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Exam 27: Cost Management for Just-In-Time Environments

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Question 21

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Maximum effectiveness and efficiency are reached when the just-in-time (JIT) philosophy is used only by manufacturers.

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Question 22

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In the just-in-time (JIT) philosophy, unexpected downtime is the result of unreliable processes.

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Question 23

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Employee involvement does not include performing any indirect manufacturing functions.

Schedule of Activity Costs From the above schedule, calculate the (a) prevention and (b) appraisal costs.

Which of the following is a value-added activity?

Which of the following statements is correct?

Setups are a significant time-consuming activity in traditional production environments.

In a push manufacturing system, raw materials are released to production based on actual customer orders.

A non-financial measure is operating information that has not been translated into dollars.

Sifton Electronics Corporation manufactures and assembles electronic motor drives for video cameras. The company assembles the motor drives for several accounts. The process consists of a just-in-time cell for each customer. The following information relates only to one customer's just-in-time cell for the coming year. Projected labor and overhead, $7,370,000; materials costs, $28 per unit. Planned production included 4,000 hours to produce 27,500 motor drives. Actual production for August was 1,600 units, and motor drives shipped amounted to 1,380 units. From the foregoing information, determine the production costs transferred to Cost of Goods Sold during August.

In a pull manufacturing system, raw materials are released to production based on forecasted demand.

Make-to-order companies typically produce in small batch sizes.

Which of the following is considered non-value-added lead time?

In a just-in-time (JIT) system, there are fewer transactions to record than there are in a traditional system.

Employee involvement in a product-oriented factory emphasizes employee teams, rather than individual employees.

A make-to-order company matches its production schedules to actual customer orders.

Set up time is disregarded as an improvement priority under the ____ manufacturing concept.

The budgeted cell conversion cost rate is very similar to the predetermined factory rate because both include only factory overhead costs.

Which of the following is not a prevention cost?

In a just-in-time (JIT) environment, operations only respond to customer orders.