Question 1

A sound,well-controlled production cycle can provide a competitive advantage by:

Accepted Answer

A) providing high-quality,lower cost products 
B) manufacturing a unique product range in-house 
C) providing price leadership 
D) All of the options are correct. 
A) providing high-quality,lower cost products 
B) manufacturing a unique product range in-house 
C) providing price leadership 
D) All of the options are correct. D

Question 2

A company estimates that its overhead costs are $2 000 000.It decides that the best way of apportioning this is according to the amount of time spent on a specialist machine in production.Total machine time is 2000 hours.How much overhead should a product carry if it spends 3 hours on the machine?

Accepted Answer

A) $1000 
B) $2000 
C) $3000 
D) $300 
A) $1000 
B) $2000 
C) $3000 
D) $300 C

Question 3

What are the two main factors that need to be considered when automatic reorder points are being set?

Accepted Answer

A) Production capabilities and lead times. 
B) Inventory storage capacity and cash flow. 
C) Product availability and price. 
D) None of the options are correct. 
A) Production capabilities and lead times. 
B) Inventory storage capacity and cash flow. 
C) Product availability and price. 
D) None of the options are correct. A

Question 4

Describe in details how product specification is used by product planning staff to determine raw material needs.

Accepted Answer

Product planning staff use the data from

Question 5

The typical production cycle ends when:

Accepted Answer

A) the organisation has a large volume of finished goods inventory 
B) all products in the finished goods inventory are sold 
C) all production costs have been recorded 
D) all raw materials are consumed in the production process 
A) the organisation has a large volume of finished goods inventory 
B) all products in the finished goods inventory are sold 
C) all production costs have been recorded 
D) all raw materials are consumed in the production process

Question 6

Explain how a sound,well control production cycle can provide an organisation with competitive advantages.

Accepted Answer

A sound,well controlled production cycle

Question 7

The document that allows the store to release the raw materials and work-in-process so that the production process can start is:

Accepted Answer

A) Bill of material 
B) Work order 
C) Material requisition 
D) Production schedule 
A) Bill of material 
B) Work order 
C) Material requisition 
D) Production schedule

Question 8

To identify material requirements,information needs to be read from:

Accepted Answer

A) the production schedule database and the finished goods inventory database 
B) the production schedule database and the bill of materials database 
C) the raw materials inventory database and the production schedule database 
D) the bill of materials database and the raw materials inventory database 
A) the production schedule database and the finished goods inventory database 
B) the production schedule database and the bill of materials database 
C) the raw materials inventory database and the production schedule database 
D) the bill of materials database and the raw materials inventory database

Question 9

Production scheduling decisions do not include:

Accepted Answer

A) Determining what types of products to produce. 
B) Determining how many of each product to produce. 
C) Determining the costing methods for products produced. 
D) Scheduling production to align with demand. 
A) Determining what types of products to produce. 
B) Determining how many of each product to produce. 
C) Determining the costing methods for products produced. 
D) Scheduling production to align with demand.

Question 10

Which of the following is not counted as manufacturing overheads?

Accepted Answer

A) costs for electricity used to operate the production equipment 
B) depreciation on the production equipment and buildings 
C) miscellaneous factory supplies such as oil or cleaning products 
D) payment made to production staff for overtime work 
A) costs for electricity used to operate the production equipment 
B) depreciation on the production equipment and buildings 
C) miscellaneous factory supplies such as oil or cleaning products 
D) payment made to production staff for overtime work

Question 11

The most important data created during the production planning process is:

Accepted Answer

A) The data in the bill of materials 
B) The production schedule data 
C) Work-in-progress data 
D) None of the options are correct. 
A) The data in the bill of materials 
B) The production schedule data 
C) Work-in-progress data 
D) None of the options are correct.

Question 12

The objective of the execution phase in the production cycle does NOT contain:

Accepted Answer

A) Ensure that the planned production activities are carried out accurately. 
B) Ensure that the planned production activities are carried out effectively. 
C) Ensure that all production records are reconciled regularly. 
D) Ensure that all production records are correctly updated 
A) Ensure that the planned production activities are carried out accurately. 
B) Ensure that the planned production activities are carried out effectively. 
C) Ensure that all production records are reconciled regularly. 
D) Ensure that all production records are correctly updated

Question 13

What could happen if the planning phase and the costing phase in the production cycle are poorly managed and executed?

Accepted Answer

In terms of the planning phase,failure t

Question 14

Which of the following is an unlikely task overseen by the director of finance and accounting?

Accepted Answer

A) Funds disbursement 
B) Tax planning 
C) Budgeting 
D) Remuneration processing 
A) Funds disbursement 
B) Tax planning 
C) Budgeting 
D) Remuneration processing

Question 15

A bike company has a pile of bicycle frames that it purchased from a supplier.These frames would best be classified as:

Accepted Answer

A) raw materials 
B) work in process 
C) finished goods 
D) inventory 
A) raw materials 
B) work in process 
C) finished goods 
D) inventory

Question 16

Explain why the production cycle is strategically important to a manufacturing organisation.

Accepted Answer

The production cycle is strategically im

Question 17

What is the role of a bar code scanner or RFID tags in the production cycle?

Accepted Answer

A) Production workers use this to tag-on/ tag-off the job for their timesheets 
B) Boxes of finished goods have RFID tags added before despatch as part of the stock control systems for large customers like Target or Woolworths. 
C) These tracking devices are used to record the movement of raw material,WIP and finished goods so that inventories of these remain accurate. 
D) These tags are used with the picking slips to locate the goods in the warehouse. 
A) Production workers use this to tag-on/ tag-off the job for their timesheets 
B) Boxes of finished goods have RFID tags added before despatch as part of the stock control systems for large customers like Target or Woolworths. 
C) These tracking devices are used to record the movement of raw material,WIP and finished goods so that inventories of these remain accurate. 
D) These tags are used with the picking slips to locate the goods in the warehouse.

Question 18

The typical production cycle commences when:

Accepted Answer

A) the organisation is low in finished goods inventory 
B) a new product has been designed 
C) all production costs have been recorded 
D) needed raw materials have arrived 
A) the organisation is low in finished goods inventory 
B) a new product has been designed 
C) all production costs have been recorded 
D) needed raw materials have arrived

Question 19

Staff involved in the production planning phase need to understand: (i)the individual product-level requirements necessary to produce each product (ii)the overall goals relating to future production scheduling (iii)the overall constraints relating to future production scheduling

Accepted Answer

A) (i)only 
B) (i)(ii)only 
C) (i)(iii)only 
D) (i)(ii)(iii) 
A) (i)only 
B) (i)(ii)only 
C) (i)(iii)only 
D) (i)(ii)(iii)

Question 20

Planning production schedule does not involve:

Accepted Answer

A) creating production schedule 
B) calculating production requirements 
C) identify material requirements 
D) None of the options are correct. 
A) creating production schedule 
B) calculating production requirements 
C) identify material requirements 
D) None of the options are correct.

A sound,well-controlled production cycle can provide a competitive advantage by:

A company estimates that its overhead costs are $2 000 000.It decides that the best way of apportioning this is according to the amount of time spent on a specialist machine in production.Total machine time is 2000 hours.How much overhead should a product carry if it spends 3 hours on the machine?

What are the two main factors that need to be considered when automatic reorder points are being set?

Describe in details how product specification is used by product planning staff to determine raw material needs.

The typical production cycle ends when:

Explain how a sound,well control production cycle can provide an organisation with competitive advantages.

The document that allows the store to release the raw materials and work-in-process so that the production process can start is:

To identify material requirements,information needs to be read from:

Production scheduling decisions do not include:

Which of the following is not counted as manufacturing overheads?

The most important data created during the production planning process is:

The objective of the execution phase in the production cycle does NOT contain:

What could happen if the planning phase and the costing phase in the production cycle are poorly managed and executed?

Which of the following is an unlikely task overseen by the director of finance and accounting?

A bike company has a pile of bicycle frames that it purchased from a supplier.These frames would best be classified as:

Explain why the production cycle is strategically important to a manufacturing organisation.

What is the role of a bar code scanner or RFID tags in the production cycle?

The typical production cycle commences when:

Staff involved in the production planning phase need to understand: (i)the individual product-level requirements necessary to produce each product (ii)the overall goals relating to future production scheduling (iii)the overall constraints relating to future production scheduling

Planning production schedule does not involve:

Systems Fundamentals

Systems Characteristics and Considerations

Database Concepts I

Database Concepts II

XBRL Reporting

System Mapping and Documentation

Internal Controls I

Internal Controls II

Transaction Cycle The Revenue Cycle

Transaction Cycle The Expenditure Cycle

Transaction Cycle The HR Management and Payroll Cycle

Transaction Cycle The General Ledger and Financial Reporting Cycle

Systems Development

Auditing of Accounting Information Systems

Ethics, fraud and Computer Crime

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Exam 11: Transaction Cycle The Production Cycle

A sound,well-controlled production cycle can provide a competitive advantage by:

A company estimates that its overhead costs are $2 000 000.It decides that the best way of apportioning this is according to the amount of time spent on a specialist machine in production.Total machine time is 2000 hours.How much overhead should a product carry if it spends 3 hours on the machine?

What are the two main factors that need to be considered when automatic reorder points are being set?

Describe in details how product specification is used by product planning staff to determine raw material needs.

The typical production cycle ends when:

Explain how a sound,well control production cycle can provide an organisation with competitive advantages.

The document that allows the store to release the raw materials and work-in-process so that the production process can start is:

To identify material requirements,information needs to be read from:

Production scheduling decisions do not include:

Which of the following is not counted as manufacturing overheads?

The most important data created during the production planning process is:

The objective of the execution phase in the production cycle does NOT contain:

What could happen if the planning phase and the costing phase in the production cycle are poorly managed and executed?

Which of the following is an unlikely task overseen by the director of finance and accounting?

A bike company has a pile of bicycle frames that it purchased from a supplier.These frames would best be classified as:

Explain why the production cycle is strategically important to a manufacturing organisation.

What is the role of a bar code scanner or RFID tags in the production cycle?

The typical production cycle commences when:

Staff involved in the production planning phase need to understand: (i)the individual product-level requirements necessary to produce each product (ii)the overall goals relating to future production scheduling (iii)the overall constraints relating to future production scheduling

Planning production schedule does not involve:

Systems Fundamentals

Systems Characteristics and Considerations

Database Concepts I

Database Concepts II

XBRL Reporting

System Mapping and Documentation

Internal Controls I

Internal Controls II

Transaction Cycle The Revenue Cycle

Transaction Cycle The Expenditure Cycle

Transaction Cycle The HR Management and Payroll Cycle

Transaction Cycle The General Ledger and Financial Reporting Cycle

Systems Development

Auditing of Accounting Information Systems

Ethics, fraud and Computer Crime

Filters