Group Technology Requires That

question 45

Multiple Choice

Group technology requires that

• A) each component be identified by a coding scheme that specifies the type of processing and the parameters of the processing
• B) a specific series of engineering drawings be prepared
• C) all bills of material be prepared using the same format
• D) engineering change notices be linked to each of the bills of material and engineering notices
• E) the final products be standardized

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Definitions:

Accounts Payable

The amounts a business owes to its lenders or suppliers for transactions involving goods and services bought on credit.

Conversion Costs

The combined costs of direct labor and manufacturing overhead, required to transform raw materials into finished goods.

Work in Process Inventory

The value of goods in production but not yet completed, often considered an asset on the balance sheet.

Lean Principles

A methodology originating from the Toyota Production System that seeks to maximize customer value while minimizing waste within manufacturing and related processes.