INDUSTRIAL ENGINEERING AND PRODUCTION MANAGEMENT QUIZ

A low unit cost can be obtained by following

Functional layout

Specialization of operation

Automatic material handling equipment

Product layout

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If (R) is the base rate guaranteed per hour, (S) is the standard time for the job and (T) is the actual time, then according to Rowan plan, wages for the job will be

TR

TR + [(S - T)/S] × R

TR + [(S - T)/2] × R

TR + (S - T) × R

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Which one of the following represents a group incentive plan?

Halsey Premium Plan

Scanlon Plan

Rowan Plan

Taylor Differential Piece Rate System

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The process layout is best suited where

Machines are arranged according to sequence of operation

Few number of non-standardized units is to be produced

Mass production is envisaged

Specialization exists

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Both Rowan plan and 50-50 Halsey plan will provide the same earning when the actual time is _________ the standard time.

Equal to

Twice

One-half

One-fourth

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Value engineering aims at finding out the

Depreciation value of a product

Major function of the item and accomplishing the same at least cost without change in quality

Break-even point when machine requires change

Resale value of a product

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ABC analysis deals with

Analysis of process chart

Controlling inventory costs money

Ordering schedule of job

Flow of material

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Direct expenses include

Administrative expenses

Selling expenses

Factory expenses

None of these

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At the break-even point,

Total cost is more than the sales revenue

Total cost is equal to sales revenue

Fixed cost is equal to variable cost

Total cost is less than the sales revenue

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Performance rating is equal to

Observed performance × normal performance

Observed performance - normal performance

None of these

Observed performance + normal performance

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