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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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
Costs for items such as labor and power are called _____________ costs.
a) budgeted hourly rate
b) fixed
c) standard
d) variable
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
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
Which of the following is NOT an example of a fixed cost.
a) rent
b) electrical power
c) taxes
d) insurance
_____________ 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
________ 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
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
____________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
There are 500 sheets of paper in a ream. How many are in 6 reams?
a) 300
b) 1100
c) 1300
d) 3000
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
what is 174 x 2?
a) 249
b) 294
c) 348
d) 384
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
_____________ 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
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