26. Costs incurred as a result of poor quality found through appraisal prior to delivery to customers are A. external failure costs. B. appraisal costs. C. internal failure costs. D. prevention costs. 27. A product that meets or exceeds customer expectation is: A. a quality product. B. the norm in today's marketplace. C. a result of planning for quality. D. all of the given choices 28. If quality costs are viewed as conformance versus non-conformance, quality expert Philip Crosby would argue that there is no such thing as a quality problem, but only a problem of: A. design. B. all of the given choices C. labor. D. materials 29. Warranty costs would be classified as A. external failure costs. B. prevention costs. C. retention costs. D. appraisal costs. 30. Costs incurred to keep quality defects from occurring are A. internal failure costs. B. external failure costs. C. appraisal costs. D. prevention costs. 31. Which of the following represents value-added time in the manufacturing cycle? A. Inspection time. B. Queue time. C. Process time. D. Move time. 32. Cost conformance includes A. appraisal costs and external failure costs. B. prevention costs and internal failure costs. C. prevention costs and appraisal costs. D. internal failure costs and external failure costs. 33. Finished goods inspection costs would be classified as A. prevention costs. B. internal failure costs. C. retention costs. D. appraisal costs. 34. Throughput time consists of: A. process time, inspection time, move time, and queue time. B. process time. C. process time, inspection time, and move time. D. inspection time and move time. 35. Test acquisition costs would be classified as A. appraisal costs. B. retention costs. C. prevention costs. D. Internal failure costs. 36. Manufacturing Cycle Efficiency (MCE) is computed as: A. Value Added Time/ Throughput Time. B. Value Added Time/Delivery Cycle Time. C. Throughput Time/Delivery Cycle Time. D. Process Time/Delivery Cycle Time. 37. The critical success factors for a business today are all: A. production-oriented., B. customer-oriented. C. sales-oriented. D. planning-oriented. 38. Reinspection costs would be classified as A. appraisal costs. B. prevention costs. C. retention costs. D. Internal failure costs. 39. Costs of meetings would be classified as A. appraisal costs. B. retention costs. C.prevention costs. D. internal failure costs. 40. Rework costs would be classified as A. prevention costs. B. retention costs. C. internal failure costs. D. appraisal costs. 41. Because of the four stages of a product's sales life cycle has a different emphasis, the cost management system will be expected to provide data that is: A. lesser in amount in the early stages. B. different at each stage. C. lesser in amount in the later stages.. D. common to all stages 42. The key concept in TOC is: A. reengineering. B. benchmarking. C. Throughout D. the bottleneck. 43. In each of the phases of a product's sales life cycle, management's focus will be: A. undifferentiated B. on the next phase as well as the current one. C. different D. Parallel 44. Target costing forces the firm to become more competitive, like: A. life-cycle costing B. activity-based costing. C. Reengineering. D. benchmarking. 45. The sequence of activities within the firm which begins with research and development, followed by design, and manufacturing, marketing / distribution, and customer service is the: A. sales life cycle B. target life cycle C. cost life cycle D. market life cycle 46. Which of the following is not one of the steps in the life cycle of a product? A. research and development B. purchasing and receiving C. manufacturing, inspecting, packaging and warehousing D. marketing, promotion and distribution 47. Which of the following determines the desired cost for a product based upon a given competitive price? A. Benchmarking. B. life-cycle costing. C. reengineering D. target costing. 48. The Theory of Constraints (TOC) focuses on improving cycle time, the rate at which raw materials are converted to finished product. This strategic management technique is primarily concerned with the critical success factor of: A. Quality. B. Speed. C. Energy. D. Originality. 49. Generally, firms will price a product more competitively at which stage of the product's sales life cycle? A. Decline B. Maturity C. Growth D. Product Introduction 50. In comparison to the Cost Life Cycle of a product, the Sales Life Cycle of a product is: A. much longer B. much shorter C. exactly parallel, except that it is expressed in sales terms. D. different because it represents a sequence of phases relating to sales, not production