The Managers Who Are Responsible for Managing the Organization's Production

question 44

Multiple Choice

The managers who are responsible for managing the organization's production system are known as:

• A) TQM managers.
• B) JIT managers.
• C) operations managers.
• D) inventory managers.
• E) facilities managers.

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Definitions:

Labor and Overhead

The combination of direct labor costs and overhead costs incurred in the production process.

Conversion Costs

Refers to the combination of direct labor and manufacturing overhead costs incurred to convert raw materials into finished products.

Weighted-Average Method

An inventory costing method that assigns a cost to inventory on the basis of the average cost of all similar items in the inventory.

Molding Department

A specialized division within a manufacturing facility where the shaping and forming of products through molding processes take place.