Which is not true in lean manufacturing? a) Process flexibility results in market responsiveness b) Setup time reduction is essential to achieve process flexibility Oc) Setup time reduction leads to increased batch quantities in production d) All of these are true
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- 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 productionWhy would a lean manufacturer strive to produce zero defects?When operating in a constrained environment, which products should be produced? A. products with the highest contribution margin per unit B. products with the highest contribution margin per unit of the constrained process C. products with the highest selling price D. products with the lowest allocated joint cost
- ) Why do product-costing systems based on a single, volume-based cost driver tend to over-cost high-volume products? What undesirable strategic effects can such distortion of product costs have?In a Lean Culture How can a reduction in delays in one part of a process happen without negatively impacting another part?What are some reasons for erring on the side of having too much inventory rather than too little?Which one of the following is a disadvantage of Mass Production system? a. Higher level of inventory at all levels and hence higher inventory cost. b. Larger space requirements. c. Breakdown of one machine will stop an entire production line. d. Higher cost due to frequent set up changes.
- As a result of cost distortion, some products will be overcosted while other products will be undercosted. True FalseWhich 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 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.
- Cost accounting logic can lead managers to keep their resources busy all the time, increasing productivity with no regard to demand. What is the negative result of this effect?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.Which of the following statements regarding assumptions and limitations of CVP analysis is not correct? Multiple Choice If unit prices change (for example, if the unit prices are lower for higher volumes), CVP analysis cannot be used. CVP analysis relies on certain assumptions and these assumptions might limit the applicability of the results for decision making. CVP analysis is a tool that the manager can use to help with decisions. The assumptions of constant unit variable cost and constant unit prices for all levels of volume as important limitations of CVP analysis. The limitations are due to the assumptions that the cost analyst makes; that is, they are not inherent limitations to the method of CVP analysis itself.