A Management Concept That Encourages All Managers and Employees to Be

question 81

Multiple Choice

A management concept that encourages all managers and employees to be in tune with the wants and needs of customers, and which leads to flexible product designs and production processes, is called:

• A) Continuous improvement.
• B) Customer orientation.
• C) Just-in-time.
• D) Theory of constraints.
• E) Total quality management.

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Definitions:

Ending Work

Refers to the work in process (WIP) at the end of an accounting period, used in calculating the cost of goods manufactured.

Equivalent Units

A concept used in process costing, converting partially finished goods into a number of completed units for accounting purposes.

Physical Units

A measure used in various contexts, referring to countable, tangible objects or units of measurement in physical systems.

Transferred Out

Costs or materials moved from one department, process, or location to another in the course of manufacturing or accounting.