Week 8 Knowledge Check
1.
Which of the following costs is associated with a firm’s operations and materials
management function?
A. The cost of the machinery, computers, tools, buildings,
and equipment
B. The cost of employee wages, including benefits
C. The cost of work-in-process goods, semifinished
products moving through the production process
D. The stock value of finished products a company holds in
inventory
Correct:
The Correct Answer is: A.
, “A firm’s materials management function is responsible for finding companies that supply
high quality, low-cost raw materials and components” such as machinery, computers,
tools, buildings, and equipment (Jones, 2007, p. 378).
2.
According to Jones (2007), the semifinished goods and services that go through a company’s
production process are called
A. conversion
B. inputs
C. distribution
D. work-in-process
, Incorrect:
The Correct Answer is: D.
Work-in-process goods are semifinished products that are moving through the
production process. Inventory goes through the input, conversion and operations,
and output stages.
25.
For what purpose do businesses consider establishing maquiladoras?
A. Reduce inventory costs.
B. Reduce raw materials costs.
C. Reduce labor costs.
D. Reduce distribution costs.
Correct:
The Correct Answer is: C.
1.
Which of the following costs is associated with a firm’s operations and materials
management function?
A. The cost of the machinery, computers, tools, buildings,
and equipment
B. The cost of employee wages, including benefits
C. The cost of work-in-process goods, semifinished
products moving through the production process
D. The stock value of finished products a company holds in
inventory
Correct:
The Correct Answer is: A.
, “A firm’s materials management function is responsible for finding companies that supply
high quality, low-cost raw materials and components” such as machinery, computers,
tools, buildings, and equipment (Jones, 2007, p. 378).
2.
According to Jones (2007), the semifinished goods and services that go through a company’s
production process are called
A. conversion
B. inputs
C. distribution
D. work-in-process
, Incorrect:
The Correct Answer is: D.
Work-in-process goods are semifinished products that are moving through the
production process. Inventory goes through the input, conversion and operations,
and output stages.
25.
For what purpose do businesses consider establishing maquiladoras?
A. Reduce inventory costs.
B. Reduce raw materials costs.
C. Reduce labor costs.
D. Reduce distribution costs.
Correct:
The Correct Answer is: C.
