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106. Investigating production variances and adjusting the production process is an example ofa. planning.b. control.c. internal auditing.d. both a and c.ANSWER: b107. In a performance report, the108. Evaluating the performance of a segment of the company is an example of
Chapter 1: Introduction to Cost Management109. The formulation of a program for the accomplishment of a specific purpose is referred to as110. The manager has to decide what tasks are needed and how they should be accomplished. This statement describesa. the organization chart.b. planning.c. organizing.d. none of these.ANSWER: b111. The monitoring of a plan's implementation is called112. Inspecting units produced to determine if they meet specifications is an example of113. Continuous improvement is
Chapter 1: Introduction to Cost Management114. Which of the following describes the managerial activity of comparing actual results with budgeted results?a. controlb. continuous improvementc. planningd. decision makingANSWER: a115. Managers are considering outsourcing sub-components of production. Data is collected about the costs of makingthe sub-component. Different bids are sought about the purchase of the sub-components. Which managerial activityis applicable in this situation?116. In a company, engineers have redesigned production processes lowering production costs, shortening productioncycle time, reducing waste and improving quality. Which type of managerial activity applies to this situation?