What is the basic idea behind an enterprise resource planning system?
What will be an ideal response?
An enterprise resource planning system is a large, integrated information system that supports many, if not all, of a firm's processes and data storage needs. The organization can view its operations as a whole rather than guessing how activity in one area affects another. The common database eliminates multiple data entry and the mistakes that are inherent in multiple entry systems.
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Describe the two levels of value management: strategic and tactical
What will be an ideal response?
Beat Corporation uses a job-order costing system with a single plantwide predetermined overhead rate based on machine-hours. The company based its predetermined overhead rate for the current year on the following data: Total machine-hours 40,000Total fixed manufacturing overhead cost$344,000Variable manufacturing overhead per machine-hour$3.90Recently, Job M759 was completed. It required 60 machine-hours. The amount of overhead applied to Job M759 is closest to: (Round your intermediate calculations to 2 decimal places.)
A. $750 B. $984 C. $516 D. $234
You can buy a mountain bike on sale for only $592.97. What is the percent markdown, if the original price was $689.50? (Round to the nearest whole percent)
A) 16% B) 86% C) 15% D) 14%
Addison Inc., a waste management company with over 500 employees, wants to close one of its plants because of a slump in its business. The managers of the company provide notice to the employees 70 days in advance of the plan to close the facility. In this case, the company conforms to the stipulations of the _____.
A. Fair Labor Standards Act B. Labor Management Relations Act C. Occupational Safety and Health Act D. Worker Adjustment and Retraining Notification Act