The storekeeper releases raw materials based on the a. Which of the following is not an assumption of the Economic Order Quantity model? Firms hold safety stock to compensate for a. If the daily demand is 40 units and the lead time is 12 days, the reorder point is a. Which statement is not correct? Which of the following is not a category of critical success factors in most manufacturing companies?
Computer integrated manufacturing groups all of the following technologies except a. Which situation violates the segregation of functions control procedure? All of the following are internal control procedures that should be in place in the conversion cycle except a.
Process simplification focuses on a. A manufacturing process that is organized into group technology cells utilizing no human labor is called a.
Computer Integrated Manufacturing d. An example of automation of manufacturing design is a. Computer Aided Engineering b. Automated Storage and Retrieval Systems c. Computer Numerical Control d. An example of automation of manufacturing planning is a. Materials Requirements Planning d. Firms implement a Just-In-Time inventory approach to a. Characteristics of Just-In-Time manufacturing include all of the following except a.
The cost of poor quality includes all of the following except a. A flexible manufacturing system a. Deficiencies of the traditional cost accounting information system include all of the following except a.
In traditional firms, information reporting a. Types of information provided by Activity Based Costing include a. All of the following are documents in batch process production systems except a. Transaction authorization occurs in a traditional manufacturing environment in all of the following ways except a.
Manufacturing flexibility incorporates four characteristics. These include all of the following except a. The stages of the automation continuum are in order a. Which type of manufacturing creates a homogeneous product through a continuous series of standard procedures? What information is contained in the bill of materials BOM? ANS: The BOM specifies the types and quantities of raw materials and subassemblies used in producing a single unit of finished product.
What is the difference between a materials requisition and a purchase requisition? ANS: A materials requisition authorizes the storekeeper to release materials and subassemblies to the production process. A purchase requisition authorizes the purchasing department to place an order with an external vendor to acquire goods or services.
List one authorization control in the traditional manufacturing environment. ANS: work orders prepared by production planning and control; move tickets signed by the foreman; materials requisitions and excess materials requisitions 5. Explain how Just-In-Time inventory affects setup time and lot size. ANS: In a Just-In-Time process, setup time should be reduced as much as possible, ideally to zero, and lot sizes should be very small to ensure a continuous flow of product through the process.
What is one benefit of the flexible production system? ANS: A flexible production system shortens the physical distance between activities, reducing setup time, processing time, handling costs, and inventories. List two disadvantages of using a traditional cost accounting system. ANS: Cost allocations may be inaccurate; there is a time lag in reporting; information is reported in financial terms; there is an emphasis on standard cost.
In Activity Based Costing, what is the term used to refer to the work performed by a firm? ANS: an activity 9. ANS: an activity or cost driver Explain benchmarking. Provide a specific example of source data automation. ANS: bar coding, magnetic ink character recognition, electronic strip, optical character recognition In a traditional manufacturing environment, cost accounting provides independent verification of what information? What are the benefits? ANS: Cost accounting reconciles materials and labor usage, from the materials requisitions and job tickets, with prescribed standards and identifies significant departures.
Such variance analysis is important for control of the manufacturing process. How are cost structures fundamentally different between the traditional and CIM environments? ANS: In the traditional manufacturing environment, direct labor is a much larger component of total manufacturing costs than in the CIM environment. Overhead, on the other hand, is a far more significant element of cost in advanced technology manufacturing.
What are the key segregation of duties issues in the conversion cycle? ANS: Inventory control must be separated from raw materials and finished goods custody. Cost accounting must be separate from the work centers. General ledger must be separate from other accounting functions. Traditional accounting assumes that products cause costs.
ANS: activities Differentiate between essential and non-essential activities. ANS: Essential activities add value to the organization either through adding value to the customer or to the organization. Non-essential activities do not add value. Name the underlying assumptions of the JIT method. What document signals the completion of the production process? ANS: The receipt by cost accounting of the last move ticket for a batch from the work center signals the completion of the production process.
What document triggers the beginning of the cost accounting process for a given production run? ANS: The work order from the production planning and control department triggers the cost accounting process. Name five documents associated with batch production systems. ANS: Sales forecast, production schedule, bill of materials, route sheet, work order, move ticket, and materials requisition. Krompier Esq. PDF Dr. O Rourke. Financepro Read online - by Brad Klontz.
PDF Handmade for Profit! Anita Feldman. PDF Service America! PDF Smile! New EPUB - by. Wills Read online - by Brian J. Boeken over Productieplanning worden later toegevoegd. Ook hier kan de scheidslijn dun zijn. Welch The Reston Publishing Company. Prentice Hall, Voorraadbeheer in perspectief Dijk v. Kruijtzer en W. Pyke, R. Peterson Wiley, , 3rd ed Produktiebeheersing en Voorraadbeheer Hees, v.
Springer, Ir. Theeuwen,, E. Stahl T. Jenkins Holden Day, San Fransisco. Penguin, Ongecijferdheid Paulos J. Stephan, TC Krehbiel, M.
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