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Question # 00003260 Posted By: mac123 Updated on: 11/08/2013 12:23 PM Due on: 11/29/2013
Subject Accounting Topic Accounting Tutorials:
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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.


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.

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