Acctmis 3600 Exam 3 Questions –
100% Correct, Expert Verified
Answers with A+ Grade Assurance
The production cycle is a recurring set of ___ and ____associated with the
manufacture of products ANSW ✔✔ Business activities and related
information processing operations
What are the manufacturing control objectives? (3) ANSW ✔✔ Support
decision making with impactful cost information
Safeguard assets
Support optimizing of manufacturing processes
What business activities are performed in the production cycle? (4) ANSW ✔✔
Product design
Planning and scheduling
Production operations
Cost accounting
What production cycle activity are accountants primarily involved in? ANSW
✔✔ Cost accounting
True or False: Accountants are primarily involved in cost accounting but must
understand the other processes well enough to design an AIS that supports
these activities ANSW ✔✔ True
What key documents are produced/used in product design? (3) ANSW ✔✔
Bill of materials
Operations List
, Labor standards
Specifies the part number, description and quantity of each component to be
used in a finished product ANSW ✔✔ Bill of materials
Lists the sequence of steps required to produce each product, including the
equipment needed and the amount of time required ANSW ✔✔ Operations
List
Specifies the required labor for each step in the process ANSW ✔✔ Labor
standards
At what stage of the production cycle are 65-80% of costs determined? ANSW
✔✔ Product design
At this stage, AIS need to measure and collect needed data to minimize costs
ANSW ✔✔ Product design
What is the objective of the planning and scheduling activity of the production
cycle? ANSW ✔✔ Develop a production plan that meets existing orders,
anticipates shorter-term demand while still minimizing inventories of both raw
materials and finished goods, and minimizes costs (maximizes efficient use of
resources)
What are the 2 production planning methods? ANSW ✔✔ Manufacturing
Resource Planning (MRP)
Lean Manufacturing
100% Correct, Expert Verified
Answers with A+ Grade Assurance
The production cycle is a recurring set of ___ and ____associated with the
manufacture of products ANSW ✔✔ Business activities and related
information processing operations
What are the manufacturing control objectives? (3) ANSW ✔✔ Support
decision making with impactful cost information
Safeguard assets
Support optimizing of manufacturing processes
What business activities are performed in the production cycle? (4) ANSW ✔✔
Product design
Planning and scheduling
Production operations
Cost accounting
What production cycle activity are accountants primarily involved in? ANSW
✔✔ Cost accounting
True or False: Accountants are primarily involved in cost accounting but must
understand the other processes well enough to design an AIS that supports
these activities ANSW ✔✔ True
What key documents are produced/used in product design? (3) ANSW ✔✔
Bill of materials
Operations List
, Labor standards
Specifies the part number, description and quantity of each component to be
used in a finished product ANSW ✔✔ Bill of materials
Lists the sequence of steps required to produce each product, including the
equipment needed and the amount of time required ANSW ✔✔ Operations
List
Specifies the required labor for each step in the process ANSW ✔✔ Labor
standards
At what stage of the production cycle are 65-80% of costs determined? ANSW
✔✔ Product design
At this stage, AIS need to measure and collect needed data to minimize costs
ANSW ✔✔ Product design
What is the objective of the planning and scheduling activity of the production
cycle? ANSW ✔✔ Develop a production plan that meets existing orders,
anticipates shorter-term demand while still minimizing inventories of both raw
materials and finished goods, and minimizes costs (maximizes efficient use of
resources)
What are the 2 production planning methods? ANSW ✔✔ Manufacturing
Resource Planning (MRP)
Lean Manufacturing
