Operations Management MCQs | Types of Production
Operations management is concerned with the transformation of ‘inputs’ into ‘outputs’ that meet the needs of the customer.
Operations management is concerned with the transformation of ‘inputs’ into ‘outputs’ that meet the needs of the customer.
Process costing provides a system of costing where the output is continually produced from the manufacturing process. Materials might be added in full at
A standard cost is a predetermined unit cost based on expected direct materials quantities and expected direct labour time, and priced at a
A variance is the difference between a planned, budgeted or standard cost and the actual cost incurred. There is Cost variance analysis and Revenue
Overhead is the cost incurred in the course of making a product, providing a service or running a department, but which cannot be traced directly
Common methods of measuring labour activity are at Production and Productivity level. Here on MCQ.club we have prepared useful
Job costing is used when a business entity carries out tasks or jobs to meet specific customer orders. Batch costing is similar to job costing in that
The objective of absorption costing is to include in the total cost of a product an appropriate share of the organization’s total overhead.