Listed below are eight technical accounting terms introduced or emphasized in this chapter: Activity-based management Va

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Listed Below Are Eight Technical Accounting Terms Introduced Or Emphasized In This Chapter Activity Based Management Va 1 (160.76 KiB) Viewed 35 times

Listed below are eight technical accounting terms introduced or emphasized in this chapter: Activity-based management Value-added activity Target costing Just-in-time manufacturing system Life-cycle costing Non-value-added activity Total quality management Value engineering Required: Each of the following statements may or may not) describe one of these technical terms. In the space provided below each statement, indicate the accounting term described, or answer "None" if the statement does not correctly describe any of the terms. (a) The process of using activity-based costs to help reduce and eliminate non-value-added activities. (b) Can be eliminated without affecting the desirability of the product from the perspective of the customer. (c) The length of time for a product to pass completely through a specific manufacturing process or the manufacturing process viewed as a whole. (d) If eliminated, the desirability of the product to consumers is decreased. (e) The consideration of all potential resources consumed by the product over its entire life. (f) A process driven by the customer, focused on design, and encompassing the entire life of the product. (g) A process that focuses on the earliest stages of product development, before well-established processes are created.