The term given to the act of a company comparing its processes to similar processes in a successful company is called
a. process mapping.
b. TQM.
c. benchmarking.
d. return on quality.
C
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Operating expenses would not include
A) cost of goods sold. B) salaries expenses. C) insurance expenses. D) depreciation expenses.
If targeted sales are 12,000 units, the sales price per unit is $70, fixed costs are $130,000, and variable costs are $40 per unit, then planned profit must be $230,000
Indicate whether the statement is true or false
Which of the following statements is incorrect in comparing activity-based management (ABM) and lean operations?
A) Both identify value-adding and nonvalue-adding activities B) ABM uses a simpler accounting system C) Both are activity-based systems D) Lean manufacturing reorganizes production activities into workcells
Harold's Five & Dime Harold's Five & Dime is a merchandising company that uses the periodic inventory system. Selected account balances are listed below. Sales $175,000 Gross purchases 90,000 Beginning inventory 23,000 Ending inventory 17,000 Purchase returns and allowances 3,000 Purchase discounts 7,000 Transportation-in 4,000 Sales discounts 8,000 Sales returns and allowances 5,000 Calculate
Harold's net purchases. A) $ 84,000 B) $ 90,000 C) $103,000 D) $117,000