Carlos Hernandez Owns a Company in Miami That Purchases Products

question 17

Multiple Choice

Carlos Hernandez owns a company in Miami that purchases products from U.S.manufacturers for export to several countries in Central and South America.Carlos is a(n) :

• A) licensing agent
• B) buyer for export
• C) export broker
• D) export agent
• E) export importer

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Definitions:

Cost Of Production Report

A document that details the total cost and production quantities of a specific department or process within a manufacturing operation.

First-In, First-Out

A method of valuing inventory in which the first items bought or manufactured are the first ones to be sold or utilized.

Direct Materials

Raw materials that are directly traceable to the production of a specific good or service.

Manufacturing Cells

A layout design in manufacturing where equipment and workstations are arranged to optimize the production process, often by grouping together different machines used for similar processes.