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Standard operating procedures are general,sometimes informal instructions as to how workers should perform an aspect of their work task.
Cost Estimation Methods
Techniques used to predict the expenses likely to be incurred in the manufacturing of a product or the execution of a project.
Cost Equation
An equation used to estimate costs, typically in the form of fixed costs plus variable costs times the number of units.
Variable Costs
Expenses that vary directly with the level of production or sales volume, such as materials and labor.
Pretax Income
The income that a company earns before any taxes are deducted, representing the profitability of the company before government intervention.
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