Reasons to Study Operations Management Include Learning About

question 75

Multiple Choice

Reasons to study operations management include learning about:

• A)how people organize themselves for productive enterprise.
• B)how goods and services are produced.
• C)what operations managers do.
• D)a costly part of the enterprise.
• E)all of the above.

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Definitions:

Underapplied Overhead

Refers to the situation when the actual factory overhead costs are more than the overhead costs applied to a product based on the predetermined rate.

Overapplied Overhead

A situation where the estimated manufacturing overhead cost is more than the actual overhead incurred during a period.

Value Chain

A model that describes the full range of activities needed to create a product or service, from initial conception through the various phases of production to the final customer.

Service Entity

An organization or a part of an organization that provides services to customers or internal partners.