QUESTION 1 Which of the following is correct for JIT Purchasing? O Uses Push Met

Question

QUESTION 1 Which of the following is correct for JIT Purchasing? O Uses Push Method O Delivers small quantities of materials and parts in trucks and vans O Uses many vendors and selects the one with the best price each time the need arises for more raw material. O Leads to higher levels of inventory on the production line QUESTION 2 Which terms would make the following sentence true? Manufacturing companies that benefit the most from activity based costing are those where overhead costs are apercentage of total product cost and where there isdiversity among the various products that they produce. low; little low; considerable O high; litte O high: considerable QUESTION3 Which of the following is not correct for Non-value-added (NVA) concept? All NVA activities must be removed to make the process function reasonably. O Identifying NVA activities should be from the perspective of the customers, both internal and external O One way to calculate NVA cost is to compare firms activity level to competitors O In a manufacturing firm, moving the product from one manufacturing department to another is a NVA activity

Explanation / Answer

1. Correct Statment is a JIT Purchasing "Uses many vendors and selects the one with the best price each time the need arises for more row material".

Explanation: JIT system is a system of managing the inventory that is designed to improve efficiency and to reduce waste in a production process, and minimize inventorycarrying costs. And JIT is a pull system.

2. Manufacturing companies that benefit the most firm activity-based costing are those where overhead cost are a High percentage of total product cost where there is Considerable_diversity among various products that they produce.

3. The following statment is not correct for Non-Value-added(NVA) concept.

Identifying NVA activites should be from the persepctive of the customers ,both internal and external.

4. The Cohice E likely has the lowest degree of correlation.

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