processing further c. The revenue if the product is sold as is d. The revenue if the product is processed furtherWhich 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 production2. What are some possible drawbacks to using standard costs that Sarah might consider? a. Standards limit operating improvements because employees may be discouraged from improving beyond the standards. b. Standards may become “stale” in a dynamic manufacturing environment. c. Employees may focus only on efficiency improvement and their own operations rather than considering the larger objectives of the organization. d. Since standards are impossible to attain, they are a distraction from the work at hand. e. Since standards never change, they do not reflect reality.