True or False

10. Move tickets authorize the storckecper to release matenals to work centers. 11. Tynically the only allocated cost in the value stream is a charge per square foot for the value stream production facility. 12. Computer Integrated Manufacturing focuses on teducing the complexity of the physical manufacturing layout of the shop floor. 13. The only objective of the Just In-Time philosophy is to teduce inventory levels. 14. Accountine in a wotld-class manufacturing environment emphasizes standard cost and variance analysis. 15. ABC assign cost to cost objects based on their use of activities 16. The complexities of ABC have caused many firms to abandon this method in favor of a simpler accounting model called value stream accounting. 17. A company's value stream includes all steps in a process, both essential and non-essential, for which the customer is willing to pay. 18. Lean manufacturing evolved from the Toyota Production System (TPS), which is based on the just-in time (JT) production model. 19. The two subsystems of a traditional conversion cycle are the production system and the delivery system. 1. The philosophy of customer satisfaction permeates the world-class firm. 2. Reports generated by the cost accounting system include performance reports and budget reports 3. The cost accounting system authorizes the release of raw materials into production 4. Batch processing creates a homogeneous product through a continuous series of standard procedures. 5. The bill of materials specifies the types and quantities of the raw materials and subassemblies used in producing a single unit of finished product. 6. A purchase requisition authorizes the storekeeper to release materials to individuals or work centers in the production process. 7. Cement and petrochemicals are produced by the batch manufacturing method. 8. The objective of the Economic Order Quantity model is to reduce total inventory costs by minimixing carrying costs and ordering costs. 9. The work-in-process file is the subsidiary ledget for the work-in-process control account. 20. Manufacturing resources planning (MRP ID) has evolved into enterprise tesource planning (ERP). 21. Pull processing imvolves polling products from the consumer end (demand), rather than mushing them from the production end (supply) 22. The imventory control function updates and maintains both raw materials and finished goods inventory subsidiary ledgers. 23. Excess materials requisition is a control that signals that a greater than standard quantity of materials is being ordered from the vendor: 24. Cost accounting initiates a WIP account upon receiving the first move ticket of a batch: 25 A company's value stream map depicts only the value-added activities needed to complete a process or product. 10. Move tickets authorize the storckecper to release matenals to work centers. 11. Tynically the only allocated cost in the value stream is a charge per square foot for the value stream production facility. 12. Computer Integrated Manufacturing focuses on teducing the complexity of the physical manufacturing layout of the shop floor. 13. The only objective of the Just In-Time philosophy is to teduce inventory levels. 14. Accountine in a wotld-class manufacturing environment emphasizes standard cost and variance analysis. 15. ABC assign cost to cost objects based on their use of activities 16. The complexities of ABC have caused many firms to abandon this method in favor of a simpler accounting model called value stream accounting. 17. A company's value stream includes all steps in a process, both essential and non-essential, for which the customer is willing to pay. 18. Lean manufacturing evolved from the Toyota Production System (TPS), which is based on the just-in time (JT) production model. 19. The two subsystems of a traditional conversion cycle are the production system and the delivery system. 1. The philosophy of customer satisfaction permeates the world-class firm. 2. Reports generated by the cost accounting system include performance reports and budget reports 3. The cost accounting system authorizes the release of raw materials into production 4. Batch processing creates a homogeneous product through a continuous series of standard procedures. 5. The bill of materials specifies the types and quantities of the raw materials and subassemblies used in producing a single unit of finished product. 6. A purchase requisition authorizes the storekeeper to release materials to individuals or work centers in the production process. 7. Cement and petrochemicals are produced by the batch manufacturing method. 8. The objective of the Economic Order Quantity model is to reduce total inventory costs by minimixing carrying costs and ordering costs. 9. The work-in-process file is the subsidiary ledget for the work-in-process control account. 20. Manufacturing resources planning (MRP ID) has evolved into enterprise tesource planning (ERP). 21. Pull processing imvolves polling products from the consumer end (demand), rather than mushing them from the production end (supply) 22. The imventory control function updates and maintains both raw materials and finished goods inventory subsidiary ledgers. 23. Excess materials requisition is a control that signals that a greater than standard quantity of materials is being ordered from the vendor: 24. Cost accounting initiates a WIP account upon receiving the first move ticket of a batch: 25 A company's value stream map depicts only the value-added activities needed to complete a process or product