Cost Management Chapter 13 Test Questions with Verified Solutions (Graded A+)
2 views 0 purchase
Course
Cost Management Chapter 13
Institution
Cost Management Chapter 13
Cost Management Chapter 13 Test Questions with Verified Solutions (Graded A+)
1. Many firms choose to achieve target cost through redesign of the product or service because they recognize that design decisions: - Answers B. Account for much of the total product life cycle costs.
Many firms are fi...
Cost Management Chapter 13 Test Questions with Verified Solutions (Graded A+)
1. Many firms choose to achieve target cost through redesign of the product or service because they
recognize that design decisions: - Answers B. Account for much of the total product life cycle costs.
Many firms are finding it is difficult to compete successfully on cost leadership or differentiation alone,
and they must, in fact, compete on both - Answers B. Price and functionality
. _________________________ is an important first step in value engineering because it identifies
critical consumer preferences that will define the product's desired functionality. - Answers A. Consumer
analysis
Which of the following are computer-based databases that include comprehensive information about
the firm's cost drivers? - Answers A. Cost tables
Which of the following is a method of reducing cost by identifying parts in different products that are
common and interchangeable? - Answers D. Group Technology
Throughput margin is defined as sales less: - Answers B. Direct Labor costs
The theory of constraints (TOC) emphasizes which of the following? - Answers C. Removing bottlenecks
from the production process
The theory of constraints (TOC) approach is strategically important in dynamic markets because it leads
to: - Answers A. A more responsive and flexible manufacturing environment
Activity-based costing (ABC) and the theory of constraints (TOC) are viewed as methods that are: -
Answers B.Complementary
Reduced time-to-market, reduced expected service cost, and ease-of-manufacture are critical success
factors at which stage of the cost life cycle? - Answers C. Product design
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 : - Answers 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? - Answers B. Maturity and decline
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: - Answers 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: - Answers A. Sales life cycle
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller TutorJosh. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $7.99. You're not tied to anything after your purchase.
