Production Efficiency

MA – Mar 2025 – L2 – Q2 – Budgetary control

Explain eight stages in the budgeting process for a manufacturing organization.

Question

a) The preparation of budgets is a lengthy process which requires great care if the ultimate master budget is to be useful for the purposes of management control within an organisation. Required: Explain EIGHT stages involved in the budgeting process in a manufacturing organisation

b) Budgeting serves a number of useful purposes. They include planning annual operations, coordinating the activities of the various parts of the organisation, communicating plans to various responsibility centre managers among others. Notwithstanding these useful purposes, budgeting has been criticised for several reasons. Required: Identify FIVE criticisms of budgeting.

c) Despite the benefits of minimised inventory cost, waste elimination and quick turnaround time for customers, a lean production model is beset with inherent limitations. Required: Explain FOUR limitations to the efficient implementation of a lean production model in an organization.

Answer

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Tags: Inventory Management, Lean Production, Limitations, Production Efficiency
Level: Level 2

Topic: Models of evaluation Quality
Series: MAR 2025

QTB – MAY 2017 – L1 – SA – Q2 – Mathematics.

A multiple-choice question calculating the variable cost per unit given total and fixed costs.

Question

A company produces 16,000 units of a product. The total cost of producing these units is N60,000. If the fixed cost is N12,000, the variable cost per unit of the output is:

A. N7.00
B. N6.00
C. N5.00
D. N4.00
E. N3.00

Answer

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Tags: Break-even Analysis, Costing, Fixed Costs, Production Efficiency, Variable Cost
Level: Level 1

Topic: Mathematics
Series: MAY 2017

MI – May 2024 – L1 – SA – Q8 – Costing Techniques

Identifies an activity that adds value in a Just-In-Time (JIT) production system.

Question

“Just-In-Time” works on a demand-pull basis and seeks to eliminate all waste and activities that do not add value. Which of the following activities adds value to a product?

A. Inspection time
B. Storage time
C. Processing time
D. Queuing time
E. Transport time

Answer

Find Related Questions by Tags, levels, etc.

Tags: Just-in-Time, Lean Manufacturing, Production Efficiency, Value-Adding Activities
Level: Level 1

Topic: Costing Techniques
Series: MAY 2024

MA – Mar 2025 – L2 – Q2 – Budgetary control

Explain eight stages in the budgeting process for a manufacturing organization.

Question

Answer

Find Related Questions by Tags, levels, etc.

Tags: Inventory Management, Lean Production, Limitations, Production Efficiency
Level: Level 2

Topic: Models of evaluation Quality
Series: MAR 2025

QTB – MAY 2017 – L1 – SA – Q2 – Mathematics.

A multiple-choice question calculating the variable cost per unit given total and fixed costs.

Question

A company produces 16,000 units of a product. The total cost of producing these units is N60,000. If the fixed cost is N12,000, the variable cost per unit of the output is:

A. N7.00
B. N6.00
C. N5.00
D. N4.00
E. N3.00

Answer

Find Related Questions by Tags, levels, etc.

Tags: Break-even Analysis, Costing, Fixed Costs, Production Efficiency, Variable Cost
Level: Level 1

Topic: Mathematics
Series: MAY 2017

MI – May 2024 – L1 – SA – Q8 – Costing Techniques

Identifies an activity that adds value in a Just-In-Time (JIT) production system.

Question

“Just-In-Time” works on a demand-pull basis and seeks to eliminate all waste and activities that do not add value. Which of the following activities adds value to a product?

A. Inspection time
B. Storage time
C. Processing time
D. Queuing time
E. Transport time

Answer

Find Related Questions by Tags, levels, etc.

Tags: Just-in-Time, Lean Manufacturing, Production Efficiency, Value-Adding Activities
Level: Level 1

Topic: Costing Techniques
Series: MAY 2024

Question Tag: Production Efficiency

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MA – Mar 2025 – L2 – Q2 – Budgetary control

Explain eight stages in the budgeting process for a manufacturing organization.

QTB – MAY 2017 – L1 – SA – Q2 – Mathematics.

A multiple-choice question calculating the variable cost per unit given total and fixed costs.

MI – May 2024 – L1 – SA – Q8 – Costing Techniques

Identifies an activity that adds value in a Just-In-Time (JIT) production system.

MA – Mar 2025 – L2 – Q2 – Budgetary control

Explain eight stages in the budgeting process for a manufacturing organization.

QTB – MAY 2017 – L1 – SA – Q2 – Mathematics.

A multiple-choice question calculating the variable cost per unit given total and fixed costs.

MI – May 2024 – L1 – SA – Q8 – Costing Techniques

Identifies an activity that adds value in a Just-In-Time (JIT) production system.

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MA – Mar 2025 – L2 – Q2 – Budgetary control

Explain eight stages in the budgeting process for a manufacturing organization.

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QTB – MAY 2017 – L1 – SA – Q2 – Mathematics.

A multiple-choice question calculating the variable cost per unit given total and fixed costs.

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MI – May 2024 – L1 – SA – Q8 – Costing Techniques

Identifies an activity that adds value in a Just-In-Time (JIT) production system.

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MA – Mar 2025 – L2 – Q2 – Budgetary control

Explain eight stages in the budgeting process for a manufacturing organization.

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QTB – MAY 2017 – L1 – SA – Q2 – Mathematics.

A multiple-choice question calculating the variable cost per unit given total and fixed costs.

You're reporting an error for "QTB – MAY 2017 – L1 – SA – Q2 – Mathematics."

MI – May 2024 – L1 – SA – Q8 – Costing Techniques

Identifies an activity that adds value in a Just-In-Time (JIT) production system.

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