Industrial Engineering and Production Management
Production cost refers to prime cost plus

Factory and administration overheads
Factory overheads
Factory, administration and sales overheads
Factory, administration, sales overheads and profit

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Industrial Engineering and Production Management
Time study is carried out

By breaking up each operation into small elements which are measurable with the help of the measuring device accurately
By observing and recording the time taken by the operator for an operation
By finding all the significant informations regarding the job, work place and machine tool etc
All of these

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Industrial Engineering and Production Management
The assumption in PERT is

Cost of project will always be more than the estimated cost, if no timely corrections are taken
A project will always be behind schedule, if left uncorrected
Activities are fixed and can't be changed
A project can be subdivided into a set of predictable, independent activities

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