A Computer-Based System That Provides Information and Support for Effective

question 83

True/False

A computer-based system that provides information and support for effective managerial decision making refers to management information systems.

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Definitions:

Machine Time

The amount of time a machine is in operation, used to calculate manufacturing costs and efficiency in production processes.

Product Demand

The quantity of a product or service that consumers are willing and able to purchase at various prices during a specified time period.

Contribution Margin

The residual sum from sales income once variable expenses are subtracted, showing the extent to which it helps cover fixed expenses and create profit.

Variable Costs

Expenses that change in proportion to the activity of a business, such as utility costs that increase with higher production levels.