Operations Management Flashcards
Calculation for total factor productivity ratios
Output/Total Costs
Calculation for partial productivity ratios
Output/Specific quantity
What are techniques to find and analyze problems?
internal benchmarks
What type of diagram is a histogram?
Pareto Diagrams
What diagram is used to identify the sources of problems in the production process?
Fishbone Diagram
What type of marketing is a single sale?
Transaction marketing
What type of marketing is target groups?
Database marketing
What type of marketing is internet?
E-marketing
What type of marketing is relationships and referrals?
Networking marketing
What are the 3 cost objects?
Product, Income determination, and Efficiency
If the cost object is a custom order, what type of costing is used?
Job costing
If the cost object is a mass-produced homogeneous product, what type of costing is used?
Process costing
Calculation for Cost of Goods Manufactured
Beginning WIP+DM used+DL+Manufacturing overhead applied-Ending WIP
Calculation for Cost of Goods Sold
Beginning Finished Goods+COGM-Ending Finished Goods
What are the 2 cost flow assumptions?
FIFO and weighted-average
Calculation for Equivalent units of production(weighted-average)
Units shipped out+(Ending WIP x % completed)
Calculation for Equivalent units of production(FIFO)
Units shipped out + (Ending WIP x % completed) - (Beginning inventory x % completed)
Calculation for Cost per equivalent unit(weighted average)
(Beginning cost + current cost)/Equivalent units
Calculation for cost per equivalent unit(FIFO)
Current cost/Equivalent units
