In the 1960s, Operations Management Focused On

question 90

Multiple Choice

In the 1960s, operations management focused on:

• A) having complex value chains.
• B) the production of goods.
• C) mass customization.
• D) environmental conservation.

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Definitions:

Static Budget

A financial plan that does not change or adjust over the period for which it is set, regardless of variations in activity levels or performance.

Overhead Cost

These are expenses related to the ongoing operation of a business that isn't directly tied to a specific product or service.

Favorable Spending Variance

A situation where the actual spending is less than the budgeted or expected amount.

Indirect Materials

Small items of material such as glue and nails that may be an integral part of a finished product, but whose costs cannot be easily or conveniently traced to it.