What is the primary purpose of inventory control?

• To enhance customer satisfaction

• To reduce employee turnover

• To ensure the right amount of supply is available

• To increase production speed

Which of the following is NOT a type of cost mentioned in cost control?

• Fixed cost

• Variable cost

• Semi-variable cost

• Dynamic cost

What does production planning involve?

• Controlling inventory levels

• Anticipating difficulties and planning ahead

• Looking back at past production

• Analyzing statistical reports

What is the breakeven point?

• The point where costs are minimized

• The point where production stops

• The point where total revenue and total costs are equal

• The point where total revenue exceeds total costs

Which of the following is a method of presenting statistical reports?

• Oral presentations

• Email summaries

• Narrative format

• Tables, graphs, and charts

What does production control guide?

• The hiring process

• The marketing strategy

• The flow of production

• The financial budget of the company

What is the role of statistical analysis in management?

• To create marketing strategies

• To provide useful information regarding performance

• To develop new products

• To manage human resources

Which type of cost remains the same regardless of production levels?

• Variable cost

• Marginal cost

• Fixed cost

• Semi-variable cost

What does cost control aim to achieve?

• Achieve cost effectiveness in business operations

• Increase employee satisfaction

• Enhance product quality

• Expand market reach