1. Which of the following is not a phase of project management? a. Project planning b. Project scheduling c. Project controlling d. Project motivating 2. are used to represent activity in a network diagram. a. Circles b. Squares c. Rectangles d. Arrows 3. The shortest possible time in which an activity can be achieved under ideal circumstances is known as a. Pessimistic time estimate b. Optimistic time estimate c. Expected time estimate d. The most likely time estimate 4. What is the particular task performance in CPM known as? a. Dummy b. Event C. Activity d. Contract 5. What is a critical path? a. It is a path that operates from the starting node to the end node. b. It is a mixture of all the paths C. It is the longest path d. It is the shortest path 6. Which of the following is not an ordering cost? a. cost of receiving inventory b. cost of preparing the order C. cost of the merchandise ordered d. cost of storing the inventory 7. The cost of receiving inventory is regarded as a. an ordering cost. b. a carrying cost. C. a purchasing cost. d. a cost of not carrying goods in stock. 8. Which of the following tells management "when" to order? a. safety stock level b. order point C. the economic order quantity d. the Parcto inventory analysis 9. The size of the safety stock is directly affected by all of the following, except the a. cost of a stockout. b. probability of a stockout. C. carrying cost of stock d. economic order quantity. 10. If no safety stock is carried, the average inventory is equal to the a. order point/2. . order point x 2. C. economic order quantity/2. d. economic order quantity x 2.Direction: Write you final answer and solutions on a separate sheet of paper. (2 points each) 1. Fatfulldhin Corporation estimates that it will consume 400,000 units of Part 5254 in the coming year. The ordering cost for this unit is P3.20. Fatfulldhin Corporation wants to maintain a safety stock of 1,000 units, and its factory operates 200 days per year. What is the order point if the lead time is 2 days? 2 - 5. Slim Spices manufactures a special blend of beef marinade. The company buys one of the spices used in the marinade in 10-pound bags that cost P5 each. The company uses 50,000 of the bags per year, and usage occurs evenly throughout the year. The average cost to carry a 10-pound bag in inventory per year is Pl. The cost to place an order is P12. 2. Determine the economic order quantity for the spice in terms of 10-pound bags. 3. If the company works 250 days per year, on average how many bags of spice are used per working day? 4. If the lead time for an order is normally five working days, determine the reorder point. 5. If the company normally carries 50 bags as safety stock, determine the reorder point for the spice