Inventory Management, Just In Time And Costing Methods MCQs

Option A: relevant total costs

Option B: contribution costs

Option C: throughput costs

Option D: optimized costs

Correct Answer: relevant total costs ✔

Option A: carrying costs

Option B: relevant total costs

Option C: economic order quantity

Option D: reorder point

Correct Answer: reorder point ✔

Option A: relevant carrying cost

Option B: relevant ordering cost

Option C: purchase order lease time

Option D: number of purchase orders

Correct Answer: purchase order lease time ✔

Option A: chaining point

Option B: recording point

Option C: lead point

Option D: trigger point

Correct Answer: trigger point ✔

Option A: in-time costing

Option B: trigger costing

Option C: back flush costing

Option D: lead time costing

Correct Answer: back flush costing ✔

Option A: purchase order costs

Option B: relevant inventory carrying costs

Option C: irrelevant inventory carrying costs

Option D: relevant ordering costs

Correct Answer: relevant inventory carrying costs ✔

Option A: annual irrelevant ordering costs

Option B: annual relevant carrying costs

Option C: annual relevant ordering costs

Option D: annual irrelevant carrying costs

Correct Answer: annual relevant carrying costs ✔

Option A: $200

Option B: $190

Option C: $160

Option D: $180

Correct Answer: $180 ✔

Option A: supply chain

Option B: value chain

Option C: material flow chain

Option D: manufacturing flow chain

Correct Answer: supply chain ✔

Option A: irrelevant inventory carrying costs

Option B: relevant opportunity cost of capital

Option C: relevant purchase order costs

Option D: relevant inventory carrying costs

Correct Answer: relevant opportunity cost of capital ✔

Option A: stocking costs

Option B: stock-out costs

Option C: costs of quality

Option D: shrinkage costs

Correct Answer: costs of quality ✔

Option A: $5,000

Option B: $4,500

Option C: $5,500

Option D: $6,000

Correct Answer: $5,000 ✔

Option A: incoming freight

Option B: storage costs

Option C: insurance

Option D: spoilage

Correct Answer: insurance ✔

Option A: 678 packages

Option B: 648 packages

Option C: 658 packages

Option D: 668 packages

Correct Answer: 648 packages ✔

Option A: decisional management

Option B: throughput management

Option C: inventory management

Option D: manufacturing management

Correct Answer: inventory management ✔

Option A: stock-out costs

Option B: ordering costs

Option C: carrying costs

Option D: purchasing costs

Correct Answer: purchasing costs ✔

Option A: relevant purchase order costs

Option B: relevant inventory carrying costs

Option C: irrelevant inventory carrying costs

Option D: relevant opportunity cost of capital

Correct Answer: relevant opportunity cost of capital ✔

Option A: $7,500

Option B: $7,000

Option C: $6,500

Option D: $6,000

Correct Answer: $7,500 ✔

Option A: annual irrelevant ordering costs

Option B: annual relevant carrying costs

Option C: annual relevant ordering costs

Option D: annual irrelevant carrying costs

Correct Answer: annual relevant ordering costs ✔

Option A: economic accounting

Option B: back-flush accounting

Option C: lean accounting

Option D: lead accounting

Correct Answer: lean accounting ✔

Option A: 14000 units

Option B: 14500 units

Option C: 15000 units

Option D: 15500 units

Correct Answer: 14000 units ✔

Option A: stock-out costs

Option B: ordering costs

Option C: carrying costs

Option D: purchasing costs

Correct Answer: ordering costs ✔

Option A: economic order quantity purchasing

Option B: annual purchasing

Option C: just in time purchasing

Option D: both a and b

Correct Answer: just in time purchasing ✔

Option A: $6.20

Option B: $7.20

Option C: $4.20

Option D: $5.20

Correct Answer: $4.20 ✔

Option A: efficient order quantity

Option B: economic order quantity

Option C: rational order quantity

Option D: optimized order quantity

Correct Answer: economic order quantity ✔

Option A: 16

Option B: 12

Option C: 10

Option D: 14

Correct Answer: 10 ✔

Option A: in-time production

Option B: materials requirement planning

Option C: on-time production

Option D: pull strategy of production

Correct Answer: materials requirement planning ✔

Option A: incoming freight

Option B: storage costs

Option C: insurance

Option D: clerical errors

Correct Answer: clerical errors ✔

Option A: $9,650

Option B: $2,350

Option C: $3,750

Option D: $2,750

Correct Answer: $3,750 ✔

Option A: carrying costs

Option B: purchasing costs

Option C: stock-out costs

Option D: ordering costs

Correct Answer: carrying costs ✔

Option A: back-flush trails

Option B: audit trails

Option C: trigger trails

Option D: lead manufacturing trails

Correct Answer: audit trails ✔