Strategic Demand Planning Would Best Be Utilized

question 49

Multiple Choice

Strategic demand planning would best be utilized:

• A)To direct day-to-day operations in a manufacturing plant.
• B)To determine plans for employee overtime.
• C)To decide whether or not to close a manufacturing plant.
• D)To determine plans for hiring or laying off employees.
• E)All answers are correct.

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Definitions:

Continuous Budgeting

A process of continuously updating the budget by adding a new period as the current period is completed, ensuring the budget always extends a fixed period into the future.

Fiscal-Year

A one-year period used for financial reporting and budgeting that does not necessarily coincide with the calendar year; it can start on any day of the year.

Flexible Budgeting

A budgeting approach that allows for adjustments to budgeted figures based on changes in actual operating conditions.

Direct Labor

Refers to the wages and benefits for the employees who are directly involved in the manufacturing or production process.