ACCT 434 Week 7 Quality Control Inventory Management - Copy
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<strong>ACCT</strong> <strong>434</strong> <strong>Week</strong> 7 <strong>Quality</strong> <strong>Control</strong><br />
<strong>Inventory</strong> <strong>Management</strong><br />
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<strong>434</strong>-devry/acct-<strong>434</strong>-week-7-qualitycontrol-inventory-management<br />
1.Question :<br />
1. Question : (TCO 11)The four cost categories in a cost of quality program are<br />
2. Question : (TCO 11) ________ is a formal means ofdistinguishing between random and<br />
nonrandom variation in an operatingprocess.<br />
3. Question : (TCO 11) Which of the following is NOT one of the steps in<br />
managingbottlenecks under the theory of constraints?<br />
4. Question : (TCO 11)Scrap is an example of<br />
5. Question : (TCO 11) Regal Products has a budget of $900,000 in 20X6 for prevention<br />
costs. If it decides to automate a portion of its prevention activities, it will save $60,000 in<br />
variable costs. The new method will require $18,000 in training costs and $120,000 in<br />
annual equipment costs. <strong>Management</strong> iswilling to adjust the budget for an amount up to<br />
the cost of the new equipment. The budgeted production level is 150,000 units. Appraisal<br />
costs for the year are budgeted at $600,000. The new prevention procedures will save<br />
appraisal costs of $30,000. Internal failure costs average $15 per failed unit of finished<br />
goods. The internal failure rate is expected to be 3%of all completed items. The proposed<br />
changes will cut the internal failure rate by one-third. Internal failure units are destroyed.<br />
External failure costs average $54 per failed unit. The company's average external<br />
failuresaverage 3% of units sold. The new proposal will reduce this rate by 50%. Assume<br />
all units produced are sold and there are no ending inventories. How much will appraisal<br />
costs change assuming the new prevention methods reduce material failures by 40% in the<br />
appraisal phase?
6. Question : (TCO 12) Which of the following is NOT a major feature of a just-intimeproduction<br />
system?<br />
7. Question : (TCO 12)<strong>Quality</strong> costs include<br />
8. Question : (TCO 12) Which of the following statements about theeconomic-orderquantity<br />
decision model is FALSE?<br />
9. Question : (TCO 12) When using a vendor-managed inventory system to enhance<br />
thefeatures of supply-chain management, a challenging issue is<br />
10. Question : (TCO 12) Liberty Celebrations, Inc., manufactures a line of flags. The<br />
annual demand for its flag display is estimated to be 100,000 units. The annual cost of<br />
carrying one unit in inventory is $1.60, and the cost to initiate a production run is $40.<br />
There are no flag displays on hand butLiberty had scheduled 60 equal production runs of<br />
the display sets for the coming year, the first of which is to be run immediately. Liberty<br />
Celebrations has 250 business days per year. Assume that sales occur uniformly<br />
throughout the year and that production is instantaneous.<br />
If Liberty Celebrations does not maintain a safety stock, the estimated total carrying cost<br />
for the flag displays for the coming year is.<br />
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