Examlex
Which performance management technique initially involves the identification of a large number of critical incidents, followed by the classification of these incidents into performance dimensions, and finally ranking these incidents into levels of performance?
Direct Materials
Direct materials are raw materials that are directly traceable to the manufacturing of a specific product and constitute a significant portion of its production cost.
Direct Labor
The labor costs directly tied to the production of goods, including wages of workers actively engaged in manufacturing.
Variable Costs
Costs that change in proportion to the level of production or sales activity.
Sunk Cost
A cost that has already been incurred and cannot be recovered or changed.
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