Examlex
Total quality management (TQM) is a production department approach to continuously improving the quality of all the production processes.
Fixed Costs
Costs that do not change with the level of production output, such as rent, salaries, and insurance.
Variable Selling
Costs that change in proportion to the volume of goods or services sold.
Administrative Expense
Costs related to the general operation of a company that are not directly tied to a specific department or product, like salaries of executive officers and support staff.
Direct Labour
The work of factory employees that can be directly associated with producing specific goods or services.
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