Question 18 (1 point) The major problem to avoid when selecting the amount of fixed asset "capacity: is Having excess production capacity in relations to future sales volume, thus "wasting" precious financial resources tied up in long term capital assets None of the 2 listed answers are correct Not having enough production capacity to meet future demand, thus losing out on potential sales revenues Both of the 2 listed answers are correct. Question 19 (1 point) Which of the following would most likely "cause" increased labour costs for assembling a toaster oven increased cost of materials used to make the toaster oven increased overhead costs incurred to make the toaster oven increased number of individual parts used to manufacture the toaster oven increased selling price of the toaster oven Question 20 (1 point) The successful implementation of a Quality Program in an organization will result in documentation of quality standards required by both "internal" and "external customers significant savings in "Non-Conformance Costs" offset somewhat by increased "Conformance Costs all of the listed answers are correct increased inspection costs Question 21 (3 points) A company makes fudge in a batch process, i.e. they prepare, mix and cook the ingredients in small batches, followed by a thorough cleanup of the equipment after each batch. For the month of July the company budgeted to make 20,000 lbs. in 200 batches, setup and cleanup costs regarding the batches were budgeted at $10,000 in total. Actual results for July were as follows: they made 24.000 lbs. in 300 batches; setup and cleanup costs regarding the batches cost $18,000 in total. From the above information, it can be said Compared to budget, the company used too many batches for the actual volume produced, and each batch cost too much money for setup/cleanup Compared to budget, the company improved its batch efficiency, but unfortunately each batch cost too much money for setup/cleanup Compared to budget, the company used too many batches for the actual volume produced, and they saved on setup/cleanup costs Compared to budget, the company increased batch size, but unfortunately each batch cost too much money for setup/cleanup Question 22 (1 point) True or False: Advancements in technology give companies the ability to more accurately track costs, and thus turn costs that were originally classified as "direct" into "indirect". True False