Ds

Question 1

Benefits of material requirement planning (MRP)

Answer 1

reduced (retooling & machine setup time, inventory) increased bulk purchasing and price breaks.

Question 2

which costing would consider the impact of fixed overhead costs

Answer 2

full absorption costing

Question 3

JIT is also called

Answer 3

lean manufacturing

Question 4

which costing provides both greater number of allocation bases and more accurate costing results

Answer 4

ABC for both

Question 5

what are the logical activities when attempting to identify best in class performance

Answer 5

Agreement on a data-gathering method, identification of organizations to benchmark, and collection of data

Question 6

what method fully recognizes all interdepartmental service costs, allocating all costs to other affected departments using complex algorithms.

Answer 6

reciprocal

Question 7

MRP is an integrated production and control system that has three objectives:

Answer 7

1. Ensuring materials are available for production and products are available for customers at the proper time and in the right quantities;
2. Maintaining the lowest possible levels of inventory; and
3. planning manufacturing activities, delivery schedules, and purchasing activities.

Question 8

A demand-pull system in which each component in a production line is produced immediately as needed by the next step in the production line is referred to as:

Answer 8

JIT