__________ and __________ Fit Are Two of the Ways of Describing

question 41

Short Answer

__________ and __________ fit are two of the ways of describing a good design from an operations perspective.

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Definitions:

Selling and Administrative Expense

The aggregated total of all expenses associated with selling a company's products and services, as well as managing the day-to-day operations.

Variable Expense

Costs that vary in direct proportion to changes in levels of activity or production volume.

Fixed Expense

Fixed expense refers to costs that do not fluctuate with changes in production level or sales volume.

Master Budget

A comprehensive financial planning document that includes all of a company’s budgets, projecting its financial activities over a specific period.