14 Mar 1. Many firms choose to achieve target cost throug
1. Many firms choose to achieve target cost through redesign of the product or service because they recognize that design decisions:A. Are life cycle costs with high downstream costs and benefits. B. Account for much of the total product life cycle costs. C. Impact costs at the manufacturing stage of the life cycle. D. Are critical success factors in most firms.2. Many firms are finding it is difficult to compete successfully on cost leadership or differentiation alone, and they must, in fact, compete on both:A. Cost and design. B. Price and functionality. C. Cost and price. D. Design and functionality. E. Cost and functionality.3.is an important first step in value engineering because it identifies criticalconsumer preferences that will define the product’s desired functionality:A. Consumer analysis. B. Sales force analysis. C. Design analysis. D. R&D analysis. E. Market place analysis.4. Which of the following are computer-based databases that include comprehensive information about the firm’s cost drivers?A. Cost tables. B. Cost databases. C. Cost driver tables. D. Excel tables.5. Which of the following is a method of reducing cost by identifying parts in different products that are common and interchangeable?A. Target costing. B. Value chain analysis. C. Concurrent engineering. D. Group technology. E. Theory of constraints.6. Throughput margin is defined as sales less: A. Direct labor costs.B. Direct material costs. C. Direct labor and material costs. D. Processing costs. E. Manufacturing costs.7. The theory of constraints (TOC) emphasizes which of the following? A. Developing competitive constraints.B. Finding and eliminating design constraints. C. Removing bottlenecks from the production process. D. Improving overall production efficiency.8. The theory of constraints (TOC) approach is strategically important in dynamic markets because it leads to:A. A more responsive and flexible manufacturing environment. B. Better customer relationships. C. Quicker data accessibility. D. Faster setup times.9. Activity-based costing (ABC) and the theory of constraints (TOC) are viewed as methods that are: A. Substitutions for one another.B. Complementary.C. Auxiliary.D. Responsive.E. Parallel.10. Reduced time-to-market, reduced expected service cost, and ease-of-manufacture are critical success factors at which stage of the cost life cycle?A. R&D.B. Product planning and scheduling. C. Product design. D. Manufacturing.
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