An MRP System That Is Updated Periodically to Account for All

question 54

Multiple Choice

An MRP system that is updated periodically to account for all changes which have occurred within a given time interval is called a(n) ________ system.

• A)pegging
• B)planned order release
• C)net-change
• D)regenerative
• E)exception report

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Definitions:

Variable Overhead Efficiency Variance

The difference between actual variable overhead and the standard cost, reflecting efficiency in using resources that vary with production volume.

July

The seventh month of the year in the Gregorian calendar, often associated with the peak of summer in the Northern Hemisphere.

Variable Overhead Rate Variance

The difference between the actual variable overhead costs and the expected costs based on the standard variable overhead rate.

Planning Budget

A budget created for a particular period or project that estimates revenues, expenses, and other financial details ahead of time.