Exam 20: Production and Control

________ is a technique for reducing inventories to a minimum by arranging for production components to be delivered to the production facility only when it is about to be used.

________ is a control technique that allows only significant deviations between planned and actual performance to be brought to a manager's attention.

Which one of the following would be a rational justification for selecting algebraic break-even method instead of graphic break-even method?

What are the potential pitfalls of budgets?

Furntech Corporation manufactures and markets traditional and computer-related office products and supplies.The company is looking for ways to improve its productivity to become more competitive.Which one of the following actions of the company will be least effective in improving organizational productivity?

________ refers to the relationship between the total amount of goods or services being produced and the organizational resources needed to produce them.

Which layout strategy would be most appropriate for an organization with a limited number of different products that require high production volumes,highly specialized equipment,and narrow employee skills?

Tom's company repairs machines only after they have malfunctioned.This is an example of ________.

Operational tools are often used as part of a firm's human resource strategy.Which one of the following is an operational plan that outlines who will perform a specific job and how and where the job will be conducted?

Which one of the following techniques is best suited to analyze the financial position of an organization?

A(n)________ is an expense incurred by the organization regardless of the number of products produced.

________ are operational tools used to establish labor standards and are useful for planning,control,productivity improvements,costing and pricing,bidding,compensation,motivation,and financial incentives.

Deming's quality flow diagram eliminates barriers between the company and the customer,between the customer and the suppliers,and between the company and its employees.Therefore,an organization's interpretation of quality really is expressed in its ________.

The assets available to managers for production are called ________.

Productivity is the relationship between the total amounts of goods or services being produced and the organizational resources needed to produce them.

Identify the algebraic equation to determine the break-even point.

Operational tools are often used as part of a firm's human resource strategy.Which one of the following is an operational tool used to establish labor standards?

________ helps managers understand the relationships between fixed costs,variable costs,total costs,and profit and loss within an organization.

________ is a statistical and graphical multiphase decision-making technique that contains a series of steps showing the sequence and interdependence of decisions.

Which one of the following strategies involves a plan of action focused on the transformation of a firm's resources into goods and services?