What uses cost determined before production begins?

• A.Cost of quality
• B.Standard cost
• C.Analysis cost
• D.Average cost

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Inventory Record is one of the major input to the

• A.Capacity Requirements planning (CRP)
• B.Material Requirements planning (MRP) System
• C.Production activity Control
• D.Manufacturing Planning and Control (MPC) Function

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Inventory investment can be balanced with:

• A.Costs associated with changing production levels
• B.All of the above
• C.Customer service
• D.Cost of placing orders

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The formula to calculate the Target value is:

• A.T = D (R + L) + SS
• B.T = D (R -) / SS
  Where T = target level, D = demand pr unit of time, lead-time duration, R = reviewperiod duration, SS = safety stock
• C.T = D (R + L) * SS
• D.T = D (R -L) + SS

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To detect the presence of assignable causes of variation is the objective of:

• A.Critical process control
• B.Statistical process control
• C.Analytical cost assessment
• D.Frequency variation control

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