Describe How Cost Accounting Is Sometimes Antithetical to Toc
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Business Law Expert Answers & Study Resources : Page 25
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57. What are the three financial measures of the firm's ability to make money? 58. What are the three measurements that give guidance to the firm's operations? 59. You have run a capacity resource profile on your shop. Products have been routed sequentially through resources A, B, C & D. The capacity.
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42. According to the theory of constraints which of the following is an operational measurement that can be used to measure the firm's ability to make money? A. Net profit B. Throughput C. Return on investment D. Sales E. Direct labor hours 43. According to the theory of constraints which of the following is an operational.
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67. For an activity in a Single Time Estimate CPM analysis the Early Finish time is 20 and the Late Finish time is 20. Which of the following statements is true? A. The activity's late start must happen before its early start B. The activity is on the critical path C. The slack.
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77. You have just computed a Z=2.55 in a CPM analysis of a critical path for a project. Based on this Z value what is the probability of completing this project on time? A. 0.76543 B. 0.67543 C. 0.99061 D. 0.99461 E. You cannot tell based on the information given 78. You are working on a.
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16. In the late 1950's scholars began to deal specifically with operations management rather than with industrial engineering and operations research. 17. Widespread use of computers in business led to development of methods like material requirements planning (MRP) to rationalize manufacturing in the 1970s. 18. In 1913, Henry Ford developed an assembly.
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Multiple Choice Questions 47. A project can be subdivided into which of the following? A. Job orders B. Subjobs C. Work Package D. Sub-paths E. Events and decisions 48. A project starts out as which of the following? A. A Statement of Work (SOW) B. Critical Path Method (CPM) C. A Series of Milestones (SOM) D. A Gantt chart E. A latest-start-time.
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11. Finding the optimal way to use aircraft and their operating crews to provide transportation services to customers to be moved between different locations is one kind of problem that can be solved by linear programming. 12. Finding the optimal location of a new plant by evaluating shipping costs between alternative.
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Short Answer Questions 36. Formulate and solve the following linear program. A firm wants to determine how many units of each of two products (products D and E) they should produce to make the most money. The profit in the manufacture of a unit of product D is $100 and the.
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39. What is a "shadow price"? 40. What is the shadow price of a non-binding constraint? Why is this so? .
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Essay Questions 38. Two of the five essential conditions for linear programming to pertain to a real world problem are linearity and homogeneity. Discuss why these are difficult to achieve in the real world and how they might limit your confidence in the solution? .
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61. Why might a partial productivity measure be preferred to the more comprehensive total factor measure of productivity? .
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38. An activity-based map is which of the following? A. A network guide to route airlines B. A listing of activities that make up a project C. A network that shows how a company's strategy is delivered to customers D. A facility layout schematic noting what is done where E. A timeline displaying major planned.
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21. Core capabilities are the skills that differentiate the service or manufacturing firm from its competitors. 22. Once an operations and supply strategy is adopted and articulated, the primary emphasis becomes perfecting the system of activities that make up the strategy through detailed refinements over a long period of time. 23. Central.
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1. zmeet the technical, cost and time constraints of the project. 2. The second step in managing a project is writing the Statement of Work (SOW). 3. An event is a subdivision of a project. 4. Complex projects are often subdivided into a series of tasks that are typically configured to be not.
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26. Highly efficient firms usually fare poorly when demand drops during a recession since their low-cost structure requires a very large demand to maintain efficiency. 27. Wall Street analysts are not particularly concerned with how efficient companies are from an operations and supply management view. 28. Productivity is a relative measure. 29. In.
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52. Which of the following is a graphic project report used in project management? A. Project proposal B. Approved project plan C. Humphrey chart D. Equipment and supplies chart E. Cost and performance tracking schedule 53. An advantage of a pure project where self-contained teams work full time on a project is which of the following? A..
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47. Which of the following is an approach to dealing with a bottleneck? A. Keep a buffer inventory in front of it to insure that it always has something to work on B. Use Johnson's sequencing rules on bottleneck operations C. Don't worry about the bottleneck; it will take care of itself D. Move.
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6. Each term in a linear program's objective function should be expressed in the same units. 7. Excel Solver solutions include a sensitivity report. This report gives information on making changes in objective function coefficients. 8. The objective function in a linear programming model can be nonlinear. 9. In the conventional formulation of.
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1. Strategy describes how a firm intends to create and sustain shareholder value. 2. An effective operations and supply strategy must be integrated with the organization's corporate strategy. 3. One of the competitive dimensions that form the competitive position of a company when planning their strategies is cost. 4. Operations and supply management.
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Short Answer Questions 51. Name the five kinds of time that make up production cycle time according to Dr. Eli Goldratt's theory of constraints. 52. What is a word indicating a resource whose capacity is less than the demand placed on it? .
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62. In discussing batch size on an assembly line the text makes the point that "one" and "infinity" are equally correct Answers. How can this be? 63. Where should an in-process quality inspection be placed? Why there? .
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Essay Questions 59. Describe a specific example of the trade-offs between any two of the seven operational competitive dimensions? .
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30. Apply linear programming to this problem. A firm wants to determine how many units of each of two products (products X and Y) they should produce in order to make the most money. The profit from making a unit of product X is $190 and the profit from making.
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16. An operations and supply strategy is a long term commitment that must resist change. 17. Operations and supply strategy must be linked horizontally to the customer and vertically to other parts of the enterprise. 18. An operations and supply strategy involves decisions that relate to the design of a process and.
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1. Linear programming is a single-objective model, meaning that it has a single objective function to be maximized or minimized. 2. Linear programming is useless when resources are plentiful relative to demand. 3. A common application of linear programming is in materials handling. 4. The decision variables in a linear programming model must.
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11. A visit to a hair salon produces a tangible result—a new appearance for the customer. Hence, the output of hair salons is a manufactured good, not a service. 12. Core goods are those tangible products that include a significant service component. 13. Core services are those products that integrate tangible goods.
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60. Explain the role that "order qualifiers" and "order winners" play as the interface between marketing and operations? .
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11. An order winner is a set of screening criteria that permits a firm's products to be considered as possible candidates for purchase. 12. An order qualifier is a set of screening criteria that permits a firm's products to be considered as possible candidates for purchase. 13. Activity-system maps show how a.
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Multiple Choice Questions 35. A reason for studying operations and supply management (OSM) is which of the following? A. OSM is essential for understanding organizational behavior B. Most business graduates do OSM work regardless of their job title C. The concepts and tools of OSM are used in managing other business functions D. OSM is.
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25. There are other related mathematical programming techniques that can be used instead of linear programming if the problem has a unique characteristic. If the problem is best solved in stages or time frames we should use which of the following methodologies? A. Goal programming B. Temporal programming C. Integer programming D. Genetic programming E..
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16. Finding the optimal routing for a product that must be processed sequentially through several machine centers, with each machine in a center having its own cost and output characteristics cannot be solved using linear programming. 17. If products and resources can not be subdivided into fractions, the condition of divisibility.
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72. A company wants to use CPM analysis to manage their project. One of the activities that make up the project has an uncertain duration. Three estimates have been given to determine this activity's duration. The estimates are optimistically 1 hour, most likely 5 hours and pessimistic 6 hours. Using.
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6. Maximizing both effectiveness and efficiency at the same time always creates the most value for the organization. 7. A transformation process uses resources to convert inputs into some desired output. 8. Strategic operations and supply management issues tend to be primarily directed at planning how to efficiently schedule material and labor. 9..
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31. ISO 9000 certification standards play a minor role in setting quality standards for global manufacturers but a major role in setting quality standards in the European Union. 32. All European companies require that their vendors meet ISO 9000 standards as a condition for obtaining contracts. 33. Deciding how much inventory to.
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Multiple Choice Questions 20. Which of the following is an essential condition in a situation for linear programming to be useful? A. Nonlinear constraints B. Bottlenecks in the objective function C. Homogeneity D. Uncertainty E. Competing objectives 21. Which of the following is not an essential condition in a situation for linear programming to be useful? A. An.
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57. If each activity time is known with certainty in a CPM analysis, which of the following methodologies can be used to analyze the project? A. Single Time Estimate B. Three Activity Time Estimates C. Expected Activity Time D. Probability Analysis E. None of the above 58. You have just been assigned to oversee a series.
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64. You have run a capacity resource profile on your shop. Products have been routed sequentially through resources A, B, C & D. The capacity resource profile tells you that recourse A is scheduled at 95 percent of capacity, recourse B at 80% of capacity, recourse C at 130% of.
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43. Which of the following is a partial measure of productivity? A. Output/Materials B. Output/(Labor + Capital + Energy) C. Output/All resources used D. Output/Inputs E. All of the above 44. Which of the following is a multifactor measure of productivity? A. Output/(Materials + Labor) B. Output/(Labor + Capital + Energy) C. Output/All resources used D. Output/Inputs E. All of the.
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41. One of the assumptions made using CPM is that project activity sequence relationships can be specified and networked. 42. Project management software available today combines CPM and other scheduling aids, like Gantt charting, to aid in tracking progress of project completion. 43. One of the criticisms of CPM analysis is that.
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Multiple Choice Questions 33. Which of the following is not one of the major strategic operations and supply competitive dimensions that form a company's competitive position? A. Cost or price B. Delivery speed C. Delivery reliability D. Management acumen E. Coping with changes in demand 34. A major competitive dimension that forms a company's strategic operational competitive.
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82. Below are the data for a Time-Cost CPM Scheduling analysis. The time is in days and the costs include both direct and indirect costs. If you crash this project to reduce the total time by four days, what is the total time of the project and total cost? A. Total time.
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21. JIT is designed to achieve high-volume production using a significant inventory of component parts that minimizes the probability of running out of supplies. 22. The term "value" refers to the relationship between quality and the price paid by the consumer. 23. A current issue facing operations and supply managers is coordinating.
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48. The total output from a production system in one day is 500 units and the total labor necessary to produce the 500 units is 350 hours. Using the appropriate productivity measure, which of the following numbers represents the resulting productivity ratio? A. 1.000 B. 1.428 C. 0.700 D. 0.411 E. None of the above 49..
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6. Central to the concept of operations and supply strategy is the notion of operations focus and trade-offs. 7. The process when a company seeks to match the benefits of a successful position while maintaining its existing position by adding new features, services and technologies into its current portfolio is called.
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26. One of the current issues of operations and supply management is increased co-production of goods and services. 27. Making resource utilization decisions must capture the direct costs of staffing and need not consider the implicit costs of lost customers. 28. Managing global supplier, production and distribution networks is easy with the.
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53. What is the rate at which money is generated by the system through sales called? 54. According to Dr. Goldratt, what is the goal of the firm? 55. How many rules of make up Goldratt's Rules of Production Scheduling? 56. In Goldratt's approach to project management, what is the longest set of.
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Multiple Choice Questions 37. Which of the following is one of Dr. Eli Goldratt's rules of production scheduling for optimized production technology? A. Utilization and activation of a resource are not the same B. Do not allow bottlenecks to govern the flow of the line C. An hour lost at a bottleneck saves an.
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Short Answer Questions 55. Strategy typically breaks down into what three major components? 56. What is a criterion or product characteristic that differentiates a product from the products of competitors in a way meaningful to the market called? 57. A diagram showing how a company's strategy is delivered through a set of tailored.
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62. A simple project listing of five activities, their predecessors and their respective time estimates are presented below: Using the Single Time Estimate CPM procedure, which activities have slack in this project? A. A B. B C. C D. D E. C and E 63. A company must perform a maintenance project consisting of seven activities. The.
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Describe How Cost Accounting Is Sometimes Antithetical to Toc
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