Test Bank for Cost Management 7th Edition by Blocher Complete downloadable file at:
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Course
Cost Management 7th Edition by Bloch
Institution
Cost Management 7th Edition By Bloch
1. Work study is concerned with
(a) improving present method and
finding standard time
(b) motivation of workers
(c) improving production
capability
(d) improving production planning
and control
(e) all of the above.
Ans: a
2. Basic tool in work study is
(a) graph paper
(b) process c...
Test Bank for Cost Management 7th Edition by Blocher
Complete downloadable file at:
https://testbanku.eu/Test-Bank-for-Cost-Management-7th-Edition-by-Blocher
Multiple Choice Questions
1. Which of the following does not represent a main focus of cost management
information?
A. Strategic
management.
B. Performance
measurement.
C. Planning and decision
making.
D. Preparation of financial
statements.
E. Internal audit and
control.
2. Strategic management can be defined as the development of a sustainable:
A. Chain of
command.
B. Competitive
position.
C. Cash
flow.
D. Business
entity.
E. Company
image.
3. Cost management has moved from a traditional role of product costing and
operational control to a broader strategic focus, which places an emphasis on:
A. Competitive
pricing.
B. Domestic
marketing.
C. Short-term
thinking.
D. Strategic
thinking.
E. Independent
judgment.
4. All of the following are examples of total quality management practices except:
A. Redesign of a product to reduce its parts by 50
percent.
B. Reduction in the movement required in a
manufacturing job.
C. Separating the sales and services
functions.
D. Raising raw material quality
standards.
E. Cross-training assembly line workers to cover sick leave
absences.
5. In a local factory, employees are rewarded for finding new and better ways of
changing the way they work. This company is motivating its employees to use what
management technique?
A. Benchmarkin
g.
B. Activity-Based
Costing.
C. Theory of
Constraints.
D. Continuous
Improvement.
E. Total Quality
Management.
6. A company's management accountant is trying to improve the way costs are
allocated within the company. Currently, several corporate expenses are grouped
together and labeled "overhead." If the accountant wanted to use activity-based
costing (ABC) to help solve the problem, what should she do?
A. She should try to trace the departments' costs to their cost objects, and then
charge each department based on those cost relationships.
B. She should research how the company's competitors are allocating their costs, and
then implement one of those strategies.
C. She should look for bottlenecks within the production process, and try to eliminate
them, thus reducing costs.
D. She should examine the firm's value chain and apply target costing before
adopting ABC.
7. The difference between wholesalers and retailers is:
A. Wholesalers are merchandisers that sell directly to customers whereas retailers
are merchandisers that sell to other merchandisers.
B. Wholesalers are merchandisers that sell to other merchandisers whereas retailers
are merchandisers that sell directly to consumers.
C. Wholesalers are merchandisers that sell directly to the government whereas
retailers are merchandisers that sell to other merchandisers.
D. Wholesalers are merchandisers that sell directly to customers whereas retailers
are merchandisers that sell directly to the government.
E. There is no difference between wholesalers and
retailers.
8. When managers produce value for the customer, their orientation consists of all the
following except:
A. Quality and
Service.
B. Timeliness of
delivery.
C. The ability to respond to the customer's desire for specific
features.
D. State of the art manufacturing
facilities.
9. A practical example of when the theory of constraints would not be an appropriate
management technique to use would be:
A. Long lines at checkout
stands.
B. Busy signals on Internet server
sites.
C. One critical production process provides 60 parts/min. output, compared with a
company-wide output of 90 parts/min.
D. Balanced, fast movement of the product through
the plant.
10. Target costing determines the desired cost for a product upon the basis of a given
competitive price such that the product will:
A. Earn at least a small
profit.
B. Earn a desired
profit.
C. Earn the maximum
profit.
D. Break
even.
E. Sell the highest
volume.
11. Which of the following is not a contemporary management technique used by the
management accountant to focus on process improvement?
A. Enterprise risk
management
B. Lean
accounting
C. Life cycle
costing
D. Enterprise
sustainability
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