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A Template That the Analyst May Use When Beginning to Model

question 4

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A template that the analyst may use when beginning to model or talk about the system from an O-O perspective is called a:


Definitions:

Variable Costs

Costs that change in proportion to the level of activity or production volume, such as raw materials and direct labor.

Direct Materials

Raw materials that are directly traceable to the manufacturing of a product and are a significant part of its composition.

Actual Cost

The actual amount spent on goods, services, and labor to produce an item or to run a company.

Data Collected

The process of gathering and measuring information on targeted variables to answer relevant questions and evaluate outcomes.

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