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.
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller NURSINGUNIVERSITYWALDEN. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $5.49. You're not tied to anything after your purchase.
