Data for a Factory -
Open-Book Accounting Is a Management Accounting Technique with the

question 23

Multiple Choice

Data for a factory
$\begin{array}{ll}\text { Total factory cost } & £ 10,000 \\\text { Total time au ailable on key resource (hours) } & 2,500 \\\text { Contribution per unit product A } & £ 34.00 \\\text { Contribution per unit product B } & £ 30.00 \\\text { Contribution per unit product C } & £ 22.00 \\\text { Contribution per unit product D } & £ 20.00 \\\text { Hours required product A } & 12.0 \\\text { Hours required product B } & 6.0 \\\text { Hours required product C } & 6.0 \\\text { Hours required product D } & 8.0\end{array}$

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Open-book accounting is a management accounting technique with the following important supply chain implications

• A)Progressive cost cuts are required from suppliers
• B)Enables JIT supply and purchasing based on knowledge of suppliers
• C)Sharing of cost and output data enables benefits of partnership sourcing
• D)Synchronisation of production plans

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Definitions:

Truth in Lending Act

A federal law designed to protect consumers in credit transactions by requiring clear disclosure of key terms of the lending arrangement and all costs.

Bait-and-Switch

A deceptive marketing strategy where a merchant lures customers with the promise of a product or service but then switches to selling a different, often inferior, item.

Annual Fee

A yearly charge by financial institutions for account maintenance or credit card usage.

Quebec

A province in eastern Canada, known for its French-speaking majority and distinct cultural, legal, and historical identity.