The CRP System Converts Tentative Planned Shop Orders into Standard

question 76

Multiple Choice

The CRP system converts tentative planned shop orders into standard hours of load by ______.

• A)assessing the levels of inventory of finished product,given the availability of raw materials
• B)multiplying each period's production quantity requirements by standard labor or equipment requirements per unit,or both
• C)averaging the availability of resources per production hour
• D)basing the calculations on the production volume from the preceding production period

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Definitions:

Reasonable Reliance

A principle where a party acts based on the representation or promise of another, believing it to be true.

Bilateral Contract

An agreement involving two parties where each promises to perform an act in exchange for the other's act.

Unilateral Contract

A contract where one party makes a promise in exchange for an act by another party, which upon performance, binds the first party to its promise.

Promissory Estoppel

A law that stops someone from going back on a commitment they've made to another if the second party has trusted this promise to their own disadvantage.