basic activities in the production cycle

Tutorial week 7

Answer the following questions related to the Production cycle

What are the four basic activities in the production cycle?

1. What is the OBJECTIVE of product design in the production cycle?
2. What are the two main documents product design activity creates?
3. How can accountants be involved in product design?

4. What is the OBJECTIVE of planning and scheduling in the production cycle?
5. What are two common methods of production planning?
6. What are the main documents involved in planning and scheduling stage?
7. How can accountants be involved in planning and scheduling?

8. Production operations uses CIM. What is CIM?
9. Every firm needs to collect data about the four facets of its production operations: What are those areas?

10. What are the three principal objectives of the cost accounting system?
11. What are two types of cost accounting systems?
12. What minimum information should organizations keep about their fixed assets?