1. Which of the following is characteristic of a just-in-time (JIT) system? a.Fewer work in process account transactions b.Work in process and raw materials accounts combined c.Elimination of the direct labor account d.All of the above

2. Which of the following is considered non-value-added lead time? a.Packing b.Time moving from operation to operation c.Inspections d.all of the above

3. The High Altitude Ski Company manufactures skis in the finishing and assembly process. Skis are manufactured in 34-ski batch sizes. The finishing time is 20 minutes per ski. The assembly time is 16 minutes per ski. It takes 10 minutes to move a batch of skis from finishing to assembly. What is the value-added lead time per batch of skis? a. 36 minutes b. 1,224 minutes c. 46 minutes d. 1,234 minutes

4. The Catskill Company produces two products, Blinks and Dinks. They are manufactured in two departments, Fabrication and assembly. Data for the products and departments are listed below.

Product Number of units Labor hrs per unit Machine hours per unit Blinks 1,000 4 5 Dinks 2,000 2 8

All of the Machine hours take place in the Fabrication department, which has an estimated overhead of $84,000. All of the labor hours take place in the Assembly department, which has an estimated total overhead of $72,000.

The Catskill Company uses a single overhead rate to apply all overhead costs based on labor hours. What is the overhead cost per unit for Dinks?

a.$39 b.$19.50 c.$52 d.$36