Just in time jit Study guides, Class notes & Summaries

Question: Of the four roles of management, controlling covers which of the following actions: - ANSWERMonitoring actual to standard work performance Question: The performance of the product as viewed by the customer is ultimately the most important measure of __________. - ANSWERProduct quality Question: To reduce variation, minimize defects, and to shorten cycle time are considered __________ goals. - ANSWERQuality Question: Defect prevention is the __________ of the four types of qual...

Fundamentals of Cost Accounting, 6e (Lanen) Chapter 1 Cost Accounting: Information for Decision Making 1) The value chain comprises activities from research and development through the production process but does not include activities related to the distribution of products or services. Answer: FALSE Explanation: The value chain comprises activities from research and development (R&D) through the production process and including distribution and customer service. Difficulty: 1 Easy Topic:...

Capital-Labor Substitution: - ANSWER-An organization's ability to substitute labor for capital or vice versa as production increases. Experience Curve: - ANSWER-increases. Experience Curve: The reduction in per-unit costs that occur as an organization gains experience producing a product or service. Functional Strategies: - ANSWER-The strategies pursued by each functional area of a business unit, such as marketing, finance, or production. Human Capital: - ANSWER-The sum of the capabiliti...

WGU C201 Business Acumen Questions and Answers 100% Solved Which part of the organizing process aids in effective and efficient progress toward planned goals and often results in changes within the organization? Evaluating results What is the result of a company increasing the delegation of authority and the span of control? Increased number of direct reports per manager Which two key elements does an effective organization include? Human interaction, structure Why does a line organizational...

WGU C215 Operations Management -Objective Assessment Prep Guide & Terminologies Combo Study Guide 1. customer focus 2. continuous improvement 3. employee empowerment 4. use of quality tools 5. product design 6. process management 7. managing supplier quality Total Quality Management (TQM) Philosophy Basic function of Six Sigma. Measures the process potential and performance of processes. The higher the range of Cpk, the improved is the ability of the process to complete its necessities. Uses bo...

WGU C215 Study Guide – FINAL Latest Updated 2022 Already Passed Total Quality Management (TQM) Philosophy 1. customer focus 2. continuous improvement 3. employee empowerment 4. use of quality tools 5. product design 6. process management 7. managing supplier quality Process Capability Index (Cpk) Basic function of Six Sigma. Measures the process potential and performance of processes. The higher the range of Cpk, the improved is the ability of the process to complete its necessities. Six Sig...

Certified Paraoptometric (CPO) Exam 2024 Verified for learners;(Information from the American Optometric Association's CPO Study Guide for the Certified Paraoptometric) Accounts Payable - Answer ️️ -Outstanding business obligations that are owed to others. Accounts Receivable - Answer ️️ -Outstanding obligations owed to the business by others. Cash Flow Statement - Answer ️️ -A picture of all cash inflows and outflows within the business. Gross Profit - Answer ️️ -The pe...

WGU C201 Study Set Latest 2022 Already Graded A Which part of the organizing process aids in effective and efficient progress toward planned goals and often results in changes within the organization? Evaluating results What is the result of a company increasing the delegation of authority and the span of control? Increased decision-making authority given to employees Which two key elements does an effective organization include? Human interaction Structure Why does a line organizational str...

Accounts Payable CORRECT ANSWER Outstanding business obligations that are owed to others. Accounts Receivable CORRECT ANSWER Outstanding obligations owed to the business by others. Cash Flow Statement CORRECT ANSWER A picture of all cash inflows and outflows within the business. Gross Profit CORRECT ANSWER The percentage of business income before expenses. Just in Time (JIT) CORRECT ANSWER A strategy to improve a business return on investment. Net Income/Profit CORRECT ANSWER Reve...

Total Quality Management (TQM) Philosophy - Correct answer-1. customer focus 2. continuous improvement 3. employee empowerment 4. use of quality tools 5. product design 6. process management 7. managing supplier quality Process Capability Index (Cpk) - Correct answer-Basic function of Six Sigma. Measures the process potential and performance of processes. The higher the range of Cpk, the improved is the ability of the process to complete its necessities. Six Sigma - Correct answer-A di...

Test Bank for Cost Management 5e 5th Edition by Don R. Hansen, Maryanne M. Mowen, Dan L. Heitger. ISBN-13: 1090 ISBN-10: 1 Full Chapters test bank included Chapter 1: Introduction to Cost Management Financial Accounting versus Cost Management: A Systems Framework Factors Affecting the Use of Cost Management The Role of the Management Accountant Accounting and Ethical Conduct Certification Chapter 2: Basic Cost Management Concepts A Systems Framework The Growing Importance of D...