GA1 - Cost Estimating And Production Planning Question Preview (ID: 6822)
The Students Should Understand The Basics To Cost Estimating And Production Planning.
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_____________ a cost rate that remains constant, regardless of production output in the cost center.
a) cost center
b) cost rate
c) fixed costs
d) variable costs
The average cost of a replacement part on the press is $41.25. During the year, the print shop installs 150 such parts. What is the total cost?
a) $6178.50
b) $6187.50
c) $6228.00
d) $6282.00
__________ is a cost rate generated by items such as labor and utilities, when production occurs in a cost center.
a) cost center
b) cost rate
c) fixed costs
d) variable costs
what is 174 x 2?
a) 249
b) 294
c) 348
d) 384
Rex received $418 for a press run. He worked 19 hours on the job. How much did he make per hour?
a) $8
b) $10
c) $20
d) $22
What is the cost of 15 gallons of blanket wash at $1.13 per gallon?
a) $16.59
b) $16.95
c) $19.56
d) $19.65
There are 500 sheets of paper in a ream. How many are in 6 reams?
a) 300
b) 1100
c) 1300
d) 3000
____________the process of determining the approximate costs to compete a job.
a) estimating
b) guessing
c) producing
d) quoting
_________the cost of subcontracting outside materials, supplies, and services.
a) buyout
b) cost center
c) cost rate
d) production standard
The cost of production must always be determined ________ production begins.
a) after
b) before
c) during
d) throughout
Which of the following is NOT an example of a fixed cost.
a) equipment depreciation
b) heating and cooling
c) labor
d) lighting
________ an electronic form or a paper form used to track costs for labor, materials, and press time of a given printing job.
a) buyout
b) cost center
c) job ticket
d) management information system
_____________ is a computer-based management tool used to assess data in production planning, inventory control, financial transactions, and sales records.
a) buyout
b) cost center
c) job ticket
d) management information system
Which of the following is NOT an example of a fixed cost.
a) rent
b) electrical power
c) taxes
d) insurance
A(n) _____________ describes the terms of a printing job and serves as a contract between the printing firm and the customer.
a) budgeted hourly rate
b) cost center
c) estimate
d) quotation
A(n) _____________ is an hourly value representing the average output of a particular operating area under specified conditions.
a) buyout
b) cost center
c) cost rate
d) production standard
_____________ is determined from all fixed and variable costs based on the hourly operation of a particular cost or production center.
a) budgeted hourly rate
b) buyouts
c) cost rate
d) production standard
Costs for items such as labor and power are called _____________ costs.
a) budgeted hourly rate
b) fixed
c) standard
d) variable
People in a printing company who determine the costs are called _____________.
a) Accountants
b) Estimators
c) Managers
d) Owners
A(n) _____________ is a production operation that costs money to maintain.
a) buyout
b) cost center
c) cost rate
d) production standard
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