a. The direct materials costs budget d. physical facilities and procedures, As customization of services increases, _____ become(s) a bigger factor in the ability to provide high quality service to the customers. He stated that to get top management's attention, quality issues must be cast in the language of money. refers to the working document managers may use at the core of the ongoing budget-related process. Budgeted unit sales The shareholder expectations b. View Answer, 9. b. a. d. Downgrading costs, _____ costs are costs expended on ascertaining quality levels through measurement and analysis of data to detect and correct problems. d. It attempts to achieve radical improvements in a very short time period. d. external failure costs, Which of the following is a core philosophy of Six Sigma? c. Reengineering a. The budgeted income statement a. c. incurred as a result of unsatisfactory quality that is found before the delivery of a good or service to the customer. d. prevent the errors in a process from occurring again in the future. Which of the following statements is true of driver analysis? c. They require lesser attention from the employees compared to value-creation processes. B) Just-in-time (JIT). Which of the following aspects of manufacturing must be understood in order to implement activity based costing in a production setting? Which of the following is true of support processes? Today, the Kaizen approach is used in all industries: it is referred to as lean management or agile management which aims to improve a company's performance by involving all employees. a. John Adams was the United States' second president. c. Benchmarking Which of the following actions enables the manager to integrate continuous improvement for the new year during the budget period into the budget numbers? a. The operating budget b. process mapping a. training provided to the employees a. d. ISO. A d. Kaizen techniques are more easily applied at the floor level. The materials supplied by a certified supplier do not require manufacturers to conduct routine testing on all the lots supplied. Answer a variant is always a durable good with new features. ANS: B. ______________ is when the product loses market acceptance. Customers may not be willing to pay the price determined by the procedure. Foreign demand for a country's currency minus foreign supply. Investments, revenues, and costs a. Prevention 2,110 units You'll get a detailed solution from a subject matter expert that helps you learn core concepts. b. Which of the following statements is true regarding kaizen? Theorganizationshould always seek perfection in some departments of theorganizationonly as perfection cannot be achieved in all departments.C . Process control in manufacturing starts with the _____ process. those expended on ascertaining quality levels through measurement and analysis of data to detect and correct problems. The following is a list of characters that appear in Young Justice.. a. customer errors in preparation. b. d. symptom, __________ is a business improvement approach that seeks to find and eliminate causes of defects and errors in manufacturing and service processes by focusing on outputs that are critical to customers, resulting in a clear financial return for the organization. Which of the following statements about activity-based management (ABM) is/are true? To practice all areas of Total Quality Management, here is complete set of 1000+ Multiple Choice Questions and Answers. b. Pareto diagram Which of the following product costing methods produces the most precise product costing information? a. Determine price based on the amount management believes customers are willing to pay. The manager may earn revenues and incur expenses from different countries a. define It involves only the top management of theorganization. We offer the kind of experience and talent you'd expect from a much larger firm. b. The ultimate goal is to provide perfect value to the customer through a perfect value creation process that has zero waste. a. Senior managers spend 10-20% of time developing budgets. Flowcharts enable management to study and analyze processes prior to implementation. Employees from all relevant areas are involved in the process. In a cost-based pricing approach, the last amount to be determined is: For cost-based pricing in multiple-product companies, which of the following is most likely to be used as a possible cost basis? Senior managers spend 10-20% of time on budget-related issues. The practical capacity for a particular production facility is best described as: The highest level of activity possible allowing for normal repairs and maintenance. They are also responsible for taking corrective measures when they identify variations in the products. d. determining how to measure a process and how it is performing. Determining how much direct labor each cost object consumes. The current account plus the capital account. 400 units d. It recognizes that manufacturing and service delivery systems must execute quality specifications well. Which of the following steps is associated with the activity-based costing dimension of an activity-based management (ABM) implementation model? The operating budget, Which of the following choices is referred to as the degree of influence a manager has over costs, revenues, or related items for which he or she is responsible? a.It involves identification of the volume variance and the unused capacity variance. c. design View Answer, 3. number of defects discovered/ number of units produced. c. It requires very large financial investments. The production budget c. maintaining consistency in output by assessing performance and taking corrective action when necessary. tangibles, reliability, responsiveness, assurance, and empathy. Which of the following is true of the cost dimension of the activity-based management model? c. Minimizing the gaps in the gap model seriously degrades the quality of a service and presents the risk of losing customer loyalty. d. kanban and jidoka. d. affinity diagram. true The design aspect of process management focuses on continually seeking to achieve higher levels of performance, such as reduced variation, higher yields, fewer defects and errors, and smaller cycle times false Processes must be measurable and repeatable in order to apply the techniques of process management. answer choices. Kaizen or Continuous Improvement is a philosophy that focuses on continual improvement. Reduction in cycle time of a process leads to improvement in quality of products as it reduces the potential for mistakes and errors. In true KAIZEN form the authors converted this concern into a problem statement, "The success rate for an organization adopting KAIZEN is less than 100 percent". to cancer. Matt Elson op LinkedIn: #kaizen #tps #toyotaproductionsystem #tntkaizen #pdca Senior managers encounter challenges and advantages while implementing budgets. It relies on dramatic structural changes and immediate improvement to achieve success. It was established to differentiate quality requirements of European countries from other countries. Which of the following statements is not true about benchmarking strategy of TQM? 5. Which of the following statements is true of activity-based costing? Senior managers who implement budgets develop a framework to judge performance. The manager at a multinational company can ignore the political, legal, and economic environment of a foreign country when planning, preparing and implementing budgets. c. Avoiding errors per million opportunities as a standard metric Suppliers include only those companies that provide materials and components that are required for manufacturing a product. a. a. What is a sunk cost? Investment center Which of the following is the first step involved in designing a manufacturing process? allows managers to update information to accommodate changes to cost and revenue by adding a month, quarter, or year after the end of a period It was developed by Kaoru Ishikawa. 1. A kaizen blitz is an improvement initiative that is gradual and continuous and is performed on a part-time basis. b. Deming philosophy In the context of the three major activities involved in process management, the quality team at Nigre, is engaged in the _____ activity of process management. d. Benchmarking, Supply chains help organizations to create a competitive advantage in _____. Today KAIZEN is recognized worldwide as an essential pillar of an organization's long-term competitive strategy. 1. View Answer, 10. a. B) ABM focuses managerial attention on what is most important among the activities performed to create value for customers. c. purchasing This is an example of a poka-yoke technique designed to prevent: c. Failure to understand and minimize gaps presents the risk of losing customer loyalty. the most important b. improvement c. job enrichment c. Scatter diagrams The following data pertain to the activity for the most recent year:Activity supply: 3,000 hours (two scheduling officers @ 1,500 hours per year)Scheduling officer cost (salary): $18,000 per yearActual usage: 3,500 scheduling hoursCalculate the unused capacity variance. which of the following statements about water activity is not true? c. internal failure costs 3,200 units Scrap and rework costs It focuses on bringing about improvements in product and service quality by reducing variability in goods and services design and associated processes. Moreover, it means continuing . The approach, therefore, requires a corporate culture adapted to this philosophy, and sometimes even guidance to change. refers to approaches that produce exceptional results, are usually innovative in terms of the use of technology or human resources, and are recognized by customers or industry experts. b. do not add value directly to the product or service. You hear a functional manager saying, "We are going to skip the closing stage. c. Process mapping b. It is based on the concept of continuous improvement. $$. It relies on dramatic structural changes and immediate improvement to achieve success. 30 seconds. a. c. 50-fold a. Kaizen is about decreasing waste by eliminating overproduction, improving quality, being more efficient, having less idle time, and reducing unnecessary activities. Company Description. a. Working on the wrong order c. It is performed on a part-time basis. Increasing non-value-added activities b. identifying customers and their priorities. ______________ is the time a product exists--from conception to abandonment. Which of the following responsibility centers does this manager control? Identify a true statement about kaizen. b. b. It focuses on small, gradual, and frequentimprovements. d. Conducting a detailed technical analysis of the characteristics of the product, A(n) _____ is a design tool that enables management to study and analyze processes prior to implementation in order to improve quality and operational performance. Which of the following statements is true of performance evaluation under an activity-based responsibility accounting system? Which of the following statements is true of Dr. W. Edwards Deming's philosophy of quality management? costs irrelevant in making decisions about future actions. B) Activity-based management is concerned with minimizing the cost of activities. Which of the following is a prevention cost? The impact of other process on a particular process must be considered while designing the process, as processes rarely operate in isolation. Both A and C. The word "Kaizen" is Japanese for: Continuous improvement _____ calls for establishing cost reduction targets for products or services that an organization is currently providing to customers. a. d. Its standards apply to all types of businesses, including electronics and chemicals. d. Breakthrough. It involves only the top management of the organization. a. professional judgement of the employees It is an intense, rapid improvement process. We offer the kind of experience and talent you'd expect from a much larger firm. Investments only, The production budget is prepared after the ________. b. improve the process by increasing the efficiency of the manufacturing systems. 30 Q True or false: Only a small proportion of the light reaching Earth is absorbed by plants and used for photosynthesis. Supplier certification processes can be time-consuming and expensive to administer. C. It takes the view that all employees are responsible for continuous improvement. d. Product manufacturing. c. Lack of courteous behavior Calculate the number of finished goods in units to be produced by McKensie. A kaizen blitz, or kaizen event, is a short-term improvement project designed to accomplish significant results in process quality issues. Quality is fitness for use. He stated that to get top management's attention, quality issues must be cast in the language of money. Any activity directed toward improvement falls under the kaizen umbrella. In this case, the costs incurred by Josephine's T-Shirts are an example of _____. a. (C) It is raising the performance standards of the organization. a. determining the most likely causes of defects. 8.28 When comparing breakthrough achievement with kaizen techniques, which of the following statements is true? Revenues only For the population of women whose mothers took the drug DES during pregnancy, a a. a. d. Most of the techniques of poka-yoke are expensive and extremely complex to implement. Moreover, 6,5 years of expertise . b. Metrics often include lead and cycle times, process defect rates, movement . It assists organizations in recruiting the most suitable employees whose values match the culture of the organization. (D) It is a people driven activity. If you deposit $10,000 at 1,85% interest, compounded continuously, what would your ending balance be after three years? C) Activity-based management is concerned with improving processes. c) Conflict resolution Which of the following statements is true of kaizen? d. identifying means to remove the causes of defects. 4) The order quantity will be larger for the kanban/ lean production approach. 450 units A b. d. scatter diagram, The principles of customer focus, leadership, engagement, process approach, improvement, evidence-based decision making, and relationship management support the __________. This job supplements my primary area of expertise, "Security & Authorization (S&A)." In total, 8+ years of experience with SAP authorizations. b. 20-fold Removing the frustration that jobseekers have while applying for job after job, and only . Question 2. Which of the following statements is true of the GAP model? c. Process mapping The A and C statements are both true; hence, this is where you . b. appraisal costs d. It attempts to achieve radical improvementsin a very short time period. Budgeted unit sales b. rarely align with the organization's core competencies and strategic objectives. Which of the following is one of the three major activities in process management that focuses on maintaining consistency in output by assessing performance and taking corrective action when necessary? consists of the budgeted income statement and supporting budgets, allows managers to update information to accommodate changes to cost and revenue by adding a month, quarter, or year after the end of a period, Budgetary slack ________. The statement of financial position, income statement and statement of cash flows are used for financial accounting but not for management accounting. Experts are tested by Chegg as specialists in their subject area. Kaizen refers to _________ Total quality management Theorganizationshould always seek perfection. Budgeted unit sales Units of finished goods to be produced Which of the following statements is NOT true about the advantages of budgeting? Which one of the following statements is TRUE? Don Herrmann, J. David Spiceland, Wayne Thomas, Fundamentals of Financial Management, Concise Edition, Claudia Bienias Gilbertson, Debra Gentene, Mark W Lehman. Prevention costs In General Electric's Six Sigma problem-solving approach, the improve phase involves: a) Kaizen yields small continuous improvements, Six Sigma yields sudden big improvements. refers specifically to the costs associated with avoiding poor quality or those incurred as a result of poor quality. b. repeatable and measurable a. . What is the key factor in the Court's decision to hear a case? Product designing What is the major difference between a negotiated purchase and a competitive bid purchase? c. Public relations Which of the following is one of the three major activities in process management that focuses on maintaining consistency in output by assessing performance and taking corrective action when necessary? Which of the following does Kaizen improvement process not focus on? The manager uses Kaizen budgeting to achieve higher levels of performance through psychological motivation. is the practice of underestimating budgeted revenues or overestimating budgeted costs to make budgeted targets easier to achieve Which of the following statements is true? c. Financial accounting is broader in scope than management accounting. Kaizen budgeting refers to differences between budgeted and actual results. In a six sigma process, moving from a three- to a four-sigma level requires about a 10-fold improvement, and moving from a five- to a six-sigma level requires almost a _____ improvement. C. A country's capital inflow minus its capital outflow. Which of the following tasks is not required when using a two-stage activity-based costing model? Including electronics and chemicals d ) It is performed on a part-time.! Errors in a very short time period John Adams was the United States & # x27 ; d from. 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