What information can be gleaned from a bill of materials? If you were asked to produce an item based solely on a copy of its BOM, what missing information would you need?
What will be an ideal response?
A bill of materials is a record of all the components of an item, the parent component relationships, and the usage quantities derived from engineering and process designs. You would have a parts list, but would have no idea how long it might take to assemble an item, or receive the components from a supplier (lead times). You would also need to know what the levels of inventory were for each item listed in the BOM. Since the question is phrased as "produce an item" you might assume that only one end item was required, but if the interpretation is otherwise, you would need to know a production quantity.
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Use the five transactions for Hennigan Company described below to answer the question(s) that follow(s). Dec 1 Hennigan purchases two new saws on credit at $375 each. The saws are added to Hennigan's rental inventory. Payment is due in 30 days. 8 Hennigan accepts advance deposits for tool Company of $75. 15 Hennigan receives a bill from Farmer's Electric Company for $150 . Payment is due in 30
days. 20 Customers are charged $750 by Hennigan for tool Company. Payment is due from the customers in 30 days. 31 Hennigan receives $500 in payments from the customers that were billed for Company on December 20. Refer to the transactions for Hennigan Rentals. Based on the October 15 transaction, Hennigan will record which of the following in its accounting records? a. a credit in Accounts Payable for $150. b. a credit in Accounts Receivable for $150. c. a debit in Accounts Payable for $150. d. a debit in Accounts Receivable for $150.
The most effective way to involve employees in the monitoring process is to provide a protocol for which of the following?
a. communication b. office etiquette c. administrative action d. management oversight
Resources are generally deployed in one of two principal ways. What are those two ways?
What will be an ideal response?
Jim's manager and mentor, Naomi, helped Jim develop his first business plan. Naomi said, "Jim, one of the most powerful tools that you can use in developing a strategic plan for your division is to analyze the external environment and your internal resources. I will help you formulate this strategy by using a technique called
A. vertical integration." B. diversification." C. benchmarking." D. SWOT analysis." E. the BCG matrix."