________ Planning Is Often Done at the Last Minute with Little

question 6

Multiple Choice

________ planning is often done at the last minute with little or no sharing of goals and strategies

• A) Formal
• B) Recognized
• C) Informal
• D) Strategic

---

Definitions:

Finished Goods Inventory

The total value of all completed products that are ready for sale but have not been sold yet.

Indirect Labor

Labor costs not directly associated with the manufacturing of a product, such as maintenance and administrative staff expenses.

Direct Materials

Materials in their unprocessed state that are directly linked to the manufacturing of specific products or services.

Direct Labor Costs

The expenses of paying workers who are directly involved in the production of goods or services.