The wastage of material in the store is taken into account by the following method in the evaluation of the material issued from the store
Inflated system
Primary cost method
Current value method
Fixed price method
Correct Answer :
A. Inflated system
Related Questions
CPM has following time estimate
One time estimate
Two time estimate
Three time estimate
Four time estimate
Which of the following statement is correct?
When slack of an activity is zero, it falls only on critical path.
CPM technique is useful to minimise the direct and indirect expenses.
Critical path of a net work represents the minimum time required for completion of project.
All of the above
The critical path of a network represents
The minimum time required for completion of project
The maximum time required for completion of project
Maximum cost required for completion of project
Minimum cost required for completion of project
Time study is
The appraisal, in terms of time, of the value of work involving human effort
Machine setting time
Time taken by workers to do a job
Method of fixing time for workers
Dispatching
Prescribes the sequence of operations to be followed
Determines the programme for the operations
Is concerned with the starting of processes
Regulates the progress of job through various processes
An optimum project schedule implies
Optimum utilization of men, machines and materials
Lowest possible cost and shortest possible time for project
Timely execution of project
To produce best results under given constraints
Choose the wrong statement. Motion study is used for
Improving a work method
Improvising a work method
Designing a work method
Reducing inventory costs
The technique of value analysis can be applied to
Complicated items only
Simple items only
Crash programmer items only
Any item
According to MAPI formula, the old machine should be replaced by new one when (CAM = Challenger's Adverse minimum DAM = Defender's Adverse minimum)
CAM < DAM
CAM > DAM
CAM = DAM
There is no such criterion
The most suitable incentive plan for the maintenance section of an industry will be
Piece rate system
Group incentive plan
Profit sharing plans
Simplification
In the Emerson efficiency plan, a worker receives only his daily wage and no bonus is paid till his efficiency reaches
50 %
66.67 %
75 %
80 %
The aim of value engineering is to
Find the depreciation value of a machine
Determine the selling price of a product
Minimise the cost without change in quality of the product
All of the above
The time which results in the least possible direct cost of an activity is known as
Normal time
Slow time
Crash time
Standard time
The assumption in PERT is
A project will always be behind schedule, if left uncorrected
Cost of project will always be more than the estimated cost, if no timely corrections are taken
A project can be subdivided into a set of predictable, independent activities
Activities are fixed and can't be changed
Which of the following are the principles of material handling?
Keep all the handling to the minimum
Select only efficient handling equipment
Move the heaviest weight to the least distance
All of the above
The salient feature of functional organisation is
Strict adherence to specification
Separation of planning and design part
Each individual maintains functional efficiency
All of the above
Which of the following statement is correct about the network diagram?
The events are represented graphically by circles or nodes at the beginning and the end of activity by arrows.
The tail end of the arrow represents the start of an activity.
The head of the arrow represents the end of an activity.
All of the above
Routing prescribes the
Flow of material in the plant
Proper utilization of man power
Proper utilization of machines
Inspection of final product
A CPM family includes
CPA (Critical Path Analysis)
CPP (Critical Path Plotted)
CPS (Critical Path Scheduling)
All of the above
Standard time is equal to
(Normal time) - (allowances)
(Normal time) + (allowances)
Representative time multiplied by rating factor
Normal time taken by an operation
In the cost structure of a product, the selling price is determined by the factors such as
Sales turn over
Lowest competitive price
Various elements of the cost
All of the above
In order that linear programming techniques provide valid results
Relations between factors must be linear (positive)
Relations between factors must be linear (negative)
Either (A) or (B)
Only one factor should change at a time, others remaining constant
Critical path on PERT/CPM chart is obtained by joining the events having
Maximum slack
Minimum slack
Average slack
No slack
Pick up the correct statement. Dummy activity on a PERT/CPM chart means, it
Consumes time, but no resources
Consumes resources but no time
Consumes neither time nor resources
Is a dangling event
The interchangeability can be achieved by
Standardisation
Better process planning
Bonus plan
Better product planning
In steel plant the most important system for materials handling is
Conveyors
Cranes and hoists
Trucks
Locos
Critical path method
Helps in ascertaining time schedules
Makes better and detailed planning possible
Provides a standard method for communicating project plans schedules and to time and cost performance
All of the above
CPM is the
Time oriented technique
Event oriented technique
Activity oriented technique
Target oriented technique
PERT is
An analytic tool in concept
Limit up of event oriented diagrams
Used for research and development projects
All of the above
PERT analysis is based upon
Optimistic time
Pessimistic time
Most likely time
All of these