Key Terms Instructions: Please Define the Following Key Terms

question 11

Short Answer

Key Terms Instructions: Please define the following key terms. Show Who? What? Where? When? Why Important?
Islamic State of Iraq and Syria (ISIS)

---

Definitions:

Purchase Price Variances

The difference between the actual cost of purchased materials and the expected (or standard) cost, which can indicate efficiency or market condition changes.

Standard Cost

Predetermined cost calculated for the production of a product or performance of a service under normal conditions.

Operator Training

The process of teaching operators to run machinery or systems efficiently and safely.

Maintenance

The activities undertaken to keep an asset in working condition or restore it to proper condition.