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| 1 | |
Which of the following components of the value chain is designed to provide information to potential customers and make products and services accessible to customers? |
| | A) | Research and development (R&D) and design activities |
| | B) | Suppliers and production-related activities |
| | C) | Marketing and distribution activities |
| | D) | Customer service activities |
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| 2 | |
Which of the following is a non-value-added activity? |
| | A) | Clear and truthful advertising |
| | B) | Designs that meet engineering specifications but have limited customer input |
| | C) | Competent and timely after-sales customer help |
| | D) | Use of suppliers that provide high-quality inputs |
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| 3 | |
Which of the following is a basic procedure related to activity-based costing (ABC)? |
| | A) | Identifying activities |
| | B) | Creating an associated activity cost pool |
| | C) | Identifying an activity measure |
| | D) | All of the above |
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| 4 | |
At which stage of a product’s life cycle is target cost determined? |
| | A) | Planning and marketing analysis |
| | B) | Product development |
| | C) | Production design |
| | D) | Concept design |
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| 5 | |
The four components of target costing are which of the following? |
| | A) | Planning and market analysis, Concept development, Production design and value engineering, and Production and continuous improvement. |
| | B) | Planning and market analysis, Concept development, Marketing and distribution, and Customer service activities. |
| | C) | Research and development, Suppliers and production-related activities, Marketing and distribution, and Customer service. |
| | D) | Planning and market analysis, Suppliers and production-related activities, Production design and value engineering, and Continuous improvement. |
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| 6 | |
Which of the following is a philosophy of JIT? |
| | A) | Eliminating non-value-added activities and increasing value-added activities |
| | B) | Eliminating non-value-added activities and decreasing value-added activities |
| | C) | Eliminating non-value-added activities and increasing product quality |
| | D) | Accomplishing production in the quickest time possible |
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| 7 | |
Which is essential to a successful just-in-time (JIT) manufacturing system? |
| | A) | Short-term relationships with quality vendors |
| | B) | Extremely specialized employees |
| | C) | Efficient plant layout |
| | D) | Unreliable equipment |
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| 8 | |
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What is the manufacturing efficiency ratio? |
| | A) | Less than 30 percent |
| | B) | Greater than 60 percent |
| | C) | 36.4 percent |
| | D) | 45.5 percent |
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| 9 | |
Costs that are included as the cost of resources consumed in activities that prevent defects from occurring are called which type of quality costs? |
| | A) | Prevention costs |
| | B) | Appraisal costs |
| | C) | Internal failure costs |
| | D) | External failure costs |
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| 10 | |
Which of the following are techniques commonly used by organizations to manage costs over their value chain? |
| | A) | Activity-based management |
| | B) | The target costing process |
| | C) | Just-in-time procedures |
| | D) | All of the above |
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