Complete the following relating to the balanced scorecard manufacturing measurements:А.time is the only difference between delivery cycle time andthroughput time in the manufacturing cycle.B) In your own work, Explain what information does the MCE provide to the productionmanager?

Manufacturing cycle time (throughput time) is a metric for evaluating business processes. It…

Answered: Complete the following relating to the…

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Which of the following statements is not an Objective of the cost management system Select one: a. Identify and evaluate new activities that can improve performance. b. Determine efficiency and effectiveness of major activities. c. Publish the annual financial statements. d. Measure the cost of resources consumed.
Discuss the difference between cost accumulation, tracing and allocation. Since all manufacturing cost are eventually included in the unit cost of a product, what difference does it make? Discuss why the distinction matter in the calculation of CVP or other metrics.
The ____ costing system is the most useful system for management in planning ang controlling business activities such as in the use of CVP analysis and inventories management. A. Absorption B. variable C. job order D. standard
Which of the following correctly describes the term cost driver? a.The primary factor which is correlated with the amount of cost incurred to produce a product b.The total material, labor, and overhead cost of a completed job c.The inflation rate which causes costs to rise d.The initial purchase price of direct materials
What is the activity rate based on machine hours? Activity rate based on the number of machine setups? Activity rate based on the number of purchase orders?
Which of the following is a benefit of activity-based cost management system? a.It makes it easy to identify the overall activities that bear an influence on cost. b.It is inexpensive. c.It enhances strategic planning. d.It ensures allocation of all costs on the basis of machine hours.
Describe three different ways in which managers determine cost behavior, which do you think is most accurate? How can you visualize cost behavior and why is this important?
What is the primary goal of the cost-of-production report? What is the purpose of these reports in terms of regulating and enhancing operations?
Which one of the following is considered a basic similarity between job order cost and process cost systems? • Tracking costs through a series of processes of departments. • Unit cost computations. O The flow of costs through the accounts. O The point at which costs are totaled.
A 'product' cost is a cost that is classified by: a. behavior b. function c. controllability d. relevance
Which of the following statements is true? Select one: a. The most complex of the cost estimation methods is the high-low method. b. In approximating the cost function, the account analysis classifies costs based upon an industrial engineer's evaluation of production methods, and material, labor, and overhead requirements. c. The high-low method is used to derive an estimated line of cost behavior by graphically connecting the two cost amounts identified with the highest and lowest volume levels. d. Engineering approach approximates cost function by classifying each account as either variable or fixed based on the analyst's knowledge of how the account behaves. e. The high-low method of deriving an estimated cost line uses all the data points
In a two-stage activity-based costing model, stage one involves Select one: O O A. assigning activity costs to cost objects. B. assigning indirect resource costs to activity pools. C. measuring the various indirect resource costs and determining resource drivers. D. assigning direct costs to cost objects.

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Complete the following relating to the balanced scorecard manufacturing measurements: А. time is the only difference between delivery cycle time and throughput time in the manufacturing cycle. B) In your own work, Explain what information does the MCE provide to the production manager?