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Exam 26: Lean Manufacturing and Activity Analysis

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Question 41

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The budgeted cell conversion cost rate includes which of the following?

A) only factory overhead
B) only direct labor and direct materials
C) direct labor,direct materials,and factory overhead
D) only direct labor and factory overhead

E) None of the above
F) B) and C)

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Question 42

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A college would like to increase enrollment by streamlining the enrollment process.Which of the following would not fall in line with the college goal?

A) Reduce the requirements necessary to enroll.
B) Relocate counselors,academic advisors,and financial aid specialists for a major to a central location.
C) Cross-train counselors,academic advisors,and financial aid specialists.
D) All of these choices would fall in line with the college goal.

E) B) and C)
F) A) and D)

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Question 43

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Lead time reduction can be a cost-saving goal for any processed item.

A nonfinancial measure is operating information that has not been translated into dollars.

Which of the following statements best describes the relationship among the costs of quality?

From the above schedule of activity costs,determine the external failure costs.

Financial accounting information is used more often for long-term operating decisions and nonfinancial information is used more often for day-to-day decisions.

The Bright Lamp Company has budgeted its conversion cost for the small lamp production as $85,000 for 1,300 production hours.Each unit produced by the cell requires 15 minutes of process time.During the month,3,800 units are manufactured in the cell.The estimated material cost is $18 per unit.Provide the following journal entries. ​ (a)Materials are purchased to produce 4,000 units. (b)Conversion costs are applied to 3,800 units of production.(Please round to nearest cent.) (c)3,650 units are placed into finished goods.

____ manufacturing deals with several suppliers in hopes of finding the best price.

From the above schedule of activity costs,determine the total activity cost.

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

Which of the following drives work-in-process inventory levels higher?

Which of the following is an example of value-added time?

Costs of controlling quality include prevention costs and internal failure costs.

From the above schedule,calculate the internal failure costs.

Axelgold Company produces parts for the auto industry.Part X2 is machined in Department #1,which has the following budgeted conversion costs: ​ All costs are driven by machine hours.Total possible hours for the year are 2,800.It takes .03 hours to machine one unit of Part X2.

Conan 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 lean cell for each customer.The following information relates only to one customer's lean cell.For the year,planned labor and overhead was $80,000,000; materials costs,$25 per unit.Planned production included 9,600 hours to produce 76,800 motor drives.Actual production for the month of August was 5,200 units,and motor drives shipped amounted to 5,040 units.From the foregoing information,determine the budgeted cell conversion cost per hour.

From the above schedule,calculate the external failure costs.

From the foregoing information,determine the production costs transferred to Finished Goods during August.

Which of the following is characteristic of the lean system?