The four performance measures are: Financial, Customer, Internal Business Process, and Learning & Growth. Which process is the most important? - Answer Learning and Growth
Learning and Growth is the most important performance measure because - Answer The development of employees improves b...
Managerial Accounting Exam 4 Revision
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Answers.
The four performance measures are: Financial, Customer, Internal Business Process, and Learning &
Growth. Which process is the most important? - Answer Learning and Growth
Learning and Growth is the most important performance measure because - Answer The development
of employees improves business processes, which results in added value provided to customers which
then results in higher financial performance
Costs that are incurred to prevent defects in products are called - Answer Quality Costs
Support activities whose purpose is to reduce defects is called - Answer Prevention Costs
The costs that are incurred during quality control process (inspection) to make sure that the product
conforms to company standards are called - Answer Appraisal Costs "Inspection Costs"
The cost of identifying a defect in a product before it is shipped is called - Answer Internal Failure Cost
The cost of identifying a defect in a certain product after it has been given to a customer is called -
Answer External Failure Cost
Scrap, spoilage, and rework are examples of - Answer Internal Failure Cost
Warranty Costs, Lost Sales, and Field Service are examples of - Answer External Failure Costs
Inspection & Testing of products and depreciation of testing equipment are examples of - Answer
Appraisal Costs
, Quality Training, Quality Circles, and Process Control Activities are examples of - Answer Prevention
Costs
Why is quality cost information important? - Answer It helps managers see the financial impact of
defective products, and it also helps managers determine if their quality costs are properly distributed.
What is the most important quality cost that is not included in reports? - Answer Lost Sales
The amount of time that work is actually done on the product is called - Answer Process Time
The amount of time spent on making sure the product has no defects is called - Answer Inspection
Time
The amount of time it takes to move the product from one workstation to another is called - Answer
Move Time
The amount of time it takes for the product to actually start being worked on is called - Answer Queue
Time (Wait Time)
Process Time + Inspection Time + Move Time + Queue Time = .... - Answer Throughput Time
(Manufacturing Cycle Time)
Wait Time + Throughput Time = ..... - Answer Delivery Cycle Time
The formula for Manufacturing Cycle Efficiency is - Answer Process Time/Throughput Time (Or also
called value-add time/throughput time)
The formula for Overall Equipment Effectiveness (OEE) is - Answer Utilization Rate * Efficiency Rate *
Quality Rate
The formula for Utilization Rate is - Answer Actual Runtime/Machine Time Available
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