Which One of the Following Is Not an Input in an MRP

question 12

Multiple Choice

Which one of the following is not an input in an MRP system?

• A)planned-order schedules
• B)bill of materials
• C)master production schedule
• D)inventory records
• E)All are inputs.

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Definitions:

LIFO Inventory Method

Last In, First Out, an accounting method where the most recently acquired items are the first to be sold or used.

Gross Profit

The difference between revenue and the cost of goods sold, indicating how efficiently a company uses labor and supplies in production.

FIFO Method

An inventory valuation method that assumes that the first items produced or purchased are the first used or sold.

Unit Costs Decreasing

A situation indicating that the expense incurred to produce a single unit of output is declining, often due to efficiencies or increased production scale.