"Operations" Refers to Manufacturing and Service Processes Used to Transform

question 42

True/False

"Operations" refers to manufacturing and service processes used to transform resources employed by a firm into products desired by customers.

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Definitions:

Machine-Hours

A measure of the amount of time machines are used in the production process, often used as a basis for allocating overhead costs.

Overhead Applied

The portion of overhead costs allocated to a specific job or project based on a predetermined rate.

Machining Department

A segment of a manufacturing facility where machining processes such as cutting, drilling, or shaping materials are performed.

Machine-Hours

A measure of production time referring to the total hours that machinery is in use during the manufacturing process.