A value chain is A.A group of activities connected with the production of a product or the performance of a service. B.A method used to evaluate all aspects of performance, including financial and nonfinancial measures. C.The allocation of overhead to products based on the activities that drive the costs. D.The approach used to decrease inventory costs by reducing the amount of inventory on hand.
Added by Patricia G.
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A value chain refers to the series of activities that a company performs to deliver a product or service to the market. Show more…
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How have many companies significantly lowered inventory levels and costs? Question 1 options: They have a just-in-time method. They use activity-based costing. They focus on a total quality management system. They utilize a balanced scorecard system. 2. What term describes all activities associated with providing a product or service? Question 2 options: The product chain The manufacturing chain The supply chain The value chain 3. Which one of the following managerial accounting approaches attempts to allocate manufacturing overhead in a more meaningful fashion? Question 3 options: Balanced scorecard Total-quality management Activity-based costing Just-in-time inventory 4. What is "balanced" in the balanced scorecard approach? Question 4 options: The emphasis on financial and non-financial performance measurements The number of defects found on each product The amount of costs allocated to products The number of products produced 5. Which one of the following characteristics would likely be associated with a just-in-time inventory method? Question 5 options: Ending inventory of work in process that would allow several production runs An understanding with customers that they may come to the showroom and select from inventory on hand A backlog of inventory orders not yet shipped Minimal finished goods inventory on hand
Adi S.
Explain the term supply chain and its importance to cost management.
A value chain typically consists of five primary activities that can directly provide value to customers. The activities that help customers buy the organization's products or services represent a. marketing and sales. b. inbound logistics. c. operations. d. outbound logistics.
Sanchit J.
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Principles of Accounting Volume 1: Financial Accounting
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