When Did Operations Management Emerge as a Formal Field of Study

question 50

Multiple Choice

When did operations management emerge as a formal field of study?

• A) during the late 1950s and early 1960s
• B) during the late 1970s and early 1980s
• C) during World War II
• D) during the nineteenth century
• E) during the early 1900s

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Definitions:

Period Costs

Costs that are expensed in the period in which they are incurred; they are not tied directly to the production process and include items like sales, general, and administrative expenses.

Manufacturing Company

An entity engaged in the production of goods by combining raw materials and components in an industrial process.

Work in Process Inventory

Work in process inventory consists of partially finished goods that are still in the production process at a given point in time.

Overapplied Overhead

A situation where the overhead allocated to products or services exceeds the actual overhead costs incurred.