Operations Management Is Simply Defined as the _____________ and ___________

question 5

Multiple Choice

Operations management is simply defined as the _____________ and ___________ of the production of manufactured goods and delivery of services.

• A) Supply and demand
• B) Planning and organizing
• C) Capability and execution
• D) Specification and development

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Definitions:

Cost of Goods Manufactured

The total cost incurred to manufacture products, including materials, labor, and overhead, during a specific period.

Finished Goods Inventory

Refers to products that have completed the manufacturing process but have not yet been sold.

Variable Costs

Expenses that vary in direct relation to the volume of production or sales transactions.

Manufacturing Overhead

All production costs other than direct materials and direct labor, including expenses such as maintenance, utilities, and equipment depreciation in a manufacturing setting.