Total Quality Management _____

question 78

Multiple Choice

Total quality management _____.

• A)is the application of quality principles in the quality control department
• B)involves keeping the responsibility for quality control with the management
• C)has significant implications for organization goals, structure, and management control systems
• D)is used by all U.S.companies

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Definitions:

Closing Inventory

The value of the goods remaining unsold at the end of an accounting period, which becomes the opening inventory for the next period.

Finished Goods

Goods that have gone through the entire manufacturing cycle and are prepared for customer acquisition.

Standard Costs

Preset costs for materials, labor, and overhead used to measure the performance of manufacturing activities against planned costs.

Variable Costing

A costing method where only variable costs are charged to product costs, with fixed costs treated as period costs.