Which of the Following Is True Concerning Enterprise Resource Planning

question 102

Multiple Choice

Which of the following is true concerning Enterprise Resource Planning (ERP) systems?

• A)They grew out of the material requirements planning systems that preceded them.
• B)They will allow customers to track their orders.
• C)They are considered sunk costs.
• D)All of these answer choices are correct.

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Definitions:

Standard Costs

Pre-determined costs used as a benchmark for evaluating actual production costs within a business.

Raw Material

Basic, unprocessed materials used in the manufacturing process to produce finished goods.

Work in Process

An inventory account that tracks the cost of products that are in production but not yet completed.

Direct Labor

The wages and benefits for employees directly involved in manufacturing a product.