Value-added costs equal standard quantity times??

3. Which of the following are true about total quality control?
a. Total quality control is an approach to differentiate and reduce overall quality costs.
b. Total quality control demands production of defect-free products.
c. Total quality control links suppliers closely with the firm.
d. All of these statements are true about total quality control.

4. Which of the following is NOT a stage of the marketing viewpoint of the product life cycle?
a. decline
b. growth
c. maturity
d. production

5. At which stage of the consumable life-cycle is price sensitivity low?
a. introduction
b. growth
c. maturity
d. decline

6. Which of the following is part of the cost and process dimensions of the activity-based management model?
a. resources
b. driver analysis
c. activities
d. products and customers

7. _______________ focuses on non-value-added activities.
a. Activity sharing
b. Activity elimination
c. Activity selection
d. Activity reduction

8. Value-added costs equal standard quantity times
a. non-value-added costs.
b. currently attainable standards.
c. standard price.
d. actual price.

9. Each unit of product requires 16 pounds of material. Due to scrap and rework, each unit has been averaging 18 pounds of material. The material costs $6 per pound

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