Real-Time Information About Product Movement on Store Shelves Could Benefit

question 4

Multiple Choice

Real-time information about product movement on store shelves could benefit from the use of

• A)batch processing.
• B)economic order quantities.
• C)statistical process control.
• D)radio frequency identification tags.
• E)infrared remote scanners.

---

Definitions:

Materials Quantity Variance

The difference between the actual quantity of materials used in production and the expected quantity of materials supposed to be used, multiplied by the standard cost per unit.

Standard Quantity

The predetermined amount of materials or inputs that should be used in the production of goods or services under normal operating conditions.

Standard Price

A predetermined cost assigned to goods and services, used for budgeting, cost control, and performance evaluation purposes.

Materials Price Variance

The difference between the actual cost of materials and the standard cost multiplied by the actual quantity used.