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The following statements have all been claimed to relate to the adoption of a TQM approach. Which of the following is incorrect?Anonymous voting
- Employees should focus on the requirements of their customers, only internal
- Standard costing is unlikely to be used as a method of control.
- TQM companies often dispense with the quality control department.
Which of the following costs are likely to be reduced on the introduction of a JIT system in a company? Tick ALL that apply:Anonymous voting
- Purchasing costs
- Inventory holding costs
- Ordering costs
- Information costs
Which of the following is not a term normally used in value analysis?Anonymous voting
- Resale value
- Use value
- Esteem value
- Cost value
Which of the following is not suitable for a JIT production system?Anonymous voting
- Batch production
- Jobbing production
- Process production
- Service production
When building up the cost of a product or service using activity-based costing l, which of the following would be used as level of classification?
1.facility
2.product 3.batch 4.unit 5.value added 6.non-valu addedAnonymous voting
- 1 and 2
- 2, 3 and 4
- 1, 2, 3 and 4
- All of them
Which of the following statements regarding Total Quality Management(TQM) in not true?Anonymous voting
- Customer needs are placed above those of the organisation's needs
- TQM will often involve the use of Just in Time (JIT) inventory control
- TQM believes that costs of prevention are less than the costs of correction
- TQM is a principle that should only be applied to an a manfacturing organisation
The following detaila relate to Product Z:
>Unit
Selling price>45 Purchased components >10 Labour>10 Variable overhead>8.5 Fixed overhead >4.5 Time on bottleneck resource>10 minutes Product return per minute is:Anonymous voting
- 0.8
- 1.25
- 2.1
- 3.1