MQM 227 Actual Questions and Correct Answers

MQM 227 Actual Questions and Correct Answers



Q1
Which of the following is one of the categories of manufacturing inventory? Economic order
inventory Work-in-process Quality units JIT inventory Reorder point
Answer: Work in Process




Q2
When material is ordered from a vendor, which of the following is NOT a reason for delays in the
order arriving on time? Normal variation in shipping time A shortage of material at the vendor's
plant causing backlogs An unexpected strike at the vendor's plant A lost order Redundant
ordering systems
Answer: Redundant ordering Systems




Q3
Which of the following is usually included as an inventory holding cost? Order placing Breakage
Typing up an order Quantity discounts Annualized cost of materials
Answer: Breakage




Q4
Which of the following is a FIXED-Order quantity inventory model? Economic order quantity
model The ABC model Periodic replenishment model Cycle counting model P model
Answer: Economic order quantity Model




Q5
Which of the following is a PERPETUAL system for inventory management? Fixed-time period
Fixed-order quantity P model First-in-first-out The wheel of inventory
Answer: Fixed order quantity