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Industrial Engineering and Production Management

Industrial Engineering and Production Management
The term 'value' in value engineering refers to

Manufactured cost of the product
Selling price of the product
Total cost of the product
Utility of the product

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Industrial Engineering and Production Management
If ‘F’ is the fixed cost, ‘V’ is the variable cost per unit (or total variable costs) and ‘P’ is the selling price of each unit (or total sales value), then break-even point is equal to

F/[1 - (V/P)]
F/[1 + (V/P)]
(F × V)/P
(F × P)/V

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Industrial Engineering and Production Management
The simplex method is the basic method for

Linear programming
Value analysis
Operation research
Model analysis

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Industrial Engineering and Production Management
In micro-motion study, therblig is described by

An event
Standard symbol and colour
A symbol
An activity

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Industrial Engineering and Production Management
In Emerson's efficiency plan of wage incentive system, bonus is paid to a worker

On the percentage of standard time
On the percentage of time worked
Whose output exceeds 67% efficiency
On the percentage of time saved

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Industrial Engineering and Production Management
The production cost per unit can be reduced by

Minimizing resource waste
Producing more with the same inputs
Producing more with increased inputs
Eliminating idle time

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