APICS CPIM Exam Part 2 Questions & Answers 2024/2025

APICS CPIM Exam Part 2 Questions & Answers 2024/2025 14 Points - ANSWERSW. Edwards Deming's 14 management practices to help companies increase their quality and productivity A3 Method - ANSWERSA means of compactly describing a business process Abnormal Demand - ANSWERSDemand in any period that is outside the limits established by management policy Absorption Costing - ANSWERSAn approach to inventory valuation in which variable costs and a portion of fixed costs are assigned to each unit production. Acceptable Quality Level (AQL) - ANSWERSWhen a continuing series of lots is considered, a quality level that, for the purposes of sampling inspection, is the limit of a satisfactory process average Acceptance Sampling - ANSWERSthe process of sampling a portion of goods for inspection rather than examining the entire lot Action Message - ANSWERSAn output of a system that identifies the need for, and the type of action to be taken to correct, a current or potential problem. Activation - ANSWERSPutting a resource to work Activity-Based Cost Accounting - ANSWERSA cost accounting system that accumulates costs based on activities performed and then uses cost drivers to allocate these costs to products or other bases such as customers, markets, or projects. It attempts to allocate overhead costs on a more realistic basis than by using direct labor or machine hours