A Potential Obstacle to Conversion to a Lean System Is(I)lack

question 10

Multiple Choice

A potential obstacle to conversion to a lean system is(I) lack of management commitment(II) lack of worker cooperation(III) supplier resistance(IV) insufficient space to store the increased inventories

• A)only I
• B)only I and II
• C)only II and III
• D)only I, II, and III
• E)only II, III, and IV

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Definitions:

Performance Report

A detailed report comparing budgeted data to actual data.

Budgeted Costs

Estimated financial figures for revenues and expenses set during the budgeting process for a future period.

Labour Efficiency Variance

A measure used in cost accounting to determine the difference between the actual hours worked and the standard hours planned for a task, multiplied by the standard labor rate.

Variable Overhead Efficiency Variance

A metric that measures the difference between the actual variable overhead cost incurred and the standard cost expected for the actual production level.