Management Accounting: One of the major implications of JIT manufacturing on management accounting is:

Please show work: 16. One of the major implications of JIT manufacturing on management accounting is: a. the clerical process of management accounting is simplified as there are fewer inventories to monitor and report b. the management accounting system always costs more with a JIT system c. the clerical process of managemen ...continues

Financial Management

Please show work: 17. Hanlon Company has recorded the following data regarding its inventories. To manufacture product MPC1, it takes 4 hours to move raw materials to the work-in-process area. Transforming the raw materials into finished goods takes three production steps of 3 hours each. The finished goods are then tempo ...continues

Financiial Management

18. If there is unused capacity available in the short run, then the minimum acceptable price for a special order should cover: (a) both variable and fixed costs (b) both variable and fixed costs plus a regular markup (c) variable costs (d) fixed costs

Dropping a major product line that is produced in large batches

19. The decision to drop a major product line that is produced in large batches will likely affect which of the following types of costs? (a) unit-related costs only (b) unit-related and batch-related costs (c) batch-related costs only (d) unit-related, batch-related, and product-sustaining costs

Financial Management

20. All of the following statements are correct EXCEPT: (a) The short-run price needs to cover only the costs that vary in the short run. (b) The short-run price needs to cover both variable and fixed costs. (c) The long-run price needs to cover both fixed and variable costs. (d) Incremental costs are relevant costs in ...continues

Constrained by scarce resources

21. When production is limited by a scarce resource, a firm maximizes its profits if it selects products in the rank order of their: (a) unit contribution margins (b) contribution margins per unit of the scarce resource (c) total sales (d) gross margins per unit of the scarce resource

Financial Management

22. Which of the following statements regarding Kaizen costing is false (why)? a. Investigation of cost variances occur when Kaizen targets are not attained. b. Workers have the best knowledge to reduce costs. c. Managers and engineers have the best knowledge to reduce costs. d. The Japanese term, Kaizen, means making impr ...continues

RD&E Cycle

23. A dollar spent on activities that occur during the RD&E cycle: a. can save up to $80-$100 on manufacturing and post-manufacturing activities b. can save up to $8-$10 on manufacturing and post-manufacturing activities c. can save up to $20-$30 on manufacturing and post-manufacturing activities d. can save up to $30-$40 ...continues

Financial Management

24. Which of the following are concerns about target costing? a. Conflicts may arise within organizations. b. Employees may experience burnout due to the pressures of meeting target costs. c. Development time may increase. d. All of the above.

Financial Management

25. Which of the following is NOT an important factor in developing a benchmarking partner? a. the partner’s debt to equity ratio b. the size of the partner c. the number of partners d. the degree of trust among partners