Question 1

Which of the following is not included in manufacturing cycle time?

Accepted Answer

A)  Inspection time. 
B)  Storing time. 
C)  Moving time. 
D)  Marketing time. 
A)  Inspection time. 
B)  Storing time. 
C)  Moving time. 
D)  Marketing time.

Question 2

Which of the following represents value-added time in the manufacturing cycle?

Accepted Answer

A)  Inspection Time. 
B)  Storage Time. 
C)  Move Time. 
D)  Process Time. 
A)  Inspection Time. 
B)  Storage Time. 
C)  Move Time. 
D)  Process Time.

Question 3

In the balanced scorecard, the financial perspective addresses which of the following questions?

Accepted Answer

A)  "To achieve our mission, how will we sustain our ability to change and improve?" 
B)  "To succeed financially, how should we appear to our shareholders?" 
C)  "To satisfy our shareholders and customers, in what business process must we excel?" 
D)  "To achieve our mission, how should we appear to our customers?" 
A)  "To achieve our mission, how will we sustain our ability to change and improve?" 
B)  "To succeed financially, how should we appear to our shareholders?" 
C)  "To satisfy our shareholders and customers, in what business process must we excel?" 
D)  "To achieve our mission, how should we appear to our customers?"

Question 4

________ communicates an organization's strategy into an inclusive set of performance measures that provide the structure for implementing that strategy.

Accepted Answer

A)  Productivity component 
B)  Product differentiation 
C)  Cost leadership 
D)  The balanced scorecard 
A)  Productivity component 
B)  Product differentiation 
C)  Cost leadership 
D)  The balanced scorecard

Question 5

Employee involvement in real decision-making is likely to increase the employee's commitment to the organization and its objectives.

Accepted Answer

A) True 
 B)False

Question 6

Which of the following performance measures would be used to evaluate the personnel department performance?

Accepted Answer

A)  Number of product recalls. 
B)  Percentage of late deliveries. 
C)  Number of requests for transfers. 
D)  Length of time to fill vacant positions. 
A)  Number of product recalls. 
B)  Percentage of late deliveries. 
C)  Number of requests for transfers. 
D)  Length of time to fill vacant positions.

Question 7

Manufacturing cycle efficiency is computed by dividing process time by:

Accepted Answer

A)  moving time + storage time. 
B)  storage time + inspection time. 
C)  moving time + storage time + inspection time. 
D)  process time + moving time + storage time + inspection time. 
A)  moving time + storage time. 
B)  storage time + inspection time. 
C)  moving time + storage time + inspection time. 
D)  process time + moving time + storage time + inspection time.

Question 8

The first step to the successful implementation of a balanced scorecard is specifying the:

Accepted Answer

A)  organization's vision and strategy. 
B)  elements that pertain to value-added aspects of the business. 
C)  owner's expectations about return on investment. 
D)  objectives of all four balanced scorecard measurement perspectives. 
A)  organization's vision and strategy. 
B)  elements that pertain to value-added aspects of the business. 
C)  owner's expectations about return on investment. 
D)  objectives of all four balanced scorecard measurement perspectives.

Question 9

The Boxwood Machining Co. has the following information for last year:
$$\begin{array} { l r } 
\text { Tons of metal input } & 28,000 \
\text { Labor hours } & 10,000 \
\text { Overhead costs } & \$ 125,000 \
\text { Tons of output produced } & 20,000
\end{array}$$
-
The partial productivity for labor is:

Accepted Answer

A)  2.800. 
B)  2.000. 
C)  0.526. 
D)  0.500. 
A)  2.800. 
B)  2.000. 
C)  0.526. 
D)  0.500.

Question 10

Which of the following is typically not considered an objective of quality control?

Accepted Answer

A)  Reduce costs associated with customer complaints. 
B)  Reduce costs of honoring product or service warranty. 
C)  Increase customer satisfaction with product or service. 
D)  Increase the number of deliveries made when promised. 
A)  Reduce costs associated with customer complaints. 
B)  Reduce costs of honoring product or service warranty. 
C)  Increase customer satisfaction with product or service. 
D)  Increase the number of deliveries made when promised.

Question 11

Partial productivity is the ratio of the value of output to the value of all key inputs.

Accepted Answer

A) True 
 B)False

Question 12

Melbourne Inc., has provided the following information for last year:
 $$\begin{array} { l r l } 
\text { Pounds of input } & 42,000 & @ \$ 18 / p o u n d \
\text { Labor hours } & 11,000 & @ \$ 24 / \text { hour } \
\text { Overhead costs } & \$ 187,000 & \
\text { Units of output produced } & 33,000 & @ \text { selling price of } \$ 60 / \text { unit }
\end{array}$$ 
Required:
Calculate the total factor productivity measure.

Accepted Answer

Value of output: 33,000 × $60

Question 13

Which of the following statements is(are) false?
(A) Internal, regional, and local benchmarks should be used for the most important processes and activities in an organization.
(B) In general, the use of multiple measures to evaluate performance is better than the use of a single performance measure.

Accepted Answer

A)  Only A is false. 
B)  Only B is false. 
C)  Both of these are false. 
D)  Neither of these is false. 
A)  Only A is false. 
B)  Only B is false. 
C)  Both of these are false. 
D)  Neither of these is false.

Question 14

What is a business model?

Accepted Answer

A business model, also called a strategy

Question 15

Which of the following is not one of the four views of the balanced scorecard?

Accepted Answer

A)  Financial. 
B)  Competitor performance. 
C)  Internal business process. 
D)  Learning and growth. 
A)  Financial. 
B)  Competitor performance. 
C)  Internal business process. 
D)  Learning and growth.

Question 16

Michael Corporation's management reports that its average manufacturing cycle time is 6.3 days, its manufacturing cycle efficiency is 0.27, its average move time is 0.1 day, and its average storage time is 3.9 days.
Required:
a. What is the process time?
b. What is the inspection time?

Accepted Answer

a.Manufacturing cycle efficiency = Proce

Question 17

________ is a firm's ability to generate products or services that are perceived by its customers as being superior and unique as opposed to those offered by its competitors.

Accepted Answer

A)  Strategy 
B)  Product differentiation 
C)  Cost leadership 
D)  The balanced scorecard 
A)  Strategy 
B)  Product differentiation 
C)  Cost leadership 
D)  The balanced scorecard

Question 18

In general, a balanced scorecard is used to evaluate an organization's performance using:

Accepted Answer

A)  standard costs and variance analysis. 
B)  multiple financial and nonfinancial measures. 
C)  financial statements and ratio analysis. 
D)  the Board of Directors' audit committee. 
A)  standard costs and variance analysis. 
B)  multiple financial and nonfinancial measures. 
C)  financial statements and ratio analysis. 
D)  the Board of Directors' audit committee.

Question 19

Which of the following best describes possible objectives related to the customer perspective of the balanced scorecard?

Accepted Answer

A)  Reduced cycle time, project management. 
B)  Improved relationships, timeliness. 
C)  Increased revenue, reduced costs. 
D)  Employee satisfaction, global knowledge improvement. 
A)  Reduced cycle time, project management. 
B)  Improved relationships, timeliness. 
C)  Increased revenue, reduced costs. 
D)  Employee satisfaction, global knowledge improvement.

Question 20

What is productivity, and what are the differences between partial productivity measures and total factor productivity?

Accepted Answer

Productivity is the efficient conversion

Which of the following is not included in manufacturing cycle time?

Which of the following represents value-added time in the manufacturing cycle?

In the balanced scorecard, the financial perspective addresses which of the following questions?

________ communicates an organization's strategy into an inclusive set of performance measures that provide the structure for implementing that strategy.

Employee involvement in real decision-making is likely to increase the employee's commitment to the organization and its objectives.

Which of the following performance measures would be used to evaluate the personnel department performance?

Manufacturing cycle efficiency is computed by dividing process time by:

The first step to the successful implementation of a balanced scorecard is specifying the:

The Boxwood Machining Co. has the following information for last year: Tons of metal input 28,000 Labor hours 10,000 Overhead costs \ 125,000 Tons of output produced 20,000 - The partial productivity for labor is:

Which of the following is typically not considered an objective of quality control?

Partial productivity is the ratio of the value of output to the value of all key inputs.

Melbourne Inc., has provided the following information for last year: Pounds of input 42,000 @\ 18/pound Labor hours 11,000 @\ 24/ hour Overhead costs \ 187,000 Units of output produced 33,000 @ selling price of \ 60/ unit Required: Calculate the total factor productivity measure.

What is a business model?

Which of the following is not one of the four views of the balanced scorecard?

Michael Corporation's management reports that its average manufacturing cycle time is 6.3 days, its manufacturing cycle efficiency is 0.27, its average move time is 0.1 day, and its average storage time is 3.9 days. Required: a. What is the process time? b. What is the inspection time?

________ is a firm's ability to generate products or services that are perceived by its customers as being superior and unique as opposed to those offered by its competitors.

In general, a balanced scorecard is used to evaluate an organization's performance using:

Which of the following best describes possible objectives related to the customer perspective of the balanced scorecard?

What is productivity, and what are the differences between partial productivity measures and total factor productivity?

Cost Accounting: Information for Decision Making

Cost Concepts and Behavior

Fundamentals of Cost-Volume-Profit Analysis

Fundamentals of Cost Analysis for Decision Making

Cost Estimation

Fundamentals of Product and Service Costing

Job Costing

Process Costing

Activity-Based Costing

Fundamentals of Cost Management

Service Department and Joint Cost Allocation

Fundamentals of Management Control Systems

Planning and Budgeting

Business Unit Performance Measurement

Transfer Pricing

Fundamentals of Variance Analysis

Additional Topics in Variance Analysis

Filters

Exam 18: Performance Measurement to Support Business Strategy

Which of the following is not included in manufacturing cycle time?

Which of the following represents value-added time in the manufacturing cycle?

In the balanced scorecard, the financial perspective addresses which of the following questions?

________ communicates an organization's strategy into an inclusive set of performance measures that provide the structure for implementing that strategy.

Employee involvement in real decision-making is likely to increase the employee's commitment to the organization and its objectives.

Which of the following performance measures would be used to evaluate the personnel department performance?

Manufacturing cycle efficiency is computed by dividing process time by:

The first step to the successful implementation of a balanced scorecard is specifying the:

The Boxwood Machining Co. has the following information for last year: Tons of metal input 28,000 Labor hours 10,000 Overhead costs \ 125,000 Tons of output produced 20,000 - The partial productivity for labor is:

Which of the following is typically not considered an objective of quality control?

Partial productivity is the ratio of the value of output to the value of all key inputs.

Melbourne Inc., has provided the following information for last year: Pounds of input 42,000 @\ 18/pound Labor hours 11,000 @\ 24/ hour Overhead costs \ 187,000 Units of output produced 33,000 @ selling price of \ 60/ unit Required: Calculate the total factor productivity measure.

What is a business model?

Which of the following is not one of the four views of the balanced scorecard?

Michael Corporation's management reports that its average manufacturing cycle time is 6.3 days, its manufacturing cycle efficiency is 0.27, its average move time is 0.1 day, and its average storage time is 3.9 days. Required: a. What is the process time? b. What is the inspection time?

________ is a firm's ability to generate products or services that are perceived by its customers as being superior and unique as opposed to those offered by its competitors.

In general, a balanced scorecard is used to evaluate an organization's performance using:

Which of the following best describes possible objectives related to the customer perspective of the balanced scorecard?

What is productivity, and what are the differences between partial productivity measures and total factor productivity?

Cost Accounting: Information for Decision Making

Cost Concepts and Behavior

Fundamentals of Cost-Volume-Profit Analysis

Fundamentals of Cost Analysis for Decision Making

Cost Estimation

Fundamentals of Product and Service Costing

Job Costing

Process Costing

Activity-Based Costing

Fundamentals of Cost Management

Service Department and Joint Cost Allocation

Fundamentals of Management Control Systems

Planning and Budgeting

Business Unit Performance Measurement

Transfer Pricing

Fundamentals of Variance Analysis

Additional Topics in Variance Analysis

Filters