Anticipation inventories - Study guides, Class notes & Summaries

APICS CPIM PART 1 V7 MODULE 5 2023 NEW EXAM SOLUTION ABC classification - The classification of a group of items in decreasing order of annual dollar volume (price multiplied by projected volume) or other criteria. This array is then split into three classes [...]. The [first] group usually represents 10 percent to 20 percent by number of items and 50 percent to 70 percent by projected dollar volume. The next grouping [...] usually represents about 20 percent of the items and about 20 percent...

APICS/CPIM EXAM 1 COMPLETE QUESTIONS WITH CORRECT ANSWERS. ABC classification -Answer-Process of classifying items in descending order based on annual dollar volume or some other criteria. The list is then split into 3 classes - A, B, and C. A represents 10-20% of items but 50-70% of dollar volume; B represents 20% of items and 20% of dollar volume; C represents 60-70% of items but 10-30% of dollar volume. This principle states that effort and money can be saved by applying looser controls...

What is an Order qualifier? - ANSWER-o Customer requirements for price, quality, delivery, etc. o A company must meet or exceed minimum level to qualify for order What is an Order Winners? - ANSWER-o Characteristics that persuade customers to select a product/service from a qualifying company What do Order Winners turn into? - ANSWER-- Today Order Winner are tmr order Qualifiers What are the Manufacturing Strategies? - ANSWER-- Engineer-to-order - Make-to-Order - Configure-to-Order ...

ABC classification correct answers Process of classifying items in descending order based on annual dollar volume or some other criteria. The list is then split into 3 classes - A, B, and C. A represents 10-20% of items but 50-70% of dollar volume; B represents 20% of items and 20% of dollar volume; C represents 60-70% of items but 10-30% of dollar volume. This principle states that effort and money can be saved by applying looser controls to the low dollar volume items (C class) than the higher...

WGU D251 - Advanced Auditing Exam Questions With Correct Answers | Verified | Latest Update 2024/2025 | 100% SOLVED. alternative procedures - Correct Answer-Procedures used to obtain evidence about the existence and valuation of accounts receivable when a positive confirmation is not returned, including examining cash collected after the confirmation date and vouching unpaid invoices to customers' orders, sales orders, shipping documents, and sales invoices. Altman Z-scores - Correct Answe...

WGU D251 - Advanced Auditing Exam Questions With 100% Correct Answers | Verified | Latest Update 2024/2025 | 26 Pages. misstatement - Correct Answer-An error, either intentional or unintentional, that exists in a transaction or financial statement account balance. alternative procedures - Correct Answer-Procedures used to obtain evidence about the existence and valuation of accounts receivable when a positive confirmation is not returned, including examining cash collected after the confirma...

APICS CPIM Exam 1 | 176 Questions and Answers 100% Correct

WGU D251 Advanced Auditing Exam Questions With 100% Correct Answers | Verified | Latest Update 2024/2025. An error, either intentional or unintentional, that exists in a transaction or financial statement account balance. alternative procedures - Correct Answer-Procedures used to obtain evidence about the existence and valuation of accounts receivable when a positive confirmation is not returned, including examining cash collected after the confirmation date and vouching unpaid invoices to ...

Chapter 1—Financial Reporting MULTIPLE CHOICE 1. The following is NOT a major component of the financial statements: a. auditor’s opinion b. annual report c. explanatory notes d. balance sheet ANS: B PTS: 1 TOP: AICPA FN-Reporting DIF: Easy OBJ: LO 1 MSC: AACSB Reflective Thinking 2. The following are users of accounting information: a. stakeholders b. creditors c. investors d. all of the above ANS: D PTS: 1 TOP: AICPA FN-Reporting 3. Interested parties receive information ab...

CPIM Part 1 Module 5 Summary and elaborations inventory *** Those stocks or items used to support production (raw materials and work-in-process items), supporting activities (maintenance, repair, and operating supplies) and customer service (finished goods and spare parts). Demand for inventory may be dpendent or independent. Inventory functions are anticipation, hedge, cycle (lot size), fluctuation (safety, buffer, or reserve), transportation (pipeline), and service parts Inventory Ma...