………….is applied where production is carried out as per specific order and customer specifications.

Related MCQs

• The order cost per order of an inventory is Rs. 400 with an annual carrying cost of Rs. 10 per unit. The Economic Order Quantity (EOQ) for an annual demand of 2000 units is
• ……………….is specialized activity frequently carried on by a separate department under the control of buyer or purchasing officer.
• The system of purchasing from one’s customer preferred to others is known as
• Cost of production is also called ………………..if there is no selling and distribution expense
• The term………..refers to all commodities that are consumed in the process of production, assembly and fabricated parts
• The overhead cost incurred from the stage of procurement of raw material till the stage of production of finished goods is known as…… .
• The cost that remains unchanged in spite of change in volume of production is known as………….
• ………………is a statement showing cost of production of a particular product.
• Purchase manager must know the exact …………………….of materials which are used in the production.
• __________ is a written order directing the contractor to make changes according to the provisions of the contract documents.