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Industrial Engineering and Production Management

Industrial Engineering and Production Management
Works cost implies

Primary cost + factory expenses
Factory cost
Primary cost
Factory expenses

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Industrial Engineering and Production Management
Actual performance of a task is called

A duration
None of these
An event
An activity

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Industrial Engineering and Production Management
The probabilistic time is given by (where to = Optimistic time, tp = Pessimistic time, and tn = Most likely time)

(to + tp + tn)/3
(to + 2tp + tn)/4
(to + tp + 4tn)/6
(to + 4tp + tn)/5

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Industrial Engineering and Production Management
One of the basic essentials of an incentive plan is that

Provide incentive to group efficiency performance
All standards should be based on time studies
A differential piece rate system should exist
Minimum wages should be guaranteed

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Industrial Engineering and Production Management
At the break-even point,

Total cost is less than the sales revenue
Total cost is more than the sales revenue
Fixed cost is equal to variable cost
Total cost is equal to sales revenue

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Industrial Engineering and Production Management
The mathematical technique for finding the best use of limited resources in an optimum manner is known as

Operation research
Network analysis
Break-even analysis
Linear programming

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