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Which activities are generally value-added activities

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Reference no: EM131116661

1. When using information for internal purposes, management is more concerned with information that is

A timely, relevant and reliable.
B completely objective and verifiable.
C exclusively internally generated.
D exclusively externally focused.

2. Animus Ltd is a mining company. Which of the following is an example of ‘planning'?

A Awarding bonuses to AimusLtd's top performing executives
B Setting production targets for the company's new mines
C Developing correction actions to respond to
D lower-than-expected production levels in the existing mines

Pursuing legal actions against environmental activists who stole mining equipment

3. Which of the following activities is LEAST LIKELY be considered to be a non-value-added activity in a factory that produces jeans?

A Rescheduling production
B Moving materials
C Sewing in zippers
D Inspecting jeans

4. Which of the following activities would MOST LIKELY be classified as a non-value-added activity in a factory that manufactures microwave ovens?

A Inserting glass shelves into the frames
B Storing finished goods
C Installing timing devices
D Conducting tests in line with ISO certification requirements

5. Which of the following activities are generally value-added activities?

A i and ii
B iii and iv
C i and iv
D ii and iv

6. From the following list of costs for a kitchen manufacturer, determine the amount of value-added cost.

A $57 000
B $54 000
C $58 000
D $59 000

7. The monthly cost of renting manufacturing equipment is:

A. part of conversion cost and a period cost
B. part of prime cost and an inventoriable cost
C. part of prime cost and a period cost
D. part of conversion cost and an inventoriable cost

8. Idle time is:

A. frequently an avoidable cost
B. classified as overhead
C. caused by events such as equipment breakdown and new set-ups of production runs
D. All of the given answers

9. Forecasting a cost at a particular level of activity is called:

A cost estimation
B cost prediction
C costbehaviour
D cost functions

10. Costs that remain fixed over wide ranges of activity but jump to a different amount outside that range are called:

A. step-fixed costs
B. step-variable costs
C. semivariable costs
D. curvilinear costs.

Reference no: EM131116661

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