Chapter 19 Flashcards
benchmarking
Measuring products or processes against industry standards, an essential part of total quality management.
capacity utilization
The degree to which an organization’s output capabilites are being deployed or utilized.
cost driver
The factor that is viewed as causing cost to be incurred within an organization.
database
An information storehouse, usually electronic, that can be queried to extract data meeting certain parameters. Enables singular data entry and multiple data output.
direct costs
A cost easiley traced to a specific job; generally direct material and direct labor.
indirect costs
A cost not easliy traced to a specific job; generally categorized as factory or manufacturing overhead.
job cost sheet
A document representing a compilation of cost data for a specific job
just in time inventory
Ray materials are received from supplies just as they are needed in the production process.
Kaizen
Japense term used to describe a blitz like approach to study processes and install efficiency within an organization.
Kanban
Japanese term which means some form of signal that a particular inventory is ready for replenishment.
lean manufacturing
Indicative of an environment where wast has been trimmed; entails a focus on standardization, speed, and quality, without compromising responsiveness to customer demand.
materials requisition form
Form showing what material has been removed from the raw materials stock and put into production.
overapplied overhead
Applied overhead exceeds the actual amount; usually viewed as a favorable outcome, because less has spent than anticipated for the level of achieved production.
overhead application rate
A rate used to apply manufacturing overhead to output; estimated factory overhead for a period divided by the estimated application base.
Six Sigma
A trademarked quality management system developed by Motorola; driven by pursuit of statistical results that reflect near perfection in production and processing.
