An aggregate planner requires information on constraints. Which of the following is one of the typical constraints for an aggregate planner?
A) Inventory holding cost
B) Labor/machine hours required per unit
C) Stockout or backlog cost
D) Limits on overtime
Answer: D
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Meow Products Ltd. Meow Products Ltd. produces and sells scratching posts for cats. In the current year, the company had expected to sell 12,000 posts but actually produced and sold 10,000 posts. The following information is available regarding the standard cost to produce a single post: Direct materials: 3 feet @ 1.75 per foot Direct labor: 15 minutes @ $.30 per minute In the current year,
38,000 feet of material were purchased out of which 35,000 feet were used at a cost of $1.55 per foot, and 160,000 direct labor minutes were incurred at a cost of $.32 per minute. Refer to the Meow Products Ltd. information above. The company's direct labor rate variance for the current year is: A) $ 200 F. B) $ 200 U. C) $3,200 F. D) $3,200 U.
The forward pass through a project network determines the critical path.
Answer the following statement true (T) or false (F)
What is the chief advantage of the periodic system?
A. Immediate feedback on the inventory on hand at any time during the period B. Timely discovery of losses due to theft C. Better control over inventory D. Efficiency and ease of recording
The Lending Club removed CEO Renaud Laplanche in 2016. Hans Morris, the company executive chairman, lauded him, saying his entrepreneurial spirit was critical to the success of the firm. But he also signaled the board was removing Mr. Laplanche because he had failed to build a strong control system and culture, stating that as a public company that provides a financial service, Lending Club must meet the industry high standards of transparency and disclosure. This kind of dismissal signals what message to the public?
A. Mr. Laplanche was not a creative entrepreneur. B. Mr. Laplanche was dishonest. C. The board of directors is active and engaged. D. The board of directors needed a scapegoat to cover up their ineffectiveness.