________ Refers to Management of the Physical Flow of Products

question 29

Multiple Choice

________ refers to management of the physical flow of products from the point of origin as raw materials to end users as finished products.

• A)Operations research
• B)Logistics
• C)Warehousing
• D)Environmental scanning

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Definitions:

Standard Cost

A predetermined cost of manufacturing, selling, or any other business activity, used for budgeting and performance evaluation.

Actual Cost

The actual expense incurred to acquire an asset or service, including all amounts spent to bring the item to a usable condition and location.

Fixed Factory Overhead Volume Variances

The difference between budgeted and actual fixed overhead costs, attributed to variations in production volume.

Normal Capacity

The average production or operating levels that a company can sustain under normal circumstances over a period.