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Question;1. Many firms choose to achieve target cost;through redesign of the product or service because they recognize that design;decisions;A.;Are life cycle costs with high;downstream costs and benefits.;B.;Account for much of the;total product life cycle costs.;C.;Impact costs at the;manufacturing stage of the life cycle.;D.;Are critical success;factors in most firms.;2. Many;firms are finding it is difficult to compete successfully on cost leadership or;differentiation alone, and they must, in fact, compete on both;A.;Cost and design.;B.;Price and functionality.;C.;Cost and price.;D.;Design and;functionality.;E.;Cost and functionality.;3.;is an important first step in value engineering because it identifies critical;consumer preferences that will define the product's desired functionality.;A.;Consumer analysis;B.;Sales force analysis;C.;Design analysis;D.;R&D analysis;E.;Market place analysis;4. Which of the following are computer-based;databases that include comprehensive information about the firm's cost drivers?;A.;Cost tables.;B.;Cost databases.;C.;Cost driver tables.;D.;Excel tables.;5. Which of the following is a method of;reducing cost by identifying parts in different products that are common and;interchangeable?;A.;Target costing.;B.;Value chain analysis.;C.;Concurrent engineering.;D.;Group technology.;E.;Theory of constraints.;6. Throughput margin is defined as sales less;A.;Direct labor costs.;B.;Direct material costs.;C.;Direct labor and;material costs.;D.;Processing costs.;E.;Manufacturing costs.;7. The theory of constraints (TOC) emphasizes;which of the following?;A.;Developing competitive constraints.;B.;Finding and eliminating;design constraints.;C.;Removing bottlenecks;from the production process.;D.;Improving overall;production efficiency.;8. The theory of constraints (TOC) approach is;strategically important in dynamic markets because it leads to;A.;A more responsive and flexible;manufacturing environment.;B.;Better customer;relationships.;C.;Quicker data;accessibility.;D.;Faster setup times.;9. Activity-based costing (ABC) and the theory;of constraints (TOC) are viewed as methods that are;A.;Substitutions for one another.;B.;Complementary.;C.;Auxiliary.;D.;Responsive.;E.;Parallel.;10.;Reduced time-to-market;reduced expected service cost, and ease-of-manufacture are critical success;factors at which stage of the cost life cycle?;A.;R & D.;B.;Product planning and;scheduling.;C.;Product design.;D.;Manufacturing.;11. Concurrent;engineering relies on an integrated approach, in which the engineering/design;process takes place throughout the cost life cycle using cross-functional;teams. Strategically, this concurrent approach should give a firm all of the;following except;A.;Flexibility in refining its design.;B.;Ability to quickly;incorporate customer suggestions.;C.;Cost savings because of;time saved.;D.;More detailed analysis;of product functionality.;12.;Generally, firms will price a product more competitively at which stages of the;product's sales life cycle?;A.;Product introduction and Growth.;B.;Maturity and decline.;C.;Throughout the cycle.;D.;At the end of the life;cycle.;13. The;sequence of activities within the firm which begins with research and;development, followed by design, and manufacturing, marketing/distribution, and;customer service is the;A.;Sales life cycle.;B.;Target life cycle.;C.;Market life cycle.;D.;Critical life cycle.;E.;Cost life cycle.;14.;The sequence of phases;in the product or service's life in the market - from the introduction of the;product or service to the growth in sales and finally maturity, decline, and;withdrawal from the market is the;A.;Sales life cycle.;B.;Target life cycle.;C.;Market life cycle.;D.;Critical life cycle.;E.;Cost life cycle.;15. When;a firm determines the desired cost for a product or service, given a;competitive market price, in order to earn a desired profit, the firm is;exercising;A.;Target costing.;B.;Life cycle costing.;C.;Variable costing.;D.;Absorption costing.;E.;Competitive costing.;16.;Which one of the following is not one of the five steps in TOC analysis?;A.;Identify the binding constraint(s).;B.;Determine the most;efficient utilization for each binding constraint.;C.;Manage the flow through;the binding constraint.;D.;Identify those;responsible for bottlenecks and make adjustments as needed.;E.;Redesign the;manufacturing process for flexibility and fast throughput.;17. The;goals of coordinating manufacturing processes, thereby reducing the amount of;inventory and improving overall productivity, is particularly important in a;A.;Standard cost system.;B.;Just-in-time system.;C.;Normal costing system.;D.;Activity based costing;system.;E.;Total quality management;system.;18.;Which one of the following is true concerning TOC?;A.;A;B.;B;C.;C;D.;D;E.;E;19.;Henry Ford was an early pioneer in the use of;A.;the theory of constraints.;B.;target costing.;C.;life cycle costing.;D.;just-in-time;manufacturing.;20.;During;which stage of the sales life cycle of a product do sales continue to increase;but at a decreasing rate, and competition tends to;focus;on cost?;A.;Maturity.;B.;Decline.;C.;Inflation.;D.;Growth.;E.;Introduction.


Paper#45011 | Written in 18-Jul-2015

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