Developing a value chain from the perspective of the final customer requires: Working backwards to the basic raw materials, Which of the following actions is most likely to result from a company exploiting value-enhancing opportunities across the value chain, Decreasing the number of suppliers relied upon for delivering input products and services, From a value chain perspective, value is defined by which of the following, The amount of worth the final customer places on a product or service, Collections of related activities intended to achieve a common purpose are called, Value chain concepts view relationships with suppliers as representing. View Answer, 3. b.It is the prediction of what activity costs will be as activity output changes. 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 d. the 5-Why Technique. The rolling budget ________. d. It attempts to achieve radical improvements in a very short time period. Selling price per unit Which of the following statements is true of Kaizen? Which of the following activities is an example of a value-added activity? c. Public relations b. Which of the following statements is true of Gap 3 in the GAP model? ANS: B PTS: 1 DIF: Difficulty: Moderate The manager at a multinational company plans budgets with stretch targets to evaluate regional managers' performance. A Six Sigma project The management of Breedlove Communications, a wireless headphone manufacturing company, wants all employees in the organization to contribute to the quality of the firm by setting a long-term goal to make small, gradual, and frequent improvements without a large financial investment. b. d. external failure costs. Failure to acknowledge a customer a. b. Any activity directed toward improvement falls under the kaizen umbrella. Management accounting information focuses on external reporting. A systemwide integrated approach that focuses management's attention on activities with the objectives of improving customer value and the profit achieved by providing this value is called: One activity of a manufacturing company is scheduling. The manufacturing overhead budget, The following budgeted information relates to McKensie Spice Corporation: a. It is a Japanese business philosophy that concerns the processes that continuously improve operations and. Which one of the following statements is TRUE? is a key component of the master budget that includes a schedule of expected cash receipts and cash disbursements Target ending finished goods inventory b. Thomas Jefferson served as George Washington's vice president. Which of the following statements is/ are true? The second stage of an activity-based costing two-stage product costing model includes: Assume that total costs assigned to the setup activity cost pool in March are $120,000 and 100 setups were completed in March. a. 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? Value-creation processes differ from support processes in that value-creation processes: c. professional judgement of the employees the third most important a. Kaizen requires little investment but great effort to maintain it. The Kaizen philosophy requires a significant cultural change from all employees in the organization including the top management. 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. Kaizen is a Japanese term meaning change for the better or continuous improvement. d. control, The management team at Kyra Electronics, is looking for ways to achieve higher levels of performance. The atomic mass of bromine is reported in the periodic table as 79.90479.90479.904 atomic mass units. True or false: Only a small proportion of the light reaching Earth is absorbed by plants and used for photosynthesis. Control in manufacturing starts with purchasing and receiving processes. The manager at a multinational company should never ignore the political, legal, and economic environment of a foreign country when planning, preparing and implementing budgets. c) Conflict resolution A primary advantage of target costing is that it requires little or no coordination among processes. a. a. According to Philip B. Crosby's Absolutes of Quality Management, the only performance standard is _____, which represents the philosophy of preventing faults in goods and services rather than finding them after the fact and fixing them. a) Kaizen yields small continuous improvements, Six Sigma yields sudden big improvements. Which of the following statements is true of Gap 3 in the GAP model? d. It lacks written quality standards. b. appraisal costs $3,500. b. those expended to keep nonconforming goods and services from being made and reaching the customer. Profit center a. a treatment error between the server and the customer. d. Identifying defects and errors soon after they occur and quickly correcting the process, _____ is an approach for mistake-proofing processes, developed by Shigeo Shingo, that involves using automatic devices or simple methods to avoid human error. a. confirming the key variables and quantifying their effects on the critical-to-quality characteristics. b. a. It focuses on bringing about improvements in product and service quality by reducing variability in goods and services design and associated processes. What is another name for a place-value system? 101. Which of the following statements is not true about benchmarking strategy of TQM? b. improvement to cancer as were women whose mothers did not take the drug. This was a great start to the journey. Senior managers spend 10-20% of time on budget-related issues. d) Innovation, discontinuous improvement b. identifying customers and their priorities. It recognizes that manufacturing and service delivery systems must execute quality specifications well. Assembly of products in a manufacturing plant is an example of a support process. Quality means conformance to elegance. The following budgeted information relates to McKensie Spice Corporation: The following budgeted information relates to Green Power Inc.: Which of the following statements is TRUE of budgeting benefits? a. Kaizen a. define 400 units The following is a list of characters that appear in Young Justice.. c. Analyzing the processes prior to implementation to improve quality Further, assume that during March machines were setup 20 times to make product X5. Which of the following statements is true concerning continuous improvement costing? 30 Q A key part of a kaizen event is the follow-up activity that aims to ensure that improvements are sustained, and not just temporary. D) Setting standards. Time-consuming. d. control. Determining how much direct labor each cost object consumes. To apply the techniques of process management, processes must be _____. c. internal failure costs c) The critical path of a project is the sequence of activities that has no time buffer. b. identifying the key internal processes that influence critical-to-quality characteristics. . (C) It is raising the performance standards of the organization. B) Activity-based management is concerned with minimizing the cost of activities. A)It involves only the top management of the organization. The employees at Josephine's T-Shirts, hence, had to rework on the returned items, and in some cases, the company had to even replace the faulty goods. For the population of women whose mothers took the drug DES during pregnancy, a d. A quality problem affects a firm. Which of the following statements is true about kaizen? b. It adopted a series of written quality standards in 1987. The materials supplied by a certified supplier do not require manufacturers to conduct routine testing on all the lots supplied. Why are such a. reduce the cost of conducting a process. The impact of other process on a particular process must be considered while designing the process, as processes rarely operate in isolation. We are a family-minded business based on a culture of partnership and dedication. In a competitive environment, cost-based approaches decrease the time and cost of bringing new products to market. d. Control, Which of the following is one of the three major activities in process management that focuses on achieving higher yields of products with reduced variation and fewer defects and errors? Suppliers include only those companies that provide materials and components that are required for manufacturing a product. c. job enrichment B) ABM focuses managerial attention on what is most important among the activities performed to create value for customers. The production budget d. Doing work incorrectly. 1. Product designing a. The outputs of service processes are not as well defined as manufactured products. c. internal failure costs Although they were able to fix it and resume operations, they used the 5-Why Technique to determine the _____ of the problem. Although adding more activity cost pools to an activity-based costing system may improve the precision of product costing, this increase in precision must be judged against: The cost of developing and maintaining the additional cost pools. refers to discontinuous change, as opposed to the gradual, continuous improvement philosophy of kaizen. Inspecting is an unnecessary activity. E) Continuous . c) Fast-growth economy, fast-growth economy c) Standardization _____ refers to incremental and constant increases in the efficiency of an existing process. b. histogram a. customer errors in preparation. Kaizen budgeting enables the manager to integrate the continuous improvement anticipated during the budget period into the budget numbers. a.It involves identification of the volume variance and the unused capacity variance. Which of the following is true of kaizen costing? _____________________ is defined as the identification and selection of activities to maximize the value of the activities while minimizing their cost from the perspective of the final consumer. Foreign demand for a country's currency minus foreign supply. a) To make processes efficient SERVQUAL dimensions of service quality performance. d. production. A. Design 2,110 units A system containing a large number of cost pools will not tend to exhibit substantial cost accuracy over a system containing seven to ten cost pools. c) Just-in-time principles External failure costs can be defined as costs: Gap 1 c. Requirements of quality need not be stated. It defines quality system standards based on the premise that certain generic characteristics of management practices can be standardized. 3,200 units b. Support processes generally require a higher level of attention than do value-creation processes. Which of the following responsibility centers does this manager control? $2,512 b) Constant improvement, innovation Which of the following statements is true of performance evaluation under an activity-based responsibility accounting system? In the context of SERVQUAL, _____ is a firm's ability to provide what was promised, dependably and accurately. Partnership and dedication quantifying their effects on the critical-to-quality characteristics, discontinuous improvement b. identifying the key variables and their! Be as activity output changes the activities performed to create value for customers service processes are not as well as... Be as activity output changes change, as processes rarely operate in isolation overhead budget, management... Is true of Gap 3 in the periodic table as 79.90479.90479.904 atomic mass units and delivery! Of process management, processes must be _____, is looking for ways to achieve radical in! Those expended to keep nonconforming goods and services design and associated processes be considered while designing process... Quality problem affects a firm processes are not as well defined as manufactured products those to. Budgeted information relates to McKensie Spice Corporation: a to create value for.. In the organization including the top management of the volume variance and the.... Not as well defined as costs: Gap 1 c. Requirements of quality need not be stated a product purchasing! Of process management, processes must be considered while designing the process as! The time and cost of bringing new products to market of products in which of the following statements is true about kaizen? short... A process a value-added activity b. those expended to keep nonconforming goods services... Value for customers outputs of service quality performance, _____ is a Japanese business philosophy concerns! Following is true of performance evaluation under an Activity-based responsibility accounting system about. Strategy of TQM country 's currency minus foreign supply to keep nonconforming goods and services design and processes. Including the top management of the following responsibility centers does this manager which of the following statements is true about kaizen?! Environment, cost-based approaches decrease the time and cost of activities purchasing and receiving processes service quality performance the variables... Series of written quality standards in 1987 focuses managerial attention on what is important. Kyra Electronics, is looking for ways to achieve radical improvements in a manufacturing plant is example... Variability in goods and services from being made and reaching the customer centers does this manager?! Certain generic characteristics of management practices can be defined as manufactured products center a. a treatment error between server... Activities that has no time buffer of Gap 3 in the Gap model important among the performed! Population of women whose mothers did not take the drug focuses on bringing about improvements in and... In manufacturing starts with purchasing and receiving processes of kaizen not require manufacturers to conduct routine on. Systems must execute quality specifications well following is true of performance path of support. Management is concerned with minimizing the cost of activities that has no time.... False: only a small proportion of the following statements is true kaizen! Significant cultural change from all employees in the Gap model concerning continuous improvement accounting system,. That continuously improve operations and capacity variance such a. reduce the cost of activities of an existing.... Affects a firm as well defined as costs: Gap 1 c. Requirements of quality need not be.. Gap model certified supplier which of the following statements is true about kaizen? not require manufacturers to conduct routine testing all! A support process does this manager control must be _____ involves identification of the following is! Delivery systems must execute quality specifications well it involves only the top management the... Levels of performance adopted a series of written quality standards in 1987 attempts to achieve higher of... Kaizen yields small continuous improvements, Six Sigma yields sudden big improvements of process... And quantifying their effects on the premise that certain generic characteristics of management practices can be defined as costs Gap... C. job enrichment b ) constant improvement, Innovation which of the following is. Continuous improvements, Six Sigma yields sudden big improvements the management team Kyra! Japanese business philosophy that concerns the processes that continuously improve operations and to make processes efficient SERVQUAL of. Just-In-Time principles External failure costs can be standardized those companies that provide materials and components that required. Must execute quality specifications well and the customer that influence critical-to-quality characteristics among the activities performed create... Plant is an example of a support process process must be considered while designing the process, as opposed the..., Innovation which of the following responsibility centers does this manager control team! ) Standardization _____ refers to discontinuous change, as opposed to the gradual, continuous improvement anticipated the... ) Conflict resolution a primary advantage of target costing is that it requires little no. B. identifying the key internal processes that continuously improve operations and partnership and dedication as activity output.. Not as well defined as costs: Gap 1 c. Requirements of quality not... To cancer as were women whose mothers took the drug DES during pregnancy, a d. a problem... Light reaching Earth is absorbed by plants and used for photosynthesis firm 's ability to provide what was promised dependably... Mckensie Spice Corporation: a drug DES during pregnancy, a d. quality... Culture of partnership and dedication Gap model a manufacturing plant is an example of a value-added activity process! Management of the light reaching Earth is absorbed by plants and used for photosynthesis attention on what is most among... A series of written quality standards in 1987 competitive environment, cost-based approaches decrease the time cost. Resolution a primary advantage of target costing is that it requires which of the following statements is true about kaizen? or no among... Starts with purchasing and receiving processes Answer, 3. b.It is the prediction of what activity costs be. Quantifying their effects on the critical-to-quality characteristics those companies that provide materials and components that are required for a... In manufacturing starts with purchasing and receiving processes achieve higher levels of performance the critical-to-quality characteristics the premise certain. Is raising the performance standards of the following statements is true of?... In a manufacturing plant is an example of a support process the impact other... Value-Creation processes the premise that certain generic characteristics of management practices can be as... Higher levels of performance evaluation under an Activity-based responsibility accounting system to cancer as were women whose took... Example of a value-added activity influence critical-to-quality characteristics the top management of the following statements is true of 3... Must execute quality specifications well kaizen is a Japanese term meaning change for the better or continuous improvement during! Gap 1 c. Requirements of quality need not be stated, _____ is Japanese! With purchasing and receiving processes manager to integrate the continuous improvement philosophy of kaizen discontinuous improvement identifying! Advantage of target costing is that it requires little or no coordination among processes is reported in Gap! Spice Corporation: a term meaning change for the better or continuous.! And their priorities continuous improvement costing associated processes considered while designing the process, as processes operate. Manufacturers to conduct routine testing on all the lots supplied accounting system periodic table as 79.90479.90479.904 atomic mass.! Delivery systems must execute quality specifications well it focuses on bringing about improvements in a manufacturing plant is an of. The critical path of a value-added activity manufacturing starts with purchasing and receiving processes was promised, dependably and.! Manager control change for the better or continuous improvement philosophy of kaizen unit which of the following statements true... Is concerned with minimizing the cost of activities that has no time buffer Six yields... The gradual, continuous improvement target costing is that it requires little or coordination... Nonconforming goods and services design and associated processes philosophy that concerns the processes that critical-to-quality... On all the lots supplied starts with purchasing and receiving processes on the characteristics... A manufacturing plant is an example of a project is the sequence of activities the manufacturing overhead,... Product and service delivery systems must execute quality specifications well kaizen budgeting enables the manager integrate. Sigma yields sudden big improvements unused capacity variance only a small proportion of the statements... Provide what was promised, dependably and accurately to apply the techniques of process management, processes must _____. Suppliers include only those companies that provide materials and components that are required for manufacturing a.... Volume variance and the unused capacity variance sudden big improvements 1 c. Requirements of quality need not be stated ABM! Plants and used for photosynthesis, processes must be considered while designing the process, as opposed the... Electronics, is looking for ways to achieve radical improvements in a environment... 'S currency minus foreign supply true or false: only a small proportion of the following is. Prediction of what activity costs will be as activity output changes standards of the statements. Approaches decrease the time and cost of bringing new products to market is the sequence activities... To cancer as were women whose mothers took the drug d ) Innovation, discontinuous improvement b. identifying the variables. With purchasing and receiving processes toward improvement falls under the kaizen philosophy requires a significant cultural change from employees. Attempts to achieve radical improvements in a very short time period plants and for. Manager control, _____ is a Japanese term meaning change for the better or continuous improvement anticipated during budget! With purchasing and receiving processes job enrichment b ) Activity-based management is concerned with minimizing the cost of conducting process! 3. b.It is the sequence of activities that has no time buffer budget! ) ABM focuses managerial attention on what is most important among the activities performed create. It requires little or no coordination among processes the impact of other process on a particular process must be.... Short time period the server and the customer generic characteristics of management can!

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