Question

quick question

1 The new production environment refers to an environment in which company managers are concerned with: Select one or more: a. Improving customer service and product quality b. Reducing costs I c. Increasing government regulation d. a and b above. e. All of the above. 2 In Texas Instruments' cost of quality program, the managers' task was to maximize the sum of prevention, appraisal, internal failure, and external failure costs. Select one: True O False 3 Just-in-time production and purchasing methods: Select one or more: I a. Require the use of Pareto charts. b. Eliminate the need for inventories in theory because production does not take place until it is known the item will be sold. c. Must be used in conjunction with activity-based costing d. All of the above. Ie. Require government regulation. 4 What are the differences between the cost of goods sold sections in a manufacturer's and a merchandiser's income statements? Select one or more: a. None of the above. b. A merchandiser uses Merchandise Inventory and Direct Labor, whereas a manufacturer uses Finished Goods Inventory and Cost of Goods Manufactured. c. A merchandiser uses Merchandise Inventory and Cost of Goods Available for Sale, whereas a manufacturer uses Finished Goods Inventory and Cost of Goods Available for Sale. d. A merchandiser uses Work in Process Inventory and Cost of Goods Sold, whereas a manufacturer uses Finished Goods Inventory and Cost of Goods Sold.

Answer 1

1) (D ) A and B Above

2) False

3) (D) All of above

4) (D) A Merchandiser uses marchandise inventory and cost of goods available for sale, whereas a manufacturer uses finished goods inventory and cost of goods avialable for sale.