Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
6th Edition
ISBN: 9780134486857
Author: Tracie L. Miller-Nobles, Brenda L. Mattison, Ella Mae Matsumura
Publisher: PEARSON
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Textbook Question
Chapter 19, Problem 7QC
Companies enjoy many benefits from using JIT. Which is not a benefit of adopting JIT?
- a. Ability to respond quickly to changes in customer demand
- b. Lower inventory carrying costs
- c. Ability to continue production despite disruptions in deliveries of raw materials
- d. More space available for production
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Companies enjoy many benefits from using JIT. Which is not a benefit of adopting JIT?
a. Ability to respond quickly to changes in customer demand
b. Lower inventory carrying costs
c. Ability to continue production despite disruptions in deliveries of raw materials
d. More space available for production
Which of the following is NOT a principle of lean manufacturing?a. Achieve high inventory turnover rate.b. All activities that do not add value and maximize the use ofscarce resources must be eliminated.c. Products are pushed from the production end to the customer.d. A lean manufacturing firm must have established andcooperative relationships with vendors.
Which of the following are features of lean manufacturing? Yes or NO
a. Maintaining excess inventory to ensure that products will always be available b. Cross-training of employees c. Giving employees additional authority and responsibility d. Product-oriented layout e. Increased setup time
Chapter 19 Solutions
Horngren's Financial & Managerial Accounting, The Managerial Chapters (6th Edition)
Ch. 19 - The Santos Shirt Company manufactures shirts in...Ch. 19 - Prob. 2TICh. 19 - Prob. 3TICh. 19 - Prob. 4TICh. 19 - Prob. 5TICh. 19 - Prob. 6TICh. 19 - Prob. 7TICh. 19 - Prob. 8TICh. 19 - Prob. 9TICh. 19 - Prob. 10TI
Ch. 19 - Prob. 11TICh. 19 - Prob. 12TICh. 19 - Which statement is false? a. Using a single...Ch. 19 - Compute It uses activity-based costing. Two of...Ch. 19 - Compute It uses activity-based costing. Two of...Ch. 19 - Compute It uses activity-based costing. Two of...Ch. 19 - Compute It can use ABC information for what...Ch. 19 - Prob. 6QCCh. 19 - Companies enjoy many benefits from using JIT....Ch. 19 - Which account is not used in JIT costing? a....Ch. 19 - The cost of lost future sales after a customer...Ch. 19 - Spending on testing a product before shipment to...Ch. 19 - What is the formula to compute the predetermined...Ch. 19 - How is the predetermined overhead allocation rate...Ch. 19 - Describe how a single plantwide overhead...Ch. 19 - Why is using a single plantwide overhead...Ch. 19 - Why is the use of departmental overhead allocation...Ch. 19 - What is activity-based management? How is it...Ch. 19 - How many cost pools are in an activity-based...Ch. 19 - What are the four steps to developing an...Ch. 19 - Why is ABC usually considered more accurate than...Ch. 19 - List two ways managers can use ABM to make...Ch. 19 - Define value engineering. How is it used to...Ch. 19 - Explain the difference between target price and...Ch. 19 - How can ABM be used by service companies?Ch. 19 - What is a just-in-time management system?Ch. 19 - Explain how the work cell manufacturing layout...Ch. 19 - What are the inventory accounts used in JIT...Ch. 19 - How is the Conversion Costs account used in JIT...Ch. 19 - Prob. 18RQCh. 19 - Which accounts are adjusted for the underallocated...Ch. 19 - Prob. 20RQCh. 19 - Prob. 21RQCh. 19 - Prevention is much cheaper than external failure....Ch. 19 - What are quality improvement programs?Ch. 19 - Prob. 24RQCh. 19 - Prob. 1SECh. 19 - The Oakman (Company (see Short Exercise S19-1) has...Ch. 19 - Activity-based costing requires four steps. List...Ch. 19 - Prob. 4SECh. 19 - Darby Corp. is considering the use of...Ch. 19 - The following information is provided for Orbit...Ch. 19 - Jaunkas Corp. manufactures mid-fi and hi-fi stereo...Ch. 19 - Spectrum Corp. makes two products: C and D. The...Ch. 19 - Refer to Short Exercise S19-8. Spectrum Corp....Ch. 19 - Haworth Company is a management consulting firm....Ch. 19 - Refer to Short Exercise S19-10. Haworth desires a...Ch. 19 - Prob. 12SECh. 19 - Prime Products uses a JIT management system to...Ch. 19 - Stegall, Inc. manufactures motor scooters. For...Ch. 19 - Koehler makes handheld calculators in two models:...Ch. 19 - Koehler (see Exercise E19-15) makes handheld...Ch. 19 - Koehler (see Exercise E19-15 and Exercise E19-16)...Ch. 19 - Franklin, Inc. uses activity-based costing to...Ch. 19 - Turbo Champs Corp. uses activity-based costing to...Ch. 19 - Eason Company manufactures wheel rims. The...Ch. 19 - Refer to Exercise E19-20. For 2019, Easons...Ch. 19 - Refer to Exercises E19-20 and E19-21. Controller...Ch. 19 - Treat Dog Collars uses activity-based costing....Ch. 19 - Western, Inc. is a technology consulting firm...Ch. 19 - Refer to Exercise E19-24. The president of Western...Ch. 19 - Prob. 26ECh. 19 - Refer to Exercise E19-26. Western desires a 20%...Ch. 19 - Lally, Inc. produces universal remote controls....Ch. 19 - Prob. 29ECh. 19 - Darrel Co. makes electronic components. Chris...Ch. 19 - Prob. 31ECh. 19 - Prob. 32ECh. 19 - Willitte Pharmaceuticals manufactures an...Ch. 19 - The Alright Manufacturing Company in Rochester,...Ch. 19 - Oscar, Inc. manufactures bookcases and uses an...Ch. 19 - Blanchette Plant Service completed a special...Ch. 19 - Low Range produces fleece jackets. The company...Ch. 19 - Stella, Inc. is using a costs-of-quality approach...Ch. 19 - Harcourt Pharmaceuticals manufactures an...Ch. 19 - The Alexander Manufacturing Company in Rochester,...Ch. 19 - Martin, Inc. manufactures bookcases and uses an...Ch. 19 - Rennie Plant Service completed a special...Ch. 19 - High Mountain produces fleece jackets. The company...Ch. 19 - Roxi, Inc. is using a costs-of-quality approach to...Ch. 19 - Download an Excel template for this problem online...Ch. 19 - This problem continues the Piedmont Computer...Ch. 19 - Prob. 1TIATCCh. 19 - Harris Systems specializes in servers for...Ch. 19 - Harris Systems has decided to adopt ABC. To remain...Ch. 19 - Prob. 1EICh. 19 - Anu Ghai was a new production analyst at RHI,...
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- Explain how lowering inventory produces better products, lower prices, and better responsiveness to customer needs.arrow_forwardCompanies enjoy many benefits of using JIT. Which is not a benefit of adopting JIT? Ability to respond quickly to changes in customer demand Lower inventory carrying costs Ability to continue production despite disruptions in deliveries of raw materials More space available for productionarrow_forwardKnowing how costs behave to change in the level of activity is useful to management for all the following reasons except for: predicting customer demand. predicting profits as sales and production volumes change. estimating costs. changing an existing product production.arrow_forward
- Which of the following is NOT a principle of lean manufacturing? a. Products are pushed from the production end to the customer. b. All activities that do not add value and maximize the use of scarce resources must be eliminated. c. Achieve high inventory turnover rate. d. A lean manufacturing firm must have established and cooperative relationships with vendors. e. All of the above are lean manufacturing principles.arrow_forwardWhich of the following decreases the non-value added time of producing a product and in turn increases the quality of the product?a. Redesigning products b. Increasing movements of subassemblies c. Adding processes in production d. Increasing time spent on delivery of productsarrow_forwardWhich one of the following is a disadvantage of Mass Production system? a. Higher level of inventory at all levels and hence higher inventory cost. b. Larger space requirements. c. Breakdown of one machine will stop an entire production line. d. Higher cost due to frequent set up changes.arrow_forward
- In which of the following situations is a company most likely to benefit from implementing ABC? When the company operates in an environment where the risk of cost distortion is high. When the company already has the necessary accounting and technological expertise in place. When the company has very few competitors. When the company produces and sells a single product.arrow_forwardExplain why a new product costing system may be needed when line managers suggest that an apparently profitable product be dropped.arrow_forwardWhich of the following is not a revenue driver factor which affects sales volume for a manufacturing firm? Multiple Choice Price changes. Customer service. Delivery dates. Productivity. Discounts.arrow_forward
- In a Lean Culture How can a reduction in delays in one part of a process happen without negatively impacting another part?What are some reasons for erring on the side of having too much inventory rather than too little?arrow_forwardUnder EOQ approaches, order costs can be minimised by placing large, infrequent orders for inventory. However, under JIT, inventory- related costs are reduced by ordering frequently and in small quantities. Can you explain why both of these statements are correct? Explain why some organisations onsider it important to measure customer retention and customer satisfaction.arrow_forward1) Which of the following is a reason that has accelerated the demand for refinements to the costing system? A) The declining demand for customized products has led managers to decrease the variety of products and services their companies offer. B) The use of product and process technology has led to an increase in indirect costs and a decrease in direct costs. C) The increased of automated processes has led to the increase in direct manufacturing cost leading to a decrease in breakeven point. D) The increasing competition in product markets has led to an increase in contribution margin resulting in a decrease of breakeven point.arrow_forward
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