The language of JIT includes many terms. True North Thinking Inc. #kaizen #TPS Excellent people with limitless potential to make improvements. Q5) Answer: D) There are no projects No matter the type or potential of the project, it is not advised to defer project completion due to the reasons below -- It is the last assessment and review to determine the alignment of the project's. View Answer, 10. View Answer, 3. Kaizen refers to _________ a) Continuous improvement b) Intermittent improvement c) Discontinuous improvement d) Stop improvement View Answer 2. What is the key factor in the Court's decision to hear a case? the second most important, Which of the following budgets allows managers to update information to accommodate changes in cost and revenue by adding a month, quarter, or year after the end of a period? b. flowchart c. Analyzing the processes prior to implementation to improve quality A lean organization understands customer value and focuses its key processes to continuously increase it. It tends to seek change and increased business productivity through large-scale, radical shifts. Reducing the number of test procedures, c. Internal failure - Discarding food that has become too old to sell, d. Tracking the source of customer complaints at a hotel check-in desk, Operations Management: Sustainability and Supply Chain Management, Information Technology Project Management: Providing Measurable Organizational Value, Service Management: Operations, Strategy, and Information Technology, John David Jackson, Patricia Meglich, Robert Mathis, Sean Valentine. Sanfoundry Global Education & Learning Series Total Quality Management. a. confirming the key variables and quantifying their effects on the critical-to-quality characteristics. 2,500 units View Homework Help - ACCT Ch6 DM.docx from ACCT 320 at Metropolitan State University Of Denver. a. control chart A system containing a large number of cost pools will not tend to exhibit substantial cost accuracy over a system containing seven to ten cost pools. d. treatment errors between the server and the customer. Employee empowerment will allow kaizen to occur more easily. An aggregate of several related action plans that have been designed to accomplish a mission within a specified time period is known as (A) Project b. VANCOUVER, Aug. 20, 2019 - Medallion Resources Ltd. (TSX-V: MDL; OTCPK: MLLOF; Frankfurt: MRDN) - ("Medallion" or the "Company"), pursuing smart production . Which of the following is a prevention cost? b. Which of the following statements is true regarding kaizen? Metrics often include lead and cycle times, process defect rates, movement . $27,500 Which of the following statements is true? a. c. Failure to bring the necessary materials for the encounter a. d. Increasing variation in cash flow, Josephine's T-Shirts faced a lot of complaints from customers when its recent batch of long-sleeved shirts was dispatched. c. He never defined or described quality precisely. Procedural d. It lacks written quality standards. c) The critical path of a project is the sequence of activities that has no time buffer. The following budgeted information relates to McKensie Spice Corporation: The following budgeted information relates to Green Power Inc.: Which of the following statements is TRUE of budgeting benefits? d. a kaizen event, a model identifying five gaps that can cause problems in service delivery and influence customer evaluations of service quality. $3,500. Quality means conformance to elegance. a) Innovation, constant improvement (B) It is related to the raising of criteria for selection. Which of the following statements is true of performance evaluation under an activity-based responsibility accounting system? A. Flowcharts enable management to study and analyze processes prior to implementation. Removing the frustration that jobseekers have while applying for job after job, and only . $32,000 Which of the following statements is true about kaizen? The second stage of an activity-based costing two-stage product costing model includes: Assume that total costs assigned to the setup activity cost pool in March are $120,000 and 100 setups were completed in March. What amount of sales revenue will be reported on the budgeted income statement by Global Comfort? c. 67,757 errors per million opportunities. Beginning finished goods inventory View Answer, 7. Currently attainable standards are based on an efficiently operating work force. $2,512 b. identifying customers and their priorities. b) To make processes effective . Which of the following statements is true regarding kaizen? Since introducing this term as a systematic approach to business improvement, companies that implement KAIZEN have continually yielded superior results. 200 units c. Process mapping Both statements are false b. . The financial budget A kaizen blitz is an improvement initiative that is gradual and continuous and is performed on a part-time basis. According to Philip B. Crosby's Absolutes of Quality Management, the only performance standard is _____, which represents the philosophy of preventing faults in goods and services rather than finding them after the fact and fixing them. Selling price per unit An awareness of the impact of todays actions on tomorrows costs is a concept that underlies which of the following notions? 17. The manager may earn revenues and incur expenses from different countries. External failure costs can be defined as costs: Senior managers who implement budgets develop a framework to judge performance. a. women out of 1000 in this population who have tissue abnormalities. What is another name for a place-value system? Conducting a cost-benefit analysis to determine the impact of stopping a process a. identifying new markets and product opportunities. Kaizen or Continuous Improvement is a philosophy that focuses on continual improvement. 2,000 units Which of the following is TRUE of Kaizen budgeting? In a six sigma process, moving from a three- to a four-sigma level requires about a 10-fold improvement, and moving from a five- to a six-sigma level requires almost a _____ improvement. It focuses on respect for people and the belief that even small improvements can have a big impact. a. John Adams was the United States' second president. operating budget The Kaizen philosophy requires a significant cultural change from all employees in the organization including the top management. D)It focuses on small, gradual, and frequent improvements. c. analyze d. Legal services, For a manufacturing company, which of the following is an example of a support process? a. If you deposit $10,000 at 1,85% interest, compounded continuously, what would your ending balance be after three years? d. Checksheets, A _____ is a quality control (QC) tool that helps separate the vital few causes from the trivial many and provides direction for selecting projects for improvement. a. A b. Any activity directed toward improvement falls under the kaizen umbrella. He proposed a major cultural change in the organization. The term is translated as "positive change." It is the idea that continuous improvement is both necessary and possible. c. long-term effect In the context of SERVQUAL, _____ is caring, individual attention a firm provides its customers. b. poka-yoke program c. A product or a service possesses quality if it helps somebody and enjoys a good and sustainable market. d. Its standards apply to all types of businesses, including electronics and chemicals. b. identifying customers and their priorities. d. It involves a huge financial investment. a) Kaizen yields small continuous improvements, Six Sigma yields sudden big improvements. In the process of Kaizen, improvements are accomplished gradually in small increments. d. It attempts to achieve radical improvements in a very short time period. a. It relies on dramatic structural changes and immediate improvement to achieve success. a. customer errors in preparation. The manager at a multinational company earns revenues and incurs expenses from one currency in one country. Controllability. a. _____ is the first stage of personal change. This set of Total Quality Management Multiple Choice Questions & Answers (MCQs) focuses on Continuous Process Improvement Kaizen. a.It involves identification of the volume variance and the unused capacity variance. a. c. quality specifications documented in operating and training manuals and plans and their implementation. Increasing non-value-added activities A systemwide integrated approach that focuses management's attention on activities with the objectives of improving customer value and the profit achieved by providing this value is called: One activity of a manufacturing company is scheduling. The shareholder expectations a. poka-yoke It is ineffective in providing immediate feedback to the employees regarding the error in the process. View Answer, 5. 2) Total costs will be lower for the regular size operation. Managers can promote coordination and communication among subunits. c) To make processes controllable __________ are costs incurred as a result of unsatisfactory quality that is found before the delivery of a good or service to the customer. c. decrease the time required for completing a process. a. A . $12 a. prevention costs _____ are used by a financial-based responsibility accounting system to evaluate performance. Posted: February 11, 2023. Which of the following statements best defines sensitivity analysis? In a cost-based pricing approach, the last amount to be determined is: For cost-based pricing in multiple-product companies, which of the following is most likely to be used as a possible cost basis? d. A product or a service possesses quality if it consistently exceeds customer expectations. A d. Kaizen techniques are more easily applied at the floor level. consistently meeting or exceeding customer expectations (external focus) and service-delivery system performance criteria (internal focus) during all service encounters. Target ending finished goods inventory It institutes a top-down management style, in which the leadership comes from the executives, and all other levels of employees must follow their commands. $2,488 b. b. View Answer. b. b. appraisal costs d) Increasing waste Appraisal costs In this case, the costs incurred by Josephine's T-Shirts are an example of _____. 3) Total costs will be lower for the kanban/ lean production operation. As with many strategies involved in Lean and Six Sigma, the governing idea behind a Kaizen Event is focus and speed. Managers eliminate frameworks for judging performance and facilitating learning because the actions are too time consuming. b. The operating budget It does not involve a continuous cycle of planning, acting, doing, and checking. Senior managers spend 10-20% of time developing budgets. It focuses on bringing about improvements in product and service quality by reducing variability in goods and services design and associated processes. Which of the following is TRUE of Kaizen budgeting? d. They are accountable for process performance and have the authority to control and improve their process. They are also responsible for taking corrective measures when they identify variations in the products. b. support a. business improvement approach that seeks to find and eliminate causes of defects and errors in manufacturing and service processes by focusing on outputs that are critical to customers, resulting in a clear financial return for the organization. a) many fungi can tolerate aw levels of 07-0.8 b) many microorganisms grow well at an aw of 0.98 e sear water has an aw of 0.98 e-xerephiles thrive in dry conditions DNA typically becomes disordered below an a of o.90 Which of the following descriptions about ribosome structure . 2,200 units What is the major difference between a negotiated purchase and a competitive bid purchase? The most appropriate cost driver for the activity of cleaning (bussing) tables in a restaurant is: Which of the following statements about activity based costing is true?Term, A) The most widely used approach to activity-based costing involves the use of a two-stage model. Suppliers include only those companies that provide materials and components that are required for manufacturing a product. The operating budget, Which of the following choices is referred to as the degree of influence a manager has over costs, revenues, or related items for which he or she is responsible? c. identifying customers and their priorities. Which one of the following statements is TRUE? Reduction in cycle time of a process leads to improvement in quality of products as it reduces the potential for mistakes and errors. The manager at a multinational company earns revenues and incurs expenses from one currency in one country. b. d) Slow-growth economy, slow-growth economy d. International Organization for Standardization (ISO) 9000:2000, a. c. Designing potential defects and errors out of the process b. Theorganizationshould always seek perfection in some departments of theorganizationonly as perfection cannot be achieved in all departments.C . c. employee behavior Which of the following statements is TRUE of budgeting in a multinational company? b. poka-yoke b. A) Activity-based management is concerned with maximizing the value of activities. Six Sigma In a two-stage activity-based costing model, stage one involves: A) Assigning indirect resource costs to activity pools. Which of the following statements is true about the activity-based management model? c. kaizen and kanban. b. the GAP model d. prevent the errors in a process from occurring again in the future. A process is a sequence of linked activities that is intended to achieve some result, such as producing a good or service for a customer within or outside the organization. What is a sunk cost? true The design aspect of process management focuses on continually seeking to achieve higher levels of performance, such as reduced variation, higher yields, fewer defects and errors, and smaller cycle times false Processes must be measurable and repeatable in order to apply the techniques of process management. Determining how much direct labor each cost object consumes. Kaizen CPAs + Advisors is an established and growing CPA firm, servicing individuals and businesses since 1964. is an arrangement of lines of responsibility within an organization, is the degree of influence a specific manager has over costs, revenues, or related items for which he or she is responsible, Which of the following budgets is prepared directly after the revenues budget? c. They require lesser attention from the employees compared to value-creation processes. Which of the following statements about environmental scanning is true? a) True 3,200 units b) The Project priority matrix is best used in the analyze phase of DMAIC. d. Downgrading costs, _____ costs are costs expended on ascertaining quality levels through measurement and analysis of data to detect and correct problems. Appraisal costs d. quality circle. Further, assume that during March machines were setup 20 times to make product X5. c. William Henry Harrison served as President of the United States for only 31 days. A) ABM is concerned with how to effectively and efficiently manage activities and processes to provide value to the final consumer. a. Which of the following statements about benchmarking is true? b. Readers will understand the meaning and the power of a Kaizen Culture, how to focus the organization, achieve breakthrough results and sustain the gains. 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