Examlex
What is an operation? Briefly describe three types of operations.
Absorption Costing
A method of costing that includes all manufacturing costs, both fixed and variable, in the cost of a product.
Cost-plus Pricing
A pricing strategy where the selling price is determined by adding a specific markup to a product's cost price.
Return on Investment
A measure used to evaluate the efficiency of an investment, calculated as net profit divided by the cost of the investment.
Markup
The increment added to the acquisition cost of products to address company overheads and earn profit.
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