The Extension of MRP Which Extends to Resources Such as Labour

question 180

Multiple Choice

The extension of MRP which extends to resources such as labour hours and machine hours, as well as to order entry, purchasing, and direct interface with customers and suppliers is

• A) MRP II.
• B) enterprise resource planning.
• C) the master production schedule.
• D) closed-loop MRP.
• E) not yet technically possible.

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Definitions:

Breakeven Price

The market price at which the total costs of production equal the revenue derived from selling a product, resulting in neither profit nor loss.

Sale Price

The final amount at which a product or service is sold to consumers.

Marked Up

Refers to an increase in the selling price of goods or services, typically to create a profit margin above the cost.

Operating Expenses

Costs that a business incurs through its normal business operations, such as wages, rent, and utilities.