20 x12 ABC C - CostAccountingSystems...

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Cost Accounting Systems (C. Strategic Cost Management and JIT) STRATEGIC COST MANAGEMENT AND JIT THEORIES: 1. The major functions of management are A. strategic management and long-range planning. B. planning and decision making. C. identifying threats and opportunities for the firm. D. all of the above. 2. The three major types of competitive strategy include A. cost leadership, differentiation, and productivity. B. cost leadership, focus, and productivity. C. differentiation, focus, and productivity. D. cost leadership, differentiation, and focus. 3. Sustainability means the balancing of A. short term and long term goals in economic performance. B. short term and long term goals in social aspects. C. short term and long term goals in environmental aspects. D. all of the above. 4. Simultaneous engineering can be used to A. reduce both product and process complexity. B. integrate activity-based costing with value chain analysis. C. reduce the time-to-market of new products through elimination of batch-level activities. D. reduce manufacturing cycle efficiency by reducing process waste. 5. Engaging in which of the following will result in radical changes being made to an organization's processes? A. Continuous improvement C. Reengineering B. Benchmarking D. Mass customization 6. In the contemporary business environment, cost management focus is on A. financial reporting and cost analysis. B. common emphasis on standardization and standard costs. C. development and implementation of the business strategy. D. a and c. 7. Which focuses on process improvement, process innovation, or business reengineering? A.. functional-based responsibility accounting B. activity-based responsibility accounting C. strategic-based responsibility accounting D. none of the above 8. The optimal level in the optimal cost management system is when A. measurement costs are greater than error costs B. measurement costs are less than error costs C. the total of measurement costs and error costs are minimized D. both b and c 9. A repetitive action fulfilling a business function and increasing the worth of the product and the price that the customer is willing to pay for the product is referred to as a: A. non-value added activity B. value-added activity C. business value-added activity D. activity analysis 10. The actual time that a product must be delayed while waiting to be processed is called: A. service time C. transfer time B. inspection time D. idle time 11. The resource utilized by a given product divided by the total amount of the resource available is called the A. activity driver C. cost object B. consumption ratio D. sustaining activity 12. The primary objective of just-in-time processing is to 37
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Cost Accounting Systems (C. Strategic Cost Management and JIT) A. accumulate overhead in activity cost pools B. eliminate or reduce all manufacturing inventories C. identify relevant activity cost drivers D. none of them 13. The benefits of a successful Just-In-Time system include all of the following except: A. funds tied up in inventories are released for use elsewhere.
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This note was uploaded on 11/22/2010 for the course CAC BSA taught by Professor Kairus during the Spring '10 term at Korea University.

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20 x12 ABC C - CostAccountingSystems...

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