Section $1$: Multiple Choice $/$ True False $-$ Each question worth $1$ point$\mathrm{.}1.$ Master production scheduling $($MPS$)$ Involves long term capacity planning that typically covers a time horizonof one to three years.A:True$2.$B$.$ FalseSales and operations planning is typically performed once a year with monthly updates.A$.$ TrueB. False$3.$ Aggregate operations planning is used to establish general levels of employment, production levels and changes in inventory levels over an intermediate range of time.A$.$ TrueB. False$4.$ For aggregate planning, groups of similar products are lumped together and treated as equivalent products forplanning purposes.A$.$ TrueB. False$5.$ Which of the following is NOT an input to the aggregate operations planning process?A$.$Production rates $($capacities$)$B$.$ Demand forecastsC. Initial inventory levelsD. Master production schedulesE. Limits on the use of overtimeGiven the following information and MRP table for part E;Gross requirements have been entered for youCurrently, there are $120$ on$-$hand inventory.There will be a previously arranged scheduled receipt of $300$ units of part E at the beginning of week $3.$This part must be ordered in multiples of $100$ units.Lead time is one week.Weeks$1234567$Part: EGross Requirements$100280340500380720200$Scheduled ReceiptsProjected$-$on$-$HandNet requirementsPlanned$-$order ReceiptsPlanned$-$order Releases$7.$The planned order release in week $5$ will be:A$.0$B$.200$C$\mathrm{.}400$D$.700$E$.$ Correct answer is not listed.Backorders can be thought of as negative inventory.B$.$ False