Test Bank for Cost Management 7th Edition by Blocher
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Cost Management
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Cost Management
Test Bank for Cost Management 7th Edition by Blocher
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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. Pr...
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. Benchmarking.
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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