Simply Put,a ____ Is an Array of Components That Work

question 35

Multiple Choice

Simply put,a ____ is an array of components that work together to achieve a common goal,or multiple goals,by accepting input,processing it,and producing output in an organized manner.

• A) plan
• B) process
• C) project
• D) system

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Definitions:

Finished Goods

These are manufactured products that have completed the production process and are ready for sale.

Variance Analysis

The process of investigating the difference between actual financial performance and budgeted or standard costs to identify the causes of variances.

Management By Exception

The review of budget reports by top management focused entirely or primarily on differences between actual results and planned objectives.

Materials Quantity Variance

The difference between the expected quantity of materials to be used in production and the actual quantity used, calculated in terms of cost.