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Knowledge Check 01 Which of the following statements about the categories of measures commonly included in a balance scorecard are correct? (You may select more than one answer. Single click the box with the question mark to produce a check mark for a correct answer and double click the box with the question mark to empty the box for a wrong answer. Any boxes left with a question mark will be automatically graded as incorrect.) Financial results must be improved in order to improve customer satisfaction improving business processes is necessary to improve customer satisfaction Internal business processes need to be improved before the company's employees are able to learn and grow. The company's employees need to continuously team in order to improve intemal business processes > Management of Mittel Company would like to reduce the amount of time between when a customer places an order and when the order is shipped. For the first quarter of operations during the current year the following data were reported: 46-14 Inspection time 0.5 days wait time (from order to start of production) 15.5 days Process time 2.9 dayo Move time 1.0 days Queue time 4.2 days Required: 1. Compute the throughput time. (Round your answer to 1 decimal place.) 2. Compute the manufacturing cycle officiency (MCE) for the quarter (Round your percentage answer to nearest Whole percent.) 3. What percentage of the throughput time was spent in non-value-added activities? (Round your percentage answer to nearest whole percent.) 4. Compute the delivery cycle time. (Round your intermediate calculations and final answer to 1 decimal place.) 5. If by using Lean Production all queue time during production is eliminated, what will be the new MCE? (Do not round Intermediate calculations. Round your percentage answer to 1 decimal place.) BOB CE 1. Throughout time 2. Manufacturing cycle efficiency 3. Non-value-added throughput time 4. Delivery cycle time 5. New manufacturing cycle efficiency 8.6 days 0% 21% 24.1 days 0.71%