Increased competition technological innovation and a

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Financial and Managerial Accounting Using Excel for Success
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Chapter 19 / Exercise PE 19–1B
Financial and Managerial Accounting Using Excel for Success
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84. Increased competition, technological innovation, and a shift from mass production of standardized products to custom-produced products in many industries have increased the need for productivity improvements and flexibility of production systems. In response to these demands, organizations have increased their reliance on automation and the use of advanced technologies in their operations. Which of the following is an example of the use of automation and advanced technologies? a. Flexible manufacturing system (FMS) b. Just-in-time (JIT) system c. Master budgeting system (MBS) d. Economic order quantity (EOQ)
85. Traditionally, large manufacturers have believed that economics of scale gained through large production runs of like, or similar, products are the best way to keep production costs down and remain competitive. Select the most appropriate response to whether this theory is still valid.
86. The benefits of a just-in-time system for raw materials usually include.
87. Companies that adopt just-in-time purchasing system often experience
88. Bell Co. changed form a traditional manufacturer to philosophy to just-in-time philosophy. What are the expected effects of this change on Bell’s inventory turnover and inventory as a percentage of total assets reported on Bell’s balance sheet? Inventory Inventory Turnover Percentage a. Decrease Decrease b. Decrease Increase c. Increase Decrease d. Increase Increase
89. Which changed in costs are most conducive to switching from a traditional inventory ordering system to a just-time ordering system?
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Financial and Managerial Accounting Using Excel for Success
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Chapter 19 / Exercise PE 19–1B
Financial and Managerial Accounting Using Excel for Success
Reeve/Warren
Expert Verified

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