Presented below are selected data from the financial statements of eMonstore.com for 2014, 2013, and 2012.
Definitions:
Waste Elimination
The process of identifying and removing unnecessary elements from processes or products to improve efficiency and reduce costs.
Variable Cost
Expenses that change in proportion to the activity of a business, such as costs for raw materials or production inputs.
Experiment
A scientific procedure undertaken to test a hypothesis, discover unknown effects, or demonstrate a known fact, usually under controlled conditions.
Business Practices
Established methods, protocols, or procedures followed by an organization in the conduct of its business.
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